‘Tepid Growth’ in Housing Market as 2025 Numbers Finalize

We’re still not seeing major gains but the November 2025 numbers from an important Index are encouraging.

Home prices across the country increased 1.4 percent in November according to the latest Case-Shiller US National Home Price NSA Index, considered one of the most prestigious rating services in the business.

“November’s results confirm that the housing market has entered a period of tepid growth,” said Nicholas Godec, head of fixed income tradables and commodities at S&P Dow Jones Indices, which publishes the Case-Schiller numbers.

Even though this was encouraging, Godec said that with home price growth trailing inflation by more than one percentage point, the numbers mean that real home values are down over the past year despite the nominal growth.

“National home prices were only 1.4 percent higher than a year ago, unchanged from October’s annual pace and still near the weakest showing since mid-2023.”

Final 2025 numbers are due soon and will give a clearer indication of how the housing market performed for the entire calendar year.

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