U.S. home prices rose 2.1% year over year in June, according to the S&P/Case-Shiller Home Price Indices, exceeding the 1.7% forecast and accelerating from a revised 1.9% increase in May. The national composite gained 0.5% month over month before seasonal adjustment and 0.2% after adjustment, while the 20-city index rose 2.2% annually. A separate Fannie Mae and Freddie Mac measure of single-family home prices showed no monthly change in June 2026, missing expectations for a 0.2% increase, but rose 0.3% in the second quarter from the first quarter and 2.1% from a year earlier. Regional performance varied widely: San Diego, New York and Cleveland recorded the strongest gains among the tracked metropolitan areas in the Case-Shiller data, while Alaska led state-level gains in the Fannie-Freddie measure at 8.3%. The results point to a resilient but cooling housing market, supported by limited inventory and demographic demand, while mortgage rates near 7% continue to pressure affordability.