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U.S house price index, S&P/Case-Shiller, seasonally adjusted (1990=100)
December, 09, 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 | |
| 2022 | 2.51 | 0.18 | -2.36 | |
| 2021 | 2.33 | 2.95 | 3.35 | 2 |
| 2020 | 0.88 | 0.93 | 2.57 | 4.34 |
| 2019 | -0.64 | 0.15 | 0.72 | 1.16 |
| 2018 | 0.23 | 0.22 | 0.81 | 1.26 |
| 2017 | 0.25 | 0.86 | 0.94 | 1.83 |
| 2016 | 0.24 | -0.16 | 1.37 | 1.57 |
| 2015 | 0.48 | -0.11 | 1.69 | 2.18 |
| 2014 | -0.09 | -0.28 | 1.27 | 2.69 |
| 2013 | 1.66 | 2.5 | 2.34 | 2.23 |
| 2012 | -0.74 | 2.22 | 0.49 | 2.62 |
| 2011 | -3.35 | -1.09 | -1.36 | -0.9 |
| 2010 | -2.16 | -0.25 | -2.07 | -1.01 |
| 2009 | -4.35 | -1.76 | -0.17 | -0.06 |
| 2008 | -4.06 | -5.31 | -2.84 | -0.28 |
| 2007 | -1.72 | -3.53 | -1.56 | -2.53 |
| 2006 | 0.38 | -1.99 | -0.38 | 1.28 |
| 2005 | 2.45 | 2.61 | 0.84 | 3.57 |
| 2004 | 1.77 | 2.05 | 2.78 | 3.12 |
| 2003 | 0.16 | 2.2 | 1.92 | 3.35 |
| 2002 | 0.72 | 2.01 | 1.81 | 2.33 |
| 2001 | 0.53 | 0.49 | 1.62 | 2.35 |
| 2000 | 0.55 | 1.53 | 1.26 | 2.27 |
| 1999 | 0.95 | 1.13 | 0.94 | 1.78 |
| 1998 | 0.98 | 1.08 | 1.2 | 1.41 |
| 1997 | -0.02 | 0.56 | 0.34 | 1.39 |
| 1996 | -0.86 | 0.04 | -0.1 | 0.06 |
| 1995 | -0.75 | -0.49 | 0.18 | 0.33 |
| 1994 | -0.28 | 0.17 | -0.31 | 0.27 |
| 1993 | -0.94 | -0.06 | 0.23 | 0.2 |
| 1992 | -0.72 | -0.57 | -0.9 | 0.15 |
| 1991 | -1.68 | -0.18 | -0.61 | -0.69 |
| 1990 | -0.85 | -2.63 | -1.68 |
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.