Housing: Remember it’s the Rearview

But it tells of inflation, nevertheless.

At 9 a.m. ET today, S&P Dow Jones Indices released the latest results of the S&P Cotality Case-Shiller Indices, formerly known as the S&P CoreLogic Case-Shiller Indices.

Data through May 2026 reveals the following:

Year-Over-Year

• • The S&P Cotality Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 1.1% annual gain in May, up from a 0.9% rise in the previous month.
  • The 10-City Composite saw an annual increase of 2.4%, up from a 1.8% increase in the previous month. The 20-City Composite posted a year-over-year increase of 1.6%, up from a 1.2% rise in the previous month.
  • Chicago, New York and Cleveland reported the highest year-over-year gains with year-over-year price increases of 6.9%, 4.2% and 3.1%, respectively.
  • Las Vegas posted the lowest return in May, falling -1.9% year over year.

Month-over-Month

• • The pre-seasonally adjusted 10-City Composite and 20-City Composite Indices recorded monthly gains of 0.9%, while the U.S. National Index posted a 0.6% gain.
  • After seasonal adjustment, the U.S. National reported a monthly decrease of 0.05% while the 10-City

and 20-City Composite Indices posted 0.3% and 0.1% gains, respectively.

Historical

• • Measured from its June 2022 peak, the 10-City Composite is up 12.5%.
  • The 20-City Composite is up by 9.4%.
  • The National Index is up 8.8% from its June 2022 peak.

Remember, add three zeroes to the right axis number fol the home price.

Write when so moved…,

~ure

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