United States Case Shiller Home Price Index YoY

The S&P CoreLogic Case-Shiller 20-City Home Price Index rose 4.5% year-over-year in February, slightly below January’s pace and market expectations of 4.7%. While buyer demand has cooled from the frenzied activity of recent years, limited housing supply continues to support price growth across most markets. Areas that previously saw rapid appreciation, particularly in the Sun Belt, are adjusting amid higher financing costs and worsening affordability. New York recorded the highest annual price gain among the 20 cities at 7.7%, followed by Chicago (7.0%) and Cleveland (6.6%). In contrast, Tampa saw a 1.5% decline. On a monthly basis, the index rose 0.7% in February, marking the largest increase since May 2024.