It will come as no surprise to anyone that home prices aren’t moving much these days. Indeed, the latest S&P Cotality Case-Shiller Indices — out Tuesday — have, according to one economist, actually dashed hopes of a spring rebound.
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New data from the U.S. Federal Housing Finance Agency (FHFA), also out Tuesday, further sheds light on the situation. That data shows that in the first quarter of 2026, U.S. home prices rose a mere 0.46 percent relative to the previous three-month period. According to the FHFA’s report on the data, that represents the worst Q1 for home price growth in at least 10 years.
To visualize the situation, Inman has plotted years of data in the graph below. Zoom in to see shorter time frames, and scroll down to see how your state is doing.
U.S. Home Price Appreciation, 1991–2026
FHFA Purchase-Only House Price Index, seasonally adjusted, nominal. Quarterly change vs. year-over-year change.
Quarterly change
Year over year
Source: Federal Housing Finance Agency · Q1 2026 Report
Home Price Change by State
FHFA Purchase-Only House Price Index, period ended 2026 Q1. Hover any state for details.
Source: Federal Housing Finance Agency · Q1 2026 Report · Alaska and Hawaii shown inset via Albers projection
