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2026-05-26 21:40:15
[US Home Prices Fall 0.2% in March, Sellers' Pricing Power Limited, Weakest Growth in 14 Years Emerges] ⑴ The S&P CoreLogic Case-Shiller 20-City Home Price Index, released Tuesday, fell 0.2% month-over-month in March, weaker than the market expectation of a 0.1% increase. The FHFA Home Price Index rose 0.1% month-over-month during the same period. ⑵ The Case-Shiller index's year-over-year increase fell from 0.9% to 0.8%, below the expected 1.0%, the lowest level since July 2023; the FHFA year-over-year increase fell from 1.8% to 1.7%, the weakest performance in 14 years. ⑶ Of the 20 cities surveyed by Case-Shiller, 15 saw seasonally adjusted month-over-month home price declines, while only 4 saw increases. The cities with the largest declines included Seattle, Tampa, Los Angeles, San Diego, Portland, and Dallas, while the cities with the largest increases were Chicago, Boston, Miami, and New York. ⑷ With mortgage rates rising slightly, sellers' pricing power has not shown significant improvement, but this could change if inventory increases continue to fall below seasonal norms. (5) FHFA data shows that five of the nine census districts saw a month-on-month decline in house prices, with the strongest increase occurring in the mountainous areas and the eastern, central and northern areas, and the weakest decline occurring in the western, central and southern areas.
