The latest S&P Cotality Case-Shiller U.S. National Home Price NSA Index has reported a 1.7% annual increase for July, 2025. Their 10-City Composite posted 1.8% increase year-over-year and their 20-City Composite posted a 2.3% year-over-year increase. They say the housing market has downshifted to a much slower gear:
“…U.S. home values have essentially stagnated after inflation, marking the third straight month of real housing wealth decline for homeowners. This reversal is striking: during the pandemic boom, home prices were climbing far faster than inflation, rapidly boosting homeowners’ real equity. Now, the situation has flipped – over the last year, owning a home yielded a modest nominal gain, but an inflation-adjusted loss.” Said Nicholas Godec, CFA, CAIA, CIPM, Head of Fixed Income Tradables & Commodities at S&P Dow Jones Indices.
