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Case-Shiller rises 1.1% in May, but lags inflation

The national index increased to 335.1 in May, while inflation ran at 4.2%, leaving home prices down in real terms.

Reported · Written up by our desk · Residential

HousingWire reports that the S&P CoreLogic Case-Shiller National Home Price Index rose 1.1% year over year in May, following a 0.6% month over month gain from April.

However, May inflation of 4.2% meant home prices still declined in real terms. S&P Dow Jones Indices associate director Rebecca Kaufman said that even on a nominal basis, the market remained weaker than a year ago.

S&P CoreLogic also showed regional dispersion, with Chicago recording the largest annual gain at 6.9% in May. New York was up 4.2% and Cleveland rose 1.9%, while Seattle posted the biggest annual decline at 1.83%.

HousingWire Data cited by the outlet also pointed to softer conditions more recently, showing a median list price of $449,900 for the week ending July 24, 2026, down 1.8% year over year and 2.1% versus the prior month.

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