S&P Cotality Case-Shiller Reports Annual 1.9% Increase in July

Home Prices Rise but Still Lose to Inflation

The latest S&P Cotality Case-Shiller U.S. National Home Price NSA Index has reported a 1.9% annual increase for July, 2026. Their 10-City Composite posted 3.4% increase year-over-year and their 20-City Composite posted a 2.5% year-over-year increase. They say for the 14th consecutive month, U.S. home values fell in real terms, as July’s 3.4% inflation rate ran roughly 1.5 percentage points above the 1.9% home price gain.

“While home prices continued to decline in real terms in July 2026, marking the 14th consecutive month of real declines, slightly lower inflation and stronger nominal home price appreciation helped narrow the gap.” Said Rebecca Kaufman, Associate Director of Commodities at S&P Dow Jones Indices.