The latest S&P Cotality Case-Shiller Home Price Index reported that national U.S. home prices increased by 1.9% year-over-year in July 2026, up from 1.6% in June.
However, monthly price momentum remained subdued, with national prices edging up just 0.1% from June.
Regionally, Midwestern and Northeastern markets remained strong, with cities such as Chicago and New York posting gains of 6.9% and 5.8%. Southern and Western cities like Seattle and Las Vegas declined.
Homebuilders that can offer incentives such as mortgage-rate buydowns or closing-cost credits hold an advantage over traditional home sellers in the current market.
“July’s data indicates that price growth is gaining momentum, albeit unevenly,” said Thomas Malone, principal economist at Cotality. “National appreciation reached 1.9%, outperforming June in most major metros. While prices rose just 0.1% over the month, seller concessions are opening up opportunities for buyers. This may be short-lived, however, with higher mortgage rates continuing to create a moving target for buyers, extending the uphill battle into fall.”
