U.S. single-family home prices in May rose from the previous year at the same pace as April but fell short of forecasts, Reuters reported.

Housing construction slowed and new home sales lagged behind existing home sales, a closely watched survey found.

The S&P/Case Shiller composite index of 20 metropolitan areas in May gained 4.9 percent year over year, matching the pace set in April. Economists polled by Reuters had projected a 5.6 percent increase.

Denver, San Francisco and Dallas had the biggest year-over-year home appreciation among the 20 cities surveyed, with price increases of 10 percent, 9.7 percent and 8.4 percent, respectively.

“As home prices continue rising, they are sending more upbeat signals than other housing market indicators,” David Blitzer, chairman of the index committee at S&P Dow Jones Indices, said in a statement.