US home prices continued to grow in March, albeit at a slower rate than a year before, according to the S&P CoreLogic Case-Shiller index released on Tuesday.
House prices rise least in 18 months
The S&P CoreLogic Case-Shiller US National Home Price NSA index recorded a 3.4% year-over-year increase for March, easing from a 4% annual gain in February.
The 10-City Composite index was up by 4.8% on an annual basis, compared to a 5.2% annual rise the previous month, while the 20-City Composite index posted a 4.1% increase, down from 4.5%.
New York reported the highest annual gain out of the 20 cities surveyed, rising 8% in March. In behind, were Chicago and Cleveland, with annual increases of 6.5% and 5.9% respectively.
The smallest return was reported by Tampa, falling 2.2%.
On a monthly basis, pre-seasonally adjusted data showed an upward trend across the main indices in March. The US National Index, 10-City Composite, and 20-City Composite were up 0.8%, 1.2% and 1.1% respectively.
Adjusted data
However, following seasonal adjustment, the US National Index reported a 0.3% decline and the 20-City Composite posted a 0.1% decrease, while the 10-City Composite recorded a 0.01% rise.
Head of Fixed Income Tradables & Commodities at S&P Dow Jones Indices Nicholas Godec said: "Home price growth continued to decelerate on an annual basis in March, even as the market experienced its strongest monthly gains so far in 2025.
"This divergence between slowing year-over-year appreciation and renewed spring momentum highlighted how the housing market shifted from mere resilience to a broader seasonal recovery".
