The S&P CoreLogic Case-Shiller 20-City Home Price Index rose 1.1% year-over-year in April 2026, up from a revised 0.9% increase in March and above market expectations. This was the first acceleration in home price growth since November 2025, though values remained close to a three-year low, underscoring the ongoing cooling in the US housing market.
For the 11th straight month, consumer inflation outpaced home price gains, further eroding real housing wealth. Regional performance continued to diverge: the Midwest and Northeast recorded modest increases, while many Sun Belt and Western metros extended their declines.
Chicago led all markets with a 6.5% annual gain, followed by New York at 3.8% and Cleveland at 3.2%. Seattle registered the sharpest annual drop at -2.3%, with Denver (-1.8%), Tampa (-1.8%), Dallas (-1.6%), and Phoenix (-1.7%) also among the weakest performers.
