The Case-Shiller Home Price Index was updated last month with data through April.

The index doesn’t give you home prices in dollars and cents, it uses an index based on home prices in January 2000 in each city. That way it’s easy to compare home price appreciation between the 20 cities covered by the Case-Shiller Home Price Index.

Who’s Hot

From 12 months ago, home prices are up:

  • 13.1% in Seattle,
  • 12.7% in Las Vegas, and
  • 10.9% in San Francisco.

That’s scary fast appreciation.

Three hottest real estate markets June 2018

Click on graph to see larger version. Then click “Back” to return here.

Who’s Not

In the three slowest appreciating metros covered by the Index prices are up only:

  • 3.0% in Chicago,
  • 3.2% in Washington D.C., and
  • 4.0% in New York.

Three coolest major real estate markets in the United States

Historically, 3% to 4% appreciation is decent but today the national appreciation rate is 6.4%.

New York: We’ve been hearing for years about unbelievably expensive high-rise homes in Manhattan but apparently, that hasn’t rubbed off on the metro area as a whole. (I’m surprised we haven’t heard more about the metro New York market lagging the national market, especially since New York is the center of media and publishing in the country.)

Washington D.C.: This market was famous for being one of the first markets to stop falling during the real estate bust. From 2009 through 2012, Washington DC had the highest home price index of any Case-Shiller city. Now Detroit (up 7.6%) is appreciating more than twice as fast as Washington DC.


Overall, you can see the U.S. residential real estate market has been appreciating strongly for six years.

United States home prices 2000 to 2018

Nationally, nominal home prices have been above their 2006 peak for a year and a half. On an inflation-adjusted basis, however, U.S. home prices are still 12% below the peak 12 years ago.

To see the interactive charts, click here.

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