US home prices rose an astonishing 16.61% YoY in May (the latest available data from Case-Shiller). That is the great YoY surge in prices in the 33 year history of the index...

Source: Bloomberg

In the 20 largest US cities, home prices rose at 16.99% YoY (topping expectations), just shy of the record pace of 17.09% in July 2004...