The latest S&P Cotality Case-Shiller U.S. National Home Price NSA Index has reported a 1.3% annual increase for September, 2025. Their 10-City Composite posted 2% increase year-over-year and their 20-City Composite posted a 1.4% year-over-year increase. They say with inflation outpaced home prices for a 4th straight month the housing market’s deceleration accelerated in September.
“The housing market’s deceleration accelerated in September, with the National Composite posting just a 1.3% annual gain—the weakest performance since mid-2023…This marks a continued slide from August’s 1.4% increase and represents a stark contrast to the double-digit gains that characterized the early post-pandemic era. National home prices continued trailing inflation, with September’s CPI running 1.7 percentage points ahead of housing appreciation. This marks the widest gap between inflation and home-price growth since the two measures diverged in June, with the spread continuing to widen each month” Said Nicholas Godec, CFA, CAIA, CIPM, Head of Fixed Income Tradables & Commodities at S&P Dow Jones Indices.
Click here to read the full report at S&P Dow Jones Indices.
