- Seventeen out of twenty metro areas showed positive monthly home price gains in February 2025.
- S&P CoreLogic Case-Shiller U.S. National Home Price Index recorded a 3.9% annual gain.
- New York led with 7.7% annual growth, while Tampa saw a 1.5% decline.
The latest data from the S&P CoreLogic Case-Shiller Indices reveals a 3.9% annual gain in U.S. national home prices as of February 2025. This marks a slight decrease from January's 4.1% increase, indicating a gradual cooling in the market.
On a regional front, New York emerged as the leader with a 7.7% increase in home prices, followed by Chicago and Cleveland, which posted annual gains of 7.0% and 6.6% respectively. Meanwhile, Tampa recorded a 1.5% decline in home prices, reflecting the weakest performance among major U.S. cities.
The 20-City Composite Index rose 4.5% year-over-year, while the 10-City Composite gained 5.2%. Month-over-month, the U.S. National Index saw a 0.4% increase before seasonal adjustment and a 0.3% rise after adjustment, highlighting continued resilience in home prices despite challenging affordability and mid-6% mortgage rates.
Limited housing supply continues to be a significant factor supporting home prices, as many existing homeowners remain reluctant to move from their pandemic-era mortgage rates. This factor, combined with cooler buyer demand, has contributed to a more stable pace of price growth.
