Home Price Gains Moderate for Third Straight Month
Home prices experienced a third year-over-year deceleration in May, according to the S&P CoreLogic Case-Shiller U.S. National Home Price Index (HPI). On a year-over-year basis, the non-seasonally adjusted (NSA) index posted a 5.94% annual gain in May, down from a 6.39% increase in April. The index had seen steady increases in year-over-year growth since June 2023. But this growth rate began slowing in March 2024 and has continued to decelerate through May.
The HPI increased at a seasonally adjusted annual rate of 3.09% for May, following a revised rate of 3.91% in April. May marks the 16th consecutive monthly increase; home prices have not seen an outright decrease since January 2023.
Onnah Dereski, NAHB economic services manager, delves into specifics for each census division in this Eye on Housing post.
Latest from NAHBNow
Education | Business Management
Jan 06, 2026
A Beginner’s Guide for Builders to Save Time and Improve Communication with AIWhile some have been quick to adopt artificial intelligence into their personal lives and business practices, others are doing so much more gradually — or not at all — because they may feel skeptical or intimidated. This month, NAHB will host a weekly series of free webinars exclusively for NAHB members that will offer a simple, practical introduction to AI.
Membership | Leadership Meetings
Jan 05, 2026
Leadership Council Delegate Nominations Due Jan. 30NAHB members who are interested in serving as a delegate to NAHB's 2026 Leadership Council are encouraged to contact their local home builders’ association (HBA). The deadline for HBAs to nominate delegates to the 2026 Leadership Council is Friday, Jan. 30.
Latest Economic News
Economics
Jan 05, 2026
Housing Share of GDP: Third Quarter 2025Housing’s share of the economy was 16.1% in the third quarter of 2025, according to the latest estimates of GDP produced by the Bureau of Economic Analysis. This share is down from 16.3% in the second quarter but has remained about 16% since the fourth quarter of 2019.
Economics
Jan 05, 2026
Strong Economic Growth for Third QuarterA belated GDP report shows that the U.S. economy expanded at a strong pace in the third quarter–July through September–before signs of cooling appeared in the labor market and consumer confidence weakened.
Economics
Jan 02, 2026
Top Posts – The Power of Women in the WorkforceOver the past 125 years, women have played a crucial and multifaceted role in the labor force. Increasing women’s participation in the workforce is not only essential for individual and family well-being, but also contributes significantly to overall labor force participation rates and economic growth by adding more workers and enhancing overall productivity.