The S&P CoreLogic Case-Shiller 20-City Home Price Index rose 1.6% year-on-year in August 2025, marking the smallest annual increase since July 2023 and falling short of market expectations of a 1.9% gain. August data show US home price growth continuing to slow, well below the 3% inflation rate. For the third consecutive month, home values across the 20 metropolitan areas have lagged behind inflation, meaning homeowners are experiencing a decline in real wealth even as nominal prices tick upward. New York once again led all 20 cities, posting a 6.1% annual increase in August, followed by Chicago and Cleveland with gains of 5.9% and 4.7%, respectively. At the other end of the spectrum, Tampa recorded the weakest performance, with prices falling 3.3% year-over-year.