Home Prices Rose 1.7% YOY in July, Says Case-Shiller

New York, NY, September 30, 2025-Home prices made a 1.7% annual gain for July, down from a 1.9% rise in the previous month, reports the S&P Cotality Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions. The Ten-City Composite increased 2.3%, down from a 2.7% rise in the previous month. The 20-City Composite posted a year-over-year gain of 1.8%, down from a 2.2% increase in the previous month.

New York again reported the highest annual gain among the 20 cities with a 6.4% increase in July, followed by Chicago and Cleveland with annual increases of 6.2% and 4.5%, respectively. Tampa posted the lowest return, falling 2.8%. The chart below compares year-over-year returns for different housing price ranges (tiers) in New York.

The pre-seasonally adjusted U.S. National Index saw a slight downward trend, falling -0.2%. Both the Ten-City Composite and 20-City Composite Indices posted drops of -0.3%, respectively.

After seasonal adjustment, the U.S. National Index posted a decrease of -0.1%. Both the 10-City Composite and 20-City Composite Indices posted drops of -0.1%, respectively.