Home prices increased 3.4% in March compared to the same month a year ago, down from a 4% rise the previous month, according to the S&P CoreLogic Case-Shiller Index. The 10-city composite rose 4.8% year over year compared to a 5.2% increase the previous month. The 20-city composite increased 4.1% year over year, down from a 4.5% increase the previous month. New York City reported the highest year-over-year gain among the 20 cities with an 8% increase in March, followed by Chicago and Cleveland, with increases of 6.5% and 5.9%, respectively.
Meanwhile, the Federal Housing Finance Agency’s House Price Index showed that home prices were down 0.1% in March compared to the previous month. Prices rose 4% between the first quarter of 2024 and the first quarter of 2025. The FHFA index is calculated using the prices of houses bought with mortgages backed by Fannie Mae and Freddie Mac.
