The S&P Cotality Case-Shiller U.S. National Home Price NSA Index reported a 0.8% annual gain for April 2026, with the 10-City Composite rising 1.8% and the 20-City Composite increasing 1.1%, according to S&P Dow Jones Indices.
Chicago recorded the highest annual gain among the 20 cities at 6.5%, followed by New York at 3.8% and Cleveland at 3.2%, while Seattle posted the lowest return with a 2.3% decline.
On a non-seasonally adjusted basis, the National Index rose 0.8% from March, with the 10-City and 20-City Composites up 1.1% and 1.0%, respectively, though after seasonal adjustment the National Index dipped 0.1% and the 20-City Composite was essentially flat at -0.04%.
Nicholas Godec, Head of Fixed Income Tradables & Commodities at S&P Dow Jones Indices, noted that with inflation accelerating to 3.8% in April, U.S. home values have declined in real terms for an 11th straight month.
The latest six months saw a 1.35% national increase, offsetting a 0.5% decline in the prior six months, while 30-year mortgage rates climbed back to 6.3% in April, keeping financing costs elevated and constraining home price growth.