U.S house price index, S&P/Case-Shiller, seasonally adjusted (Q1 1990=100)
March, 10, 2022
United States
Real estate price trends in the United States. We use the Federal Housing Finance Agency (FHFA) quarterly indices for single-family detached properties in 20 major metropolitan areas utilizing repeat-sales methodology.
House prices in U.S. (S&P/Case-Shiller), % change 1 yr
Nominal and inflation-adjusted ('real')
United States
Source: S&P/Case-Shiller
Quarterly change in house prices, inflation-adjusted
| Q1 | Q2 | Q3 | Q4 | |
| 2021 | 2.79 | 2.65 | 2.58 | 1.78 |
| 2020 | 1.65 | 1.44 | 2.36 | 3.99 |
| 2019 | 0.98 | 0.1 | 0.89 | 1.29 |
| 2018 | 1.07 | 0.2 | 0.91 | 1.14 |
| 2017 | 0.51 | 1.21 | 1.14 | 1.09 |
| 2016 | 1.22 | 0.27 | 1.16 | 1.34 |
| 2015 | 1.92 | 0.06 | 1.01 | 1.88 |
| 2014 | 0.48 | -0.29 | 0.98 | 2.13 |
| 2013 | 1.45 | 1.49 | 1.2 | 1.26 |
| 2012 | -0.38 | 0.78 | 1 | 1.48 |
| 2011 | -3.42 | -2.53 | -0.09 | 0.34 |
| 2010 | -1.32 | -0.96 | -1.72 | -1.3 |
| 2009 | -0.1 | -2.47 | -1.13 | -0.28 |
| 2008 | -3.41 | -4.88 | -3.64 | -0.07 |
| 2007 | -0.4 | -2.13 | -1.54 | -2.5 |
| 2006 | 0.93 | -0.97 | -0.39 | 1.34 |
| 2005 | 1.84 | 1.29 | 1.39 | 1.59 |
| 2004 | 1.31 | 1.07 | 2.23 | 1.87 |
| 2003 | 0.75 | 1.24 | 1.48 | 2.24 |
| 2002 | 1.31 | 0.74 | 1.49 | 1.67 |
| 2001 | 0.88 | 0.57 | 1.4 | 1.85 |
| 2000 | 0.77 | 0.62 | 0.77 | 1.2 |
| 1999 | 1.07 | 0.52 | 0.92 | 0.88 |
| 1998 | 0.98 | 0.85 | 0.91 | 1.28 |
| 1997 | -0.04 | 0.42 | 0.32 | 0.69 |
| 1996 | -0.04 | -0.33 | 0.1 | -0.14 |
| 1995 | -0.21 | -0.29 | 0.49 | 0.1 |
| 1994 | 0.28 | 0.17 | -0.27 | 0.03 |
| 1993 | -0.79 | 0.21 | 0.37 | 0.25 |
| 1992 | 0.49 | -0.96 | 0.06 | 0.09 |
| 1991 | -0.6 | -0.59 | 0.12 |
This table shows the change in house prices during a single quarter, adjusted for inflation.
Adjusting house price rises (or declines) for inflation produces a more accurate picture of the change in value of housing than the usual nominal figures cited in the newspapers.
