Forex Short News

Guilty…I missed the CaseShiller data. CaseSchiller home prices fell -0.3% in May

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The Case Schiller home price index for the 20 largest cities fell -0.3% in May vs -0.2% estimate. The prior month remained at -0.3%.

  • YoY prices rose 2.8% vs 3.0%. That is down from 3.4% last month.

The 20-City Composite posted a year-over-year increase of 2.8%, down from a 3.4% increase in the previous month. New York again reported the highest annual gain among the 20 cities with a 7.4% increase in May, followed by Chicago and Detroit with annual increases of 6.1% and 4.9%, respectively. Tampa posted the lowest return, falling 2.4%.

The 10-City Composite saw an annual increase of 3.4%, down from a 4.1% annual increase in the
previous month

More details:

  • Regional divergence is widening: New York (+7.4%), Chicago (+6.1%), and Detroit (+4.9%) lead gains, while Tampa saw a -2.4% drop, its 7th straight annual decline.

  • Western markets remain weak, with San Francisco turning negative (-0.6%) and minimal gains in LA (+1.1%), San Diego (+0.4%), and Phoenix (+0.9%).

  • Monthly price growth has stalled: Headline indices rose just 0.4% (non-seasonally adjusted) and fell -0.3% (seasonally adjusted) — the third straight monthly decline.

  • Only four cities (Cleveland, Minneapolis, Charlotte, Tampa) saw month-over-month acceleration, signaling narrowing momentum.

  • The slowdown now reflects more than just high mortgage rates—it’s due to tight financial conditions, low transaction volume, and local market shifts.

  • Affordability pressures and tight inventory are keeping national home prices flat—but barely.

Here is the data in bullet format with each city’s May/April MoM change and 1-year change on one line:

  • Atlanta: +0.56% MoM, +1.70% YoY

  • Boston: +1.31% MoM, +4.64% YoY

  • Charlotte: +1.08% MoM, +2.55% YoY

  • Chicago: +1.22% MoM, +6.10% YoY

  • Cleveland: +1.42% MoM, +4.82% YoY

  • Dallas: +0.73% MoM, +0.61% YoY

  • Denver: +0.15% MoM, -0.01% YoY

  • Detroit: +1.08% MoM, +4.91% YoY

  • Las Vegas: +0.44% MoM, +3.30% YoY

  • Los Angeles: +0.11% MoM, +1.10% YoY

  • Miami: -0.12% MoM, +0.59% YoY

  • Minneapolis: +0.36% MoM, +2.55% YoY

  • New York: +0.49% MoM, +7.40% YoY

  • Phoenix: +0.20% MoM, +0.90% YoY

  • Portland: +0.56% MoM, +0.74% YoY

  • San Diego: +0.09% MoM, +0.40% YoY

  • San Francisco: -0.05% MoM, -0.64% YoY

  • Seattle: +0.12% MoM, +0.37% YoY

  • Tampa: +0.52% MoM, -2.42% YoY

  • Washington: +0.70% MoM, +3.26% YoY

This article was written by Greg Michalowski at investinglive.com.