The momentum in major U.S. housing markets paused in July, as the S&P/Case-Shiller Home Price Index (HPI) Composite-20 non-seasonally adjusted reading showed no month-over-month change. The index registered a 0.0% move in July 2026, down from a 0.4% increase recorded in June 2026.
The data, updated on 29 September 2026, highlights a clear cooling in short-term price growth across the 20 largest U.S. metropolitan areas. On a month-over-month basis, the “actual” July figure represents a comparison of price changes to June, while the “previous” June reading reflected price growth versus May. The shift from 0.4% to 0.0% suggests that, at least for July, upward pressure on prices in these key urban markets has temporarily leveled off.