US 20-City Case-Shiller House Price Index (SA)
US 20-City Case-Shiller House Price Index (SA) stood at 345.58 in Jul 2026, according to FRED (Federal Reserve Bank of St. Louis). It is one of the indicators in the House prices table (Value · Monthly), with a complete series running from Jan 2000 to Jul 2026. The complete series with an interactive chart, free to download.
This indicator in the House prices table
| Indicator | 07-2026 | 06-2026 | 05-2026 | 04-2026 | 03-2026 | 02-2026 | 01-2026 | 12-2025 | 11-2025 | 10-2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Case-Shiller — SA | |||||||||||
| 20-City Composite | 345.58 | 344.48 | 343.57 | 342.73 | 342.69 | 343.03 | 343.04 | 342.31 | 340.76 | 339.08 | |
| National | 333.24 | 332.29 | 331.69 | 331.45 | 331.66 | 332.17 | 331.95 | 331.19 | 330.06 | 328.84 |
Understanding US 20-City Case-Shiller House Price Index (SA)
After aggregating repeat-sales pairs of single-family homes across twenty major metropolitan areas, this series removes seasonal fluctuations to reflect underlying price movements. The methodology does not take average prices of recently sold homes, making it less susceptible to distortion when transaction segments shift. Compared to the ten-city composite, it adds several local markets; compared to the national index, coverage remains limited to urban areas; and the unadjusted version preserves seasonal rhythms within the data.
Month-on-month changes carry more significance in this series, especially when identifying whether prices are accelerating or decelerating. Even so, overinterpreting a single new observation should be avoided because transactions may be added and seasonal models recalculated. Index points represent only the relationship with the benchmark period, not house prices in monetary terms. Year-on-year comparisons provide a useful supplementary check, while comparisons across composites require noting differences in composition and city weightings.
Frequently asked questions
- Should one look at the twenty-city composite or the national index?
- The metropolitan composite is suited for tracking major markets, while the national series is more appropriate when a broad geographic picture is needed.
- Does seasonal adjustment remove all short-term fluctuations?
- No. It only reduces recurring seasonal patterns, while supply-demand shocks and transaction noise persist.
- Can index point levels be compared directly across different series?
- Comparisons should only be made when the base period and scope of each series are understood; rates of change are generally more meaningful than point level differences.