Home Price Gains Moderate for Third Straight Month
Home prices experienced a third year-over-year deceleration in May, according to the S&P CoreLogic Case-Shiller U.S. National Home Price Index (HPI). On a year-over-year basis, the non-seasonally adjusted (NSA) index posted a 5.94% annual gain in May, down from a 6.39% increase in April. The index had seen steady increases in year-over-year growth since June 2023. But this growth rate began slowing in March 2024 and has continued to decelerate through May.
The HPI increased at a seasonally adjusted annual rate of 3.09% for May, following a revised rate of 3.91% in April. May marks the 16th consecutive monthly increase; home prices have not seen an outright decrease since January 2023.
Onnah Dereski, NAHB economic services manager, delves into specifics for each census division in this Eye on Housing post.
Latest from NAHBNow
Advocacy
Oct 02, 2026
Stay on Message: Access NAHBs Latest Housing Talking Points
The monthly update provides talking points to help members stay informed with clear and consistent messages on issues affecting the residential construction industry.
Fall Leadership Meeting
Oct 02, 2026
Watch Livestreams of Key Fall Leadership Meetings
NAHB leadership will gather Oct. 6-8 for the 2026 Fall Leadership Meeting in Detroit. Members and HBA staff not in attendance can view livestreams of the key meetings.
Latest Economic News
Economics
Oct 02, 2026
U.S. Economy Adds 29,000 Jobs in September as Prior Months Are Revised Down
The U.S. labor market cooled in September, with nonfarm payroll employment increasing by just 29,000 as downward revisions erased most of August’s previously reported strength. The unemployment rate edged up to 4.2%, as both employment and the labor force continued to grow.
Economics
Oct 01, 2026
Private Residential Construction Spending Posts Broad-Based Gains in August
Private residential construction spending rose in August 2026 following a series of declines during the second quarter of the year. According to the latest construction spending data from the U.S. Census Bureau, private residential construction spending came in at a seasonally adjusted annual rate (SAAR) of $882.3 billion in August, up 1.1% from July but down 4.8% from a year ago.
Economics
Oct 01, 2026
AI Exposure Remains Relatively Low Across Most Construction Occupations
Artificial intelligence (AI) is rapidly changing how work gets done, but its impact varies considerably across occupations. For most construction occupations, near-term exposure to AI remains relatively low.