US home price growth remains subdued in April

30th Jun 2026 14:14

(Sharecast News) - US home‑price growth remained subdued in April, according to the latest S&P Cotality Case‑Shiller data, with the national index rising 0.8% year‑on‑year, barely above March's 0.7% pace.

Nicholas Godec of S&P Dow Jones Indices said inflation running at 3.8% meant values had now fallen in real terms for an 11th straight month, continuing the erosion of inflation‑adjusted housing wealth. Godec said geographic dispersion remained marked, with the Midwest and Northeast still showing moderate gains while many Sun Belt and Western metropolitan markets posted declines.

Monthly movements showed typical spring strength on a non‑seasonally adjusted basis, with the national index up 0.8%, and the 10‑City and 20‑City composites rising 1.1% and 1.0%, respectively. After seasonal adjustment, however, the national index slipped 0.1%, while the 20‑City composite was essentially flat.

Godec said affordability remained a key headwind, with 30‑year mortgage rates climbing back to 6.3% in April. In the higher‑rate environment, he said, home‑price growth was constrained, leaving the market "treading water in nominal terms and falling in real terms".

The 10‑City composite rose 1.8% year‑on‑year, while the 20‑City composite increased 1.1%.

Reporting by Iain Gilbert at Sharecast.com