US Home Price Growth Stays Subdued in December

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The S&P Cotality Case-Shiller 20-City Home Price Index rose 1.4% year over year in December 2025, matching November’s pace and market expectations. However, annual price growth remains close to its weakest level in more than two years, highlighting continued cooling in the US housing market. Home price gains also trailed consumer inflation, which stood at 2.7% in December. As a result, real home values effectively declined over the past year, with nominal price growth lagging inflation by about 1.3 percentage points.

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