12:33 PM EDT, 06/30/2026 (MT Newswires) -- US home price growth accelerated annually in April, though the value of homes continued to deteriorate in real terms as high inflation outpaced price gains, S&P Global ( SPGI ) division S&P Dow Jones Indices said Tuesday.

The national S&P Cotality Case-Shiller Index rose 0.8% year over year in April without seasonal adjustments, up from a 0.7% increase the month prior. The 10- and 20-city composites advanced 1.8% and 1.1%, respectively. Those measures accelerated from March's growth rates of 1.5% and 0.9%, respectively, according to the report.

"April's figures confirm that US home prices remain essentially flat," said Nicholas Godec, head of fixed income tradables and commodities at S&P Dow Jones Indices. "With inflation accelerating to 3.8% in April, US home values have now declined in real terms for an 11th straight month, further eroding inflation-adjusted housing wealth."

Markets in the Midwest and Northeast are "still leading moderate growth" in home prices, while much of the Sun Belt and Western regions continue to see declines, according to Godec.

Among the 20 cities, Chicago logged the highest annual price gain of 6.5% in April, followed by New York and Cleveland. Prices in Seattle fell 2.3%, the steepest decline, the data showed.

Sequentially, pre-seasonally adjusted national home prices increased 0.8% in April, compared with a 0.7% rise the month prior. The 10-city composite index was up 1.1%, while the 20-city composite increased 1%, the data showed. In March, the 10- and 20-city composites advanced 1.2% and 1.1%, respectively, according to the report.

"Monthly price movements show seasonal strength masking underlying softness," Godec said. "After dipping below 6% earlier this year, 30-year mortgage rates climbed back to 6.3% in April, keeping financing costs elevated."

Home price growth continues to be constrained in a higher rate environment, with housing mainly "treading water in nominal terms and falling in real terms," Godec added.

Separately, the Federal Housing Finance Agency said US home prices decreased 0.1% sequentially in April, following a 0.2% rise the month before, which was the consensus in a Bloomberg-compiled survey. Annually, prices increased 2% in April, the FHFA said.

Earlier this month, a survey by Redfin showed that US home prices increased 0.3% in May on a seasonally adjusted basis, the fastest monthly gain since January.

Price: 406.21, Change: -2.35, Percent Change: -0.58