The S&P Case-Shiller Home Price Indices are considered among the leading measures of U.S. home prices. Calculated quarterly and updated each month, the indices have been collecting data for more than 30 years and cover all nine Census divisions. According to the most recent release, home prices ended 2025 relatively flat from year-before levels. In fact, Nicholas Godec, S&P’s head of fixed income tradables & commodities, says it was the weakest full-year gain in almost 15 years. “With December’s results, we can now assess 2025’s full-year performance in historical context,” Godec said. “National home prices grew just 1.3 percent for the year – the weakest full-year gain since 2011, when prices fell 3.9 percent, and 5.3 percentage points below the 6.6-percent, 10-year annual average.” But while home prices were mostly flat nationally, local markets tell a different, more varied, story. For example, prices in Midwestern and Northeastern cities continued to perform above average, with Chicago leading the pack with a 5.3-percent, year-over-year increase. (source)
