San Fernando Valley home prices rose slightly in May as the number of properties on the market grew, according to a report released Thursday by the Southland Regional Association of Realtors. The median home price for houses in the San Fernando Valley in May was $520,000 – up less than 1 percent from April and exactly the same as the same month a year ago. The number of properties on the market climbed nearly 47 percent last month to 1,260, which is roughly a two-month supply. The association said the new inventory kept price increases relatively modest. “Price increases have been moderating as inventory rises and buyers wrestle with affordability issues,” said Jim Link, the Association’s chief executive officer, in a statement. Still, prices have risen substantially over the past year in the Santa Clarita Valley. Median home prices jumped more than 15 percent from last May to $485,000. That price was flat from April. Realtors in that area say inventory rose 74 percent from the same month last year to 663 active listings, which is also a two month supply. Nancy Starczyk, president of the Santa Clarita Valley division of the association, said she’s optimistic about summer home sales. “Home sales are coming in stronger than expected, which bodes well for the summer home buying season,” Starczyk said in a statement.