S&P Dow Jones Indices released the October 2025 S&P CoreLogic Case-Shiller National Home Price Index, showing a modest 1.4% annual gain. This slightly exceeds the 1.3% rise reported last month but remains significantly lower than the average increases recorded in 2024, signaling a market slowdown.
Monthly data showed broad weakness across the market, as prices fell in 16 of the 20 major cities tracked. High mortgage rates continue to weigh on affordability and suppress price momentum across the housing sector.
The report highlighted persistent regional differences. Cities in the Midwest and Northeast, including Chicago and New York, saw the highest annual gains. Conversely, Sun Belt markets such as Tampa and Phoenix experienced year-over-year declines.