The Case-Shiller Home Price Index, which is considered the “gold standard” for appreciation, showed home prices rose 2.1% in May and 16.6% year over year, which is up almost 2% from the annual price gains seen in the previous report and is a record high. The 20-city index rose 17% year over year, with almost all the cities showing strong gains. Phoenix, San Diego, and Seattle continued to report the highest annual gains: Phoenix: 26% San Diego: 25% Seattle 23% The slowest annual price gain was Chicago at “only” 11%.