12:46 PM EDT, 08/26/2025 (MT Newswires) -- US home prices fell sequentially in June, while the annual growth rate was the slowest since the summer of 2023, S&P Global ( SPGI ) division S&P Dow Jones Indices said Tuesday.

Nationally, the S&P Cotality Case-Shiller Index, formerly known as the S&P CoreLogic Case-Shiller Index, dropped 0.3% month on month in June after seasonal adjustments, following a 0.3% decrease in May. The 10- and 20-city composite indexes were down 0.1% and 0.3%, respectively.

Prices rose 1.9% annually in June, easing from a 2.3% gain the month before and representing the slowest pace of growth since the summer of 2023, according to Nicholas Godec, head of fixed income tradables and commodities at S&P Dow Jones Indices. Growth decelerated for both the 10- and 20-city composites on a yearly basis.

"The modest 1.9% annual gain masks significant volatility, with the first half of the period showing declining prices that were more than offset by a 2.5% surge in the most recent six months, suggesting the housing market experienced a meaningful inflection point around the start of 2025," Godec said. "For the first time in years, home prices are failing to keep pace with broader inflation."

Among the 20 cities, New York again logged the highest annual gain in home prices for June, followed by Chicago and Cleveland. Tampa's 2.4% decline was the "worst performance among all tracked metros," according to the report.

"Looking ahead, this housing cycle's maturation appears to be settling around inflation-parity growth rather than the wealth-building engine of recent years," Godec said.

Separately, the Federal Housing Finance Agency said home prices fell 0.2% sequentially in June, following a 0.1% drop the previous month. In the second quarter, prices advanced 2.9% annually, but were unchanged from the previous quarter.

Price: 547.60, Change: -3.13, Percent Change: -0.57