US Real Housing Price Index — Daily CSV Download (Inflation-Adjusted Housing Prices)
The real (inflation-adjusted) Case-Shiller Home Price Index strips out CPI to reveal whether housing is genuinely appreciating or merely keeping pace with general prices. The 2006 peak, the 2012 trough, and the post-2020 surge are all more clearly defined in real terms. Real prices are the correct measure for assessing housing affordability, wealth effects, and the credit cycle.
Dataset: US Real Housing Price Index (1975–2026) · Updated —
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Source: FRED series CSUSHPINSA · S&P CoreLogic Case-Shiller (CSUSHPINSA) & BLS (CPIAUCSL) via FRED
Macro Takeaway
This indicator is a key component of the macro-financial monitoring framework. Its current level relative to its historical distribution — captured in the percentile and z-score above — provides immediate context for whether conditions are historically normal, stretched, or compressed.
Cross-referencing with the 30-year mortgage rate and the real mortgage rate helps situate this indicator within the broader macro regime.
Dataset Overview
| Indicator | US Real Housing Price Index (1975–2026) |
|---|---|
| Geography | United States |
| Frequency | Monthly |
| Period | 1975–2026 |
| Variables | date, case_shiller_nominal, cpi_index, real_housing_index |
| Format | CSV, Excel (XLSX) |
| Sources | S&P CoreLogic Case-Shiller (CSUSHPINSA) & BLS (CPIAUCSL) via FRED |
| Last updated | — |
Dataset Variables
The CSV and Excel files contain the following columns.
| Column | Type | Description |
|---|---|---|
date | Date (YYYY-MM-DD) | Observation date |
case_shiller_nominal | Float | Case-Shiller National Home Price Index (nominal) |
cpi_index | Float | CPI-U index level |
real_housing_index | Float | Real housing price index (CPI-adjusted) |
Column names match the CSV headers exactly.
Download the Complete Dataset
The full dataset is available in CSV and Excel formats.
FRED Direct CSV Access
The underlying data is available from FRED under series code CSUSHPINSA:
https://fred.stlouisfed.org/graph/fredgraph.csv?id=CSUSHPINSA
Direct CSV Access — Eco3min Structured Dataset
https://eco3min.fr/dataset/real-housing-price.csv
This URL returns the complete dataset in CSV format. It can be used directly in pandas, R, curl, or any data tool.
Using the Dataset in Python
import pandas as pd url = "https://eco3min.fr/dataset/real-housing-price.csv" df = pd.read_csv(url, parse_dates=["date"]) print(df.head()) print(df["case_shiller_nominal"].describe())
Using the Dataset in R
library(readr) url <- "https://eco3min.fr/dataset/real-housing-price.csv" df <- read_csv(url) head(df) summary(df$case_shiller_nominal)
Both examples load the dataset directly from the URL — no download or API key required.
Methodology
S&P CoreLogic Case-Shiller National Home Price Index (FRED: CSUSHPINSA) deflated by CPI-U (FRED: CPIAUCSL). Both series rebased to a common reference period for comparability.
This dataset is updated monthly (2-month lag) via automated pull from the FRED API.
Historical Regimes
Historical regime analysis for this dataset will be added in a future update. The key stats block above provides immediate context for the current reading relative to the full historical distribution.
Related Macroeconomic Datasets
Real housing prices are the acid test of the credit cycle. Negative real mortgage rates + loose lending standards → real price appreciation. Positive real rates + tightening → real price stagnation or decline. The 2020–2023 cycle illustrated both phases in rapid succession.
- US Real Mortgage Rate — The inflation-adjusted cost of financing housing
- 30-Year Mortgage Rate — Nominal borrowing cost for homebuyers
- Mortgage Spread — The credit premium in mortgage pricing
- US Household Debt-to-GDP — The leverage behind housing purchases
- US CPI Inflation History — The deflator used to compute real prices
Related Research
Housing sits at the intersection of the credit cycle and real rates. The real rate regime determines whether housing is in a structural appreciation or correction phase.
Macroeconomic Dataset Hub
This dataset is part of the Eco3min macro-financial data repository.
Explore the Eco3min Dataset Hub
Sources
- S&P CoreLogic Case-Shiller (CSUSHPINSA) & BLS (CPIAUCSL) via FRED