2026.05.2613:06:08UTC+00US Home Price Gains Ease Further in March

The S&P CoreLogic Case-Shiller 20-City Home Price Index rose just 0.8% year over year in March 2026, slowing from February’s 0.9% gain and missing market expectations for a 1.0% increase. This marked the weakest annual advance since July 2023 and added to signs of a cooling U.S. housing market. For the tenth consecutive month, inflation outpaced home price growth, further eroding inflation-adjusted housing wealth.

Regional divergence remained pronounced, with cities in the Midwest and Northeast continuing to outperform, while many Sun Belt and Western markets stayed under pressure. Chicago posted the strongest annual increase at 6.1%, followed by New York at 4.0% and Cleveland at 3.0%. At the other end of the spectrum, Seattle registered the sharpest annual decline at –2.5%. Other notable laggards included Denver (–2.0%), Tampa (–1.9%), Dallas (–1.7%), and Phoenix (–1.6%). Even typically resilient markets such as Los Angeles (–1.6%) and Washington (–0.1%) slipped into negative territory.