What Is the Case-Shiller U.S. National Home Price Index?

By Kristi Waterworth – Updated May 28, 2026 at 10:04 AM EST

Key Points

The Case-Shiller U.S. National Home Price Index tracks U.S. home price changes using repeat sales data.
Monthly readings use a 3-month average to smooth out data anomalies.
A rising Index suggests economic growth and increased homeowner spending.

Are you trying to get a better grasp on the economy's general direction? Concerned about how housing is performing? The Case-Shiller U.S. National Home Price Index can help answer these questions and more if you understand how it works.

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Miniature houses on top of stacks of coins. — Image source: Getty Images.

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Each house being counted must sell again. So, if people held on to their homes as long as they could and then experienced a foreclosure, for example (as in 2007), it wouldn't show up on the Case-Shiller Housing Index until the foreclosure transaction had fully completed, creating a huge lag.

For that and other reasons, it's important to consider the Case-Shiller Housing Index as just one of many tools to help guide your investing decisions. Whether investing in real estate or long-term securities, a healthy economy is good for your future.

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About the Author

Kristi Waterworth has been a contributing real estate and financial expert at The Motley Fool, covering real estate, investing, and personal finance topics, since 2020. Kristi has been interviewed by various TV media outlets and podcasts for her real estate investing expertise – from residential real estate to digital real estate and everything in between. Kristi’s journalist career spans over 25 years, and she has written about real estate investing, homeownership, and home construction specifically for the last decade. She was also previously a licensed Realtor and general building contractor before the Great Recession and housing market collapse. She holds a bachelor’s degree in American history from Columbia College in Missouri.

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