Weekly Real Estate News
U.S. home prices continued rising in August, but national appreciation remained below inflation, according to two major indexes released Tuesday. The Federal Housing Finance Agency reported a 2.4% annual increase in its house-price index, while the S&P Cotality Case-Shiller national index recorded a 2.1% gain.
The FHFA report, released October 27, showed a seasonally adjusted monthly price increase of 0.3%. FHFA revised July’s monthly gain from 0.3% to 0.2%. All nine census divisions posted positive annual changes, ranging from 0.5% in the Mountain division to 4.4% in East North Central.
Prices Gain in Dollars, Lose Ground to Inflation
Case-Shiller’s national index rose 2.1% from August 2025, up from 1.9% annual growth in July. Its 10-city composite gained 3.6% over the year and its 20-city composite rose 2.7%. The national index increased 0.3% month over month on a seasonally adjusted basis.
With consumer prices rising 3.4% over the same 12-month period, the Case-Shiller figures imply a decline in inflation-adjusted home values for the 15th consecutive month. That is not the same as a decline in the dollar price of the typical home: both national indexes still show positive nominal annual appreciation.
The FHFA index relies principally on purchase-only transactions financed by Fannie Mae and Freddie Mac. Case-Shiller uses repeat-sales data and a different construction method. Their growth rates are therefore not directly interchangeable, although both point to a housing market where national appreciation has been modest and regional differences remain pronounced.
WRE News reported the prior month’s figures in September. Tuesday’s releases cover August and provide new data.
Sources: FHFA, October 27, 2026; S&P Cotality Case-Shiller Index.
