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CoreLogic’s latest Home Price Insights (HPI) report revealed that home prices nationwide, including distressed sales, rose 20.2% year over year in May — a still-strong annual jump, but one that’s likely to precede a period of slowing price growth.

Month over month, prices grew 1.8%. May’s year-over-year price increase represented a slight dip from April’s figure, although it remained at a double-digit percentage for the 16th consecutive month.

Every state, along with the District of Columbia, registered a yearly gain; 13 states saw a gain of over 20%. Sun Belt states continued to see the highest annual increases, led Florida, where prices were up 33.2% from May 2021; Tennessee, where prices rose 27.4%; and Arizona, where prices increased 27.3%.