S&P Dow Jones Indices has released the latest results for the S&P CoreLogic Case-Shiller Indices, the leading measure of US home prices. Data released for May 2019 shows that the rate of home price increases across the US has continued to slow.

The Index covers all nine US census divisions and reported a 3.4% annual gain in May, down from 3.5% in the previous month. The 10-City Composite annual increase came in at 2.2%, down from 2.3% in the previous month, while the 20-City Composite posted a 2.4% year-over-year gain, down from 2.5% in the previous month.

Las Vegas, Phoenix and Tampa reported the highest year-over-year gains among the 20 cities. In May, Las Vegas led the way with a 6.4% year-over-year price increase, followed by Phoenix with a 5.7% increase, and Tampa with a 5.1% increase.

“Nationally, year-over-year home price gains were lower in May than in April, but not dramatically so and a broad-based moderation continued,” said Philip Murphy, managing director and global head of index governance at S&P Dow Jones Indices.