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
Workforce Development | National Housing Endowment
Aug 12, 2026
New NHE-Funded Tool Maps Training Opportunities Nationwide
ConstructionSkillsMap.org, a new nationwide tool funded by the National Housing Endowment, makes it easier to find skilled trades training opportunities in communities across the country.
Sustainability and Green Building
Aug 11, 2026
Achieving NGBS Green+ Certification to Stay Competitive in the Marketplace
The newly released 2025 National Green Building Standard (NGBS) provides many options for building more sustainably. NGBS Green Certification provides independent, third-party verification for a home, building, or land development. For those who wish to provide even more value for their clients, NGBS Green+ certifications recognize NGBS Green homes that go “above and beyond” in one or more areas of sustainability. Here are the seven certification options.
Latest Economic News
Economics
Aug 11, 2026
Existing Home Sales Fall in July
Existing home sales continued to slow in July as record-high home prices and elevated mortgage rates weighed on buyers. Mortgage rates resumed an upward trend after the ceasefire ended in early July.
Economics
Aug 11, 2026
Weaker Demand for Residential Mortgages in Second Quarter
Demand for all types of residential mortgages was weaker, while lending standards for most were essentially unchanged in the second quarter of 2026, according to the recent release of the Senior Loan Officer Opinion Survey (SLOOS).
Economics
Aug 10, 2026
Wage Growth for Residential Building Workers Continues to Cool
Wage growth for residential building workers continued to lose momentum in the second quarter of 2026, reflecting softer housing construction activity and weaker labor demand. According to the latest data from the U.S. Bureau of Labor Statistics, both nominal and inflation-adjusted wages have weakened further, extending the cooling trend that emerged after the strong wage gains of the post-pandemic period.