03:44 PM EDT, 04/29/2025 (MT Newswires) -- US home price growth slowed in February both sequentially and annually as demand softened, though tight supply continued to underpin home prices, S&P Global ( SPGI ) division S&P Dow Jones Indices said Tuesday.

Nationally, the S&P CoreLogic Case-Shiller Index grew 0.3% sequentially in February after seasonal adjustments, following a 0.6% gain the month prior.

Annually, prices rose 3.9%, slower than a 4.1% increase in January. Growth decelerated for both the 10- and 20-city composites.

"Even with mortgage rates remaining in the mid-6% range and affordability challenges lingering, home prices have shown notable resilience," said Nicholas Godec, head of fixed income tradables and commodities at S&P Dow Jones Indices. "Buyer demand has certainly cooled compared to the frenzied pace of prior years, but limited housing supply continues to underpin prices in most markets."

Of the 20 cities, New York posted the biggest annual growth of 7.7%, followed by Chicago and Cleveland. Home prices in Tampa fell 1.5%, the only market that posted a year-over-year decline.

Seventeen of the 20 metros posted monthly price gains.

Separately, the Federal Housing Finance Agency said home prices increased 0.1% on a seasonally adjusted basis in February, compared with January's upwardly revised growth of 0.3%. Annually, prices rose 3.9%.

Last week, data released by the National Association of Realtors showed US existing home sales decreased more than analysts expected in March as prices reached a record high for the month.

Price: 494.10, Change: +14.73, Percent Change: +3.07