Home Price Growth Slows in March
The S&P CoreLogic Case-Shiller U.S. National Home Price Index (HPI) increased at a seasonally adjusted annual rate of 3.65% for March, following a 6.42% gain in February. On a year-over-year basis, the HPI posted a 6.49% annual gain in March, following a 6.53% increase in February.
The Home Price Index released by the Federal Housing Finance Agency (FHFA) rose at a seasonally adjusted annual rate of 1.2% for March, falling from a 16.07% rate in February. On a year-over-year basis, the index rose 6.75% in March, down from 7.11% in the previous month.
The S&P Dow Jones Indices also reported home price indexes across 20 metro areas in March on a seasonally adjusted basis, with a national average of 3.65%.
The three metro areas with greatest home price appreciation:
- New York (16.2%)
- Cleveland (16.13%)
- Chicago (9.47%)
The three metro areas with the greatest home price depreciation:
- Tampa (-2.95%)
- Phoenix (-3.49%)
- Denver (-7.85%)
See how home prices appreciated in other key metro areas in this Eye on Housing post.
Latest from NAHBNow
Safety
Jul 17, 2026
Keep Workers Safe from Wildfire Smoke on JobsitesWith wildfires raging across Ontario, Canada and smoke impacting huge areas of the Northeast and upper Midwest in the U.S., it is important to know the effects wildfire smoke can have across the country, even if you are not in an area that is at risk for wildfires.
Economics
Jul 17, 2026
Multifamily Gains Lift Overall Starts Despite Single-Family DeclineOverall housing starts increased 19% in June to a seasonally adjusted annual rate of 1.43 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Latest Economic News
Economics
Jul 17, 2026
Multifamily Gains Lift Overall Starts Despite Single-Family DeclineStrong multifamily growth pushed overall housing starts higher in June, while single-family production remained sluggish as elevated mortgage rates, rising construction costs and persistent labor shortages continued to weigh on the market.
Economics
Jul 16, 2026
Builder Sentiment Stays Weak as Affordability Concerns PersistEconomic uncertainty and persistent affordability challenges driven by rising material prices, high land costs, and elevated mortgage rates continue to weigh on builder sentiment.
Economics
Jul 15, 2026
Building Material Prices Continue to Rise Despite Energy Price DeclinesResidential building material prices, excluding energy, rose 0.5% in June and were up 4.6% from a year ago. Lower energy prices were apparent in June, as energy input prices fell 10.3% over the month. Meanwhile, prices for services rose 5.2% over the year, and were up 1.0% from the previous month.