The S&P CoreLogic Case-Shiller National Home Price Index fell-0.4% MoM (NSA: 0.6% MoM) in April 2025 and was up 2.7% YoY, slowing from 3.4% YoY in March and marking the weakest annual gain since mid-2023.

• The 10-City Composite rose fell -0.3% MoM (NSA: 0.7% MoM) and 4.1% YoY, down from 4.8% YoY in March.
• The 20-City Composite increased fell -0.3% MoM (NSA: 0.75% MoM) and 3.4% YoY (vs 4.0% YoY expected), down from 4.1% YoY.
• New York (+7.9% YoY), Chicago (+6.0%), and Detroit (+5.5%) posted the strongest annual gains; Tampa (-2.2%) and Dallas (-0.2%) recorded YoY declines.
• On an NSA MoM basis, 18 of 20 metros saw price increases, led by Detroit (+1.5%) and Boston (+1.5%).
• Affordability pressures, mid-6% mortgage rates, and low housing supply are shaping a more regionally divergent, fundamentals-driven market.