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Home prices rose in June, but inflation kept values down in real terms

S&P CoreLogic Case-Shiller said June prices rose 1.5% year over year to 336.66, yet values fell in real terms for the 13th month as inflation ran at 3.5%.

Reported · Written up by our desk · Residential

U.S. home prices picked up speed in June, but inflation continued to erode purchasing power, according to the S&P CoreLogic Case-Shiller Index released Tuesday, as covered by HousingWire. The index showed home prices up 1.5% year over year in June, bringing the national reading to 336.66. Prices were also up 0.4% month over month. However, with inflation at a 3.5% annual rate in June, home values fell in real terms for the 13th straight month. Rebecca Kaufman, associate director of commodities at S&P Dow Jones Indices, said in a statement that while real-term declines persist, lower inflation and firmer nominal price growth in June helped slow the erosion. HousingWire also cited more up-to-date HousingWire Data showing softer home price appreciation for the week ending August 22, 2026, with a median list price of $442,500, down 1.6% year over year and 1.5% versus a month prior. Among major metro areas, as of the end of June 2026 Ocean City, New Jersey posted annual median list price growth of 29.4%, Grand Forks, North Dakota-Minnesota rose 27.5%, and Pine Bluff, Arkansas gained 20.9%. In the 20-city composite, Chicago saw the largest annual gain at 6.9%, followed by New York at 4.8% and Cleveland at 4.1%, while Seattle led price declines at minus 2.0%, with Los Angeles down 1.9% and Denver down 1.24%. Kaufman said she expects softer price appreciation into fall, noting that June typically falls near the peak of the homebuying season.

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