The S&P Case Shiller National Home Price Index increased 0.3% MoM (NSA: 0.4% MoM) and 3.9% YoY in February, down from 4.1% YoY in January.

• The 20-City Composite increased 0.4% MoM (NSA: 0.7% MoM), and 4.5% YoY, down from 4.7% YoY and below expectations of a 4.7% YoY increase.
• The 10-City Composite increased 0.5% MoM (NSA: 0.8% MoM) and 5.2% YoY, down from 5.4% YoY.
• Regional trends remained divergent. New York led all markets with a 7.7% annual increase, followed by Chicago (7.0%) and Cleveland (6.6%).
• Tampa again posted the weakest performance, with prices declining -1.5% YoY.
• Markets that had previously experienced rapid appreciation, particularly
• in the Sun Belt, continue to adjust as higher financing costs and affordability constraints weigh more heavily on buyer demand.