August Case-Shiller US Home Price Index Declines Faster Than in Previous Month, Up After Adjustment

09:00 AM EDT, 10/28/2025 (MT Newswires) -- The Case-Shiller National Home Price index fell by 0.3% in August before seasonal adjustment following a 0.2% decrease in July.

The 10-city index and 20-city index both fell by 0.6% from the previous month.

National home prices were up 1.5% year-over-year, down from a 1.6% gain in July.

National home prices were up 0.2% month-over-month in August after seasonal adjustment, with the 10-city measure up 0.3% and the 20-city measure 0.2% higher.

"Mortgage rates remaining above 6.5% continue to weigh on buyer demand, even during what should be the busy summer season," said Nicholas Godec, Head of Fixed Income Tradables & Commodities at S&P Dow Jones Indices. "The combination of high financing costs and prices that remain near record highs has limited transaction activity. Markets that experienced the sharpest pandemic-era gains are now seeing the largest corrections, while more affordable metros with stable local economies are holding up better."

The monthly home price index report from S&P CoreLogic Case-Shiller measures single-family home prices across the US with a two-month lag, broken down by city, with combined measures of the 10 and 20 largest cities and a national index. Case-Shiller reports percentage gains both from the previous month and a year earlier.

Higher home prices are inflationary and are usually negative for bonds. The possible outcome for housing-related stocks is mixed, as higher prices suggest strong demand, but prices that are accelerating too fast can also deter potential buyers.

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