FX.co ★ US Home Prices Edge Lower as S&P/Case-Shiller 20-City Index Slips 0.1% in December

The S&P/Case-Shiller Home Price Index (HPI) Composite-20 non-seasonally adjusted for the United States recorded a slight Month-over-Month decline in December 2025, slipping by 0.1%. This follows a flat reading of 0.0% in November 2025, indicating that prices were unchanged in the prior month compared with October.

The December figure, updated on 24 February 2026, suggests a modest cooling in home prices across the 20 major metropolitan areas tracked by the index. On a Month-over-Month basis, the latest data show that, after a period of stabilization in November, price momentum turned marginally negative heading into the end of the year.

Given the comparison methodology—where the “Actual” reflects the change from December to November and the “Previous” reflects the change from November to October—the move from 0.0% to -0.1% underscores a slight softening rather than a sharp correction in urban U.S. housing markets. Investors and policymakers may view this as an early signal of easing price pressures after a period of stability.