FX.co ★ US Home Price Growth Continues to Slow: Case-Shiller

The S&P CoreLogic Case-Shiller 20-City Home Price Index demonstrated a 1.4% year-on-year increase in September 2025. This marks the eighth consecutive month of deceleration and signifies the slowest growth rate since July 2023. The rise followed a 1.6% increase in August, aligning with market projections. Notably, Chicago led with the highest annual gain at 5.5%, with New York at 5.2% and Boston at 4.1%, as Northeastern and Midwestern cities continued to display resilience despite broader market weakening. Contrastingly, Tampa reported the lowest return at 4.1%, with Phoenix registering a decrease of 2.0%, and both Dallas and Miami showing declines of 1.3%. This underscores a distinct vulnerability in Sun Belt regions, which previously experienced significant price surges during the pandemic era. Nicholas Godec from S&P Dow Jones Indices commented, "Current conditions suggest continued challenges. Persistently high mortgage rates and affordability at historic lows indicate that the market is stabilizing into a new normal characterized by minimal price growth—or, in certain areas, price decline."