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U.S house price index, S&P/Case-Shiller, seasonally adjusted (1990=100)
March, 17, 2023
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 | |
| 2022 | 1.96 | 0.5 | -1.19 | -0.03 |
| 2021 | 2.36 | 2.2 | 3.08 | 2.45 |
| 2020 | 1.44 | 1.17 | 2.65 | 4.32 |
| 2019 | 0.8 | 0 | 1.07 | 1.5 |
| 2018 | 0.95 | 0.17 | 0.99 | 1.21 |
| 2017 | 0.49 | 1.18 | 1.15 | 1.13 |
| 2016 | 1.18 | 0.26 | 1.17 | 1.34 |
| 2015 | 1.92 | 0.06 | 0.97 | 1.9 |
| 2014 | 0.44 | -0.28 | 0.98 | 2.13 |
| 2013 | 1.46 | 1.46 | 1.2 | 1.27 |
| 2012 | -0.37 | 0.75 | 1.02 | 1.47 |
| 2011 | -3.42 | -2.55 | -0.1 | 0.36 |
| 2010 | -1.32 | -0.95 | -1.75 | -1.29 |
| 2009 | -0.1 | -2.44 | -1.15 | -0.26 |
| 2008 | -3.41 | -4.88 | -3.65 | -0.1 |
| 2007 | -0.41 | -2.14 | -1.55 | -2.51 |
| 2006 | 0.94 | -0.98 | -0.4 | 1.33 |
| 2005 | 1.84 | 1.29 | 1.4 | 1.59 |
| 2004 | 1.31 | 1.07 | 2.21 | 1.87 |
| 2003 | 0.75 | 1.24 | 1.47 | 2.24 |
| 2002 | 1.3 | 0.74 | 1.48 | 1.68 |
| 2001 | 0.88 | 0.58 | 1.39 | 1.85 |
| 2000 | 0.77 | 0.61 | 0.77 | 1.19 |
| 1999 | 1.07 | 0.52 | 0.9 | 0.88 |
| 1998 | 0.98 | 0.85 | 0.91 | 1.28 |
| 1997 | -0.03 | 0.42 | 0.32 | 0.69 |
| 1996 | -0.04 | -0.32 | 0.09 | -0.14 |
| 1995 | -0.23 | -0.28 | 0.49 | 0.09 |
| 1994 | 0.27 | 0.18 | -0.28 | 0.04 |
| 1993 | -0.8 | 0.22 | 0.37 | 0.25 |
| 1992 | 0.48 | -0.95 | 0.05 | 0.09 |
| 1991 | -0.59 | -0.6 | 0.13 |
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.