Lender Processing Services (LPS) released Friday its latest Home Price Index (HPI) report, showing that prices increased both month-over-month and year-over-year.

The report, based on residential real estate transaction data as of the end of May, revealed that the home price index for the month was $202,000, a 0.9 percent month-over-month increase and a 3.2 percent increase from the start of the year.

In addition, May’s index represented a 0.4 percent year-over-year increase.

Of the country’s 20 largest states, Arizona gained the most ground in May, with home prices jumping to $170,000 (a 1.7 percent rise from April). It was followed by Oregon, North California, Massachusetts, Maryland, and Georgia.

California posted the highest HPI in May, settling at $298,000-a 0.4 percent gain from April.

Of the nation’s 40 largest metros, most posted month-over-month growth of around 1.0 percent. Phoenix showed the largest gains with a 2.1 percent price increase, while San Francisco, San Jose, and Boston ranked second with 1.5 percent HPI growth.

Only two metros reported no growth: Columbus saw its HPI fall 0.2 percent, and Baltimore stayed more or less flat.

Top five states in HPI growth month-over-month (all states):

• Delaware (2.6 percent)
• Alaska (2.3 percent)
• Arizona (1.7 percent)
• North Carolina (1.6 percent)
• Washington, D.C. (1.5 percent)

Top five metros in HPI growth month-over-month (all metros):

• Anchorage, Alaska (2.3 percent)
• Phoenix, Arizona (2.1 percent)
• Asheville, North Carolina (1.9 percent)
• Ocean Pines, Maryland (1.8 percent)
• Bend, Oregon (1.7 percent)