A brief excerpt:
Yesterday, in Part 1: Current State of the Housing Market; Overview for mid-November 2025 I reviewed home inventory and sales. I noted that the key stories this year for existing homes are that inventory increased sharply, and sales are down slightly year-to-date compared to last year (and sales in 2024 were the lowest since 1995). That means prices are under pressure.
In Part 2, I will look at house prices, mortgage rates, rents and more.
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The Case-Shiller National Index increased 1.5% year-over-year (YoY) in August and will likely be about the same year-over-year in the September report compared to August (based on other data).
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In the January report, the Case-Shiller National index was up 4.2%, in February up 3.9%, in March up 3.4%, in April report up 2.7%, in May up 2.3%, in June up 1.9% in July 1.7% and in August 1.5%.And the August Case-Shiller index was a 3-month average of closing prices in June, July and August. June closing prices include some contracts signed in April.
So, not only is this trending down, but there is a significant lag to this data.
There is much more in the article.