United States Case Shiller Home Price Index YoY

The S&P CoreLogic Case-Shiller 20-City Home Price Index rose 1.4% year-over-year in September 2025, easing for the eighth straight month and marking the slowest pace of growth since July 2023. The result was in line with expectations and slightly softer than August’s 1.6% increase. Chicago reported the biggest gain (5.5%), followed by New York (5.2%) and Boston (4.1%), sustaining momentum even as broader market conditions soften. On the other hand, Tampa posted the lowest return (4.1%), followed by declines in Phoenix (-2.0%), Dallas (-1.3%), and Miami (-1.3%), highlighting particular weakness in Sun Belt markets that experienced the most dramatic pandemic-era price surges. "Current conditions suggest more persistent headwinds. With mortgage rates stubbornly elevated and affordability at multi-decade lows, the market appears to be settling into a new equilibrium of minimal price growth-or, in some regions, outright decline", said Nicholas Godec from S&P Dow Jones Indices.