FX.co ★ US Home Price Growth Slows to Weakest Since 2023

The S&P CoreLogic Case-Shiller 20-City Home Price Index rose 1.2% year over year in January 2026, easing from 1.4% in December and coming in just below market expectations of 1.3%. This was the weakest annual gain since July 2023, highlighting a continued cooling in the US housing market. For the eighth consecutive month, home price appreciation trailed consumer inflation, nudging real home values slightly lower compared with a year earlier. New York posted the strongest increase, with prices up 4.9% year over year, followed by Chicago (4.6%) and Cleveland (3.6%), while Tampa recorded the steepest decline at -2.5%. On a monthly basis, prices slipped 0.1% before seasonal adjustment but rose 0.2% after adjustment, pointing to a market that is stabilizing—neither rebounding sharply nor experiencing a steep downturn.