U.S. home prices recorded a 3.4% annual gain in March 2025, a slight decrease from the previous reading of 4% in February, S&P Dow Jones Indices said Tuesday. The S&P CoreLogic Case-Shiller Indices also showed a slowing pace of pricing growth in the 10-City Composite and 20-City Composite indices for March.
“Home price growth continued to decelerate on an annual basis in March, even as the market experienced its strongest monthly gains so far in 2025,” said Nicholas Godec, head of fixed income tradables & commodities at S&P Dow Jones Indices. “This divergence between slowing year-over-year appreciation and renewed spring momentum highlighted how the housing market shifted from mere resilience to a broader seasonal recovery. Limited supply and steady demand drove prices higher across most metropolitan areas, despite affordability challenges remaining firmly in place.”
Among metro areas, New York, Detroit and Cleveland saw the strongest year-over-year pricing growth at 8.0%, 5.9% and 5.8%, respectively.
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