FX.co ★ US Home Price Growth Slows Further: Case-Shiller

The S&P CoreLogic Case-Shiller 20-City Home Price Index in the United States exhibited a modest year-on-year increase of 1.8% in July 2025. This marks the smallest rise recorded since July 2023, following a 2.2% uptick in June and slightly exceeding the projected 1.6% growth. "The results from July confirm a significant deceleration in the housing market," stated Nicholas Godec, Head of Fixed Income Tradables & Commodities at S&P Dow Jones Indices. Among the 20 surveyed cities, New York once again led with the highest annual price increase of 6.4%, closely followed by Chicago at 6.2% and Cleveland at 4.5%. "Boston and Detroit also experienced notable growth of around 4%, highlighting a widespread trend where many Northeastern and Midwestern regions, which experienced relatively moderate price growth during the pandemic, are now emerging as top performers nationally. In contrast, several previously booming Sun Belt and West Coast markets are now facing challenges. Home prices in Tampa have declined by 2.8% year-on-year—the steepest drop among the 20 cities—while Phoenix has fallen to -0.9%, entering negative territory," Godec added.