FX.co ★ US Home Price Growth Ticks Up but Remains Weak

The Case-Shiller 20-City Home Price Index witnessed a year-over-year increase of 1.4% in November 2025, slightly outpacing the previous month’s 1.3% rise and surpassing market predictions of 1.2%. Although this marks the first uptick in ten months, the pace of growth remains near its lowest in over two years, highlighting the ongoing slowdown in the U.S. housing market. Home price appreciation continues to fall short of consumer inflation, which was reduced to 2.7% in November. Consequently, real home values have effectively decreased over the past year, with price growth lagging behind inflation by approximately 1.3 percentage points. For the second consecutive month, Chicago led the major markets with a 5.7% annual increase, followed by New York at 5.0% and Cleveland at 3.4%. Conversely, Tampa experienced the most significant decline, dropping 3.9%, marking its 13th straight month of decreasing annual prices. Other former pandemic-driven boom markets, particularly in the Sun Belt, also showed substantial declines, with Phoenix, Dallas, and Miami all reporting decreases of 1.4%, 1.4%, and 1.0%, respectively.