By Paulina Cachero
(Bloomberg) — Home-price growth in the U.S. ticked up in October, as cities in the Northeast outpaced Sun Belt metro areas.
A national gauge of prices climbed 1.4% from a year earlier, according to data from S&P Cotality Case-Shiller. That followed a 1.3% year-over-year increase for the index in September.
A bigger supply of listings across much of the country has given buyers more leverage in negotiations with sellers, tamping down price growth. But not many shoppers have had the appetite to make a deal. While mortgage rates came down slightly over the three months through October, they stayed above 6%. Fears of a recession and the weakening job market also kept transactions subdued.
“October’s data show the housing market settling into a much slower gear,” Nicholas Godec, head of fixed income tradables and commodities at S&P Dow Jones Indices, said in a statement. “National home prices also continue to lag consumer inflation.”
Among 20 major cities, Chicago topped the index, with a 5.8% annual gain in prices. Following were New York, with a 5% increase, and Cleveland at 4.1%.
Prices fell the most in Tampa, with a 4.2% annual decline. Dallas, Miami and Phoenix also saw drops.
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Last modified: December 30, 2025
