US Home Prices Rise Fifth Month in Top 20 Cities

Home prices across the top 20 cities in the United States increased for the fifth consecutive month in August 2026. According to data from S&P Dow Jones Indices, prices rose 0.27% month-over-month and 2.65% year-over-year.

Regional performance varied significantly. Chicago recorded the highest annual gain at 6.7%, followed by New York at 6.2% and Cleveland. In contrast, Seattle experienced the largest annual decline at 2.0%, with Las Vegas and Denver also seeing price drops.

Despite these nominal increases, home prices have declined in real terms for 15 straight months because price growth remains lower than the inflation rate of 3.4%. Market conditions remain subdued, driven by tight inventory and affordability pressures as mortgage rates persist in the mid-to-high 6% range.