- National home price growth slowed to 2.7% in April 2025, the lowest since mid-2023.
- New York leads regional growth with a 7.9% annual gain.
- Seasonally adjusted national index shows a monthly decline of 0.4%.
The S&P CoreLogic Case-Shiller U.S. National Home Price Index reported a 2.7% annual gain in April 2025, a decrease from 3.4% in March. This marks the slowest appreciation since mid-2023. The 10-City and 20-City Composites recorded gains of 4.1% and 3.4%, respectively.
There was a notable regional shift in housing market dynamics, with New York leading the growth at a 7.9% annual increase, followed by Chicago at 6.0% and Detroit at 5.5%. Former leading markets such as Tampa and Dallas faced declines, with Tampa falling by 2.2% and Dallas slightly down by 0.2%.
Nationally, the index posted a 0.6% gain before seasonal adjustment in April; however, after adjusting for seasonal factors, it actually showed a 0.4% monthly decrease, indicating weaker market conditions than typically seen during the spring season. The housing market continues to be challenged by mortgage rates in the mid-6% range and affordability constraints, although limited housing supply provides some price support.
