Housing Updated

Just out from Case-Shiller/S&P latest housing prices:

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 1.3% annual gain in September, down from 1.4% the previous month.

The 10-City Composite annual increase came in at 2.0%, down from 2.1%the previous month. The 20-City Composite posted a 1.4% year-over-year gain, down from 1.6% in the previous month.

Chicago, New York and Boston reported the highest year-over-year gains with year-over-year price increases of 5.5%, 5.2% and 4.1%, respectively.
Tampa posted the smallest year-over-year growth, falling 4.1%.

Month-over-Month

The National Index posted a -0.3% month-over-month decrease while the 20-City and 10-City Composites both posted decreases of -0.5%before seasonal adjustment in September 2025.

After seasonal adjustment, the National Index posted a 0.2% increase while the 20-City and 10-City Composites posted increases of 0.1% and 0.2%.
Historical

Measured from its June2006 peak, the 10-City Composite is up 58.1%.
The 20-City Composite has eclipsed its July 2006 peak by 63.8%.
The National Index is up 78.2% from its July 2006 peak.

“The housing market’s deceleration accelerated in September, with the National Composite posting just a 1.3% annual gain—the weakest performance since mid-2023,” says Nicholas Godec, Head of Fixed Income Tradables & Commodities at S&P Dow Jones Indices . “The geographic rotation is striking. Markets that were pandemic darlings—particularly in Florida, Arizona, and Texas—are now experiencing outright price declines. Meanwhile, traditionally stable metros in the Northeast and Midwest continue to post solid gains, suggesting a reversion to pre-pandemic patterns where job markets and urban fundamentals drive appreciation rather than migration trends and remote-work dynamics.”

After the data, stock futures were mixed, maybe need the morning to rest up for more rally after Monday?

Write, etc.

~ure