The pace of home-price growth across the United States continued to accelerate in August despite varying widely between markets. No. 1 Chicago saw prices jump, while lowest-ranked Seattle saw a decline.
The S&P Cotality Case-Shiller U.S. National Home Price NSA Index rose 2.1% year over year in August, up from a 1.9% gain in July. Month over month, the index slipped 0.02%.
S&P Dow Jones noted that home values actually fell in real terms for the 15th month in a row, as August’s 3.4% inflation erased the 2.1% gain in prices.
“U.S. home prices declined in real terms for the 15th consecutive month in August 2026, though the gap narrowed as nominal home price growth strengthened,” said Rebecca Kaufman, associate director of commodities at S&P Dow Jones Indices. “Affordability, however, remains challenging. With inflation at 3.4%, Brent crude near $100 per barrel and mortgage rates in the mid-to-high 6% range, households continue to face elevated costs alongside persistently high home prices.”
In Dallas, home prices fell 0.79% both year over year and month over month in August.