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S&P Cotality Case-Shiller Index Reports Annual Gain in January 2026

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The S&P Cotality Case-Shiller U.S. National Home Price NSA Index posted a 0.9% annual gain for January 2026, down from a 1.1% rise in the previous month.For the eighth consecutive month, inflation outpaced national home price appreciation, with CPI running 1.5 percentage points above the 0.9% annual gain — leaving real home values modestly lower year over year.Geographic divergence persisted, with New York (+4.9%), Chicago (+4.6%), and Cleveland (+3.6%) leading all markets while Tampa extended its decline to -2.5% year over year.

NEW YORK, April 28, 2026 /PRNewswire/ — S&P Dow Jones Indices (S&P DJI) today released the January 2026 results for the S&P Cotality Case-Shiller Indices.

More than 27 years of history are available for the data series and can be accessed in full by going to www.spglobal.com/spdji/en/index-family/indicators/sp-Cotality-case-shiller.

Cotality continues to have transaction delays from the recording office in Wayne County, the most populous county in the Detroit metro area. These delays impacted the January transaction data and, therefore, no valid January 2026 update of the Detroit S&P Cotality Case-Shiller Index will be provided for the March 31, 2026, release date. There was, however, enough data to calculate a valid December 2025 update, which is provided in Tables 2 and 3.

S&P DJI will continue to provide updates to the Detroit index values for the month(s) with missing sale transactions data.

ANALYSIS

“January’s results show home price gains continuing to cool, with the U.S. National Index up 0.9% year over year — down from 1.1% in the prior month,” said Nicholas Godec, CFA, CAIA, CIPM, Head of Fixed Income Tradables & Commodities at S&P Dow Jones Indices. “The 10-City and 20-City Composites followed the same path, easing to 1.7% and 1.2%, respectively, from 2.0% and 1.4% the prior month. Price levels remain elevated, but the rate of appreciation has slowed materially.

“Splitting the year into two halves sharpens the picture,” Godec continued. “The National Index rose 2.2% over the first six months of the period, then fell 1.3% over the most recent six — a swing that explains why annual gains have compressed to under 1% despite prices remaining historically elevated.

“The inflation comparison reinforces the trend,” Godec added. “CPI rose 2.4% over the year ended January 2026, 1.5 percentage points above the National Index’s 0.9% gain. In real terms, home values have declined modestly over the past year.

“Geographic leadership remains narrow,” Godec concluded. “New York leads with a 4.9% annual gain, followed by Chicago at 4.6% and Cleveland at 3.6%, while Tampa fell 2.5%. Monthly price changes were slightly negative before seasonal adjustment and modestly positive after — consistent with a market that is neither recovering nor correcting sharply. With 30-year mortgage rates still near 6%, affordability constraints show no sign of easing. Nominal prices are barely rising; in real terms, they are edging lower.”

YEAR-OVER-YEAR

The S&P Cotality Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 0.9% annual gain for January. The 10-City Composite saw an annual increase of 1.7%, down from a 2.0% increase in the previous month. The 20-City Composite posted a year-over-year increase of 1.2%, down from a 1.4% rise in the previous month.

New York reported the highest annual gain among the 20 cities with a 4.9% increase in January, followed by Chicago and Cleveland with annual increases of 4.6% and 3.6%, respectively. Tampa posted the lowest return in January, falling 2.5%.

MONTH-OVER-MONTH

The pre-seasonally adjusted U.S. National Index and the 20-City Composite Index saw a drop of 0.1% and the 10-City Composite decreased 0.03%.

After seasonal adjustment, the U.S. National, 10-City Composite, and 20-City Composite Indices each reported a monthly increase of 0.2%.

SUPPORTING DATA

The S&P Cotality Case-Shiller U.S. National Home Price NSA Index, which covers all nine U.S. census divisions, recorded a 0.9% annual increase in January 2026. The 10-City and 20-City Composites reported year-over-year increases of 1.7% and 1.2%, respectively.

Table 1 below shows the housing boom/bust peaks and troughs for the three composites along with the current levels and percentage changes from the peaks and troughs.

2022 Peak

2023 Trough

Current

Index

Level

Date

Level

Date

From
Peak (%)

Level

From
Trough (%)

From
Peak (%)

National

308.07

Jun-22

292.70

Jan-23

-5.0 %

326.61

11.6 %

6.0 %

20-City

318.73

Jun-22

297.47

Jan-23

-6.7 %

336.64

13.2 %

5.6 %

10-City

330.38

Jun-22

309.92

Jan-23

-6.2 %

357.44

15.3 %

8.2 %

Table 2 below summarizes the results for January 2026. The S&P Cotality Case-Shiller Indices could be revised for the prior 24 months, based on the receipt of additional source data.

Metropolitan
Area

January 2026
Level

January ’26 / December ’25
Change (%)

December/November
Change (%)

1-Year Change
(%)

Atlanta

245.59

-0.45 %

-0.40 %

-0.13 %

Boston

344.17

-0.11 %

-0.20 %

1.32 %

Charlotte

282.48

0.24 %

0.00 %

1.13 %

Chicago

220.90

-0.16 %

-0.12 %

4.63 %

Cleveland

199.65

-0.21 %

-0.32 %

3.56 %

Dallas

289.47

-0.41 %

-0.09 %

-1.47 %

Denver

308.05

-0.15 %

-0.70 %

-2.05 %

Detroit

-0.43 %

Las Vegas

297.59

-0.06 %

-0.46 %

-0.95 %

Los Angeles

439.50

0.05 %

0.19 %

0.25 %

Miami

438.64

0.43 %

-0.04 %

-0.90 %

Minneapolis

244.85

-0.38 %

-0.68 %

2.49 %

New York City

334.96

-0.03 %

0.15 %

4.93 %

Phoenix

324.71

0.06 %

-0.26 %

-1.59 %

Portland

324.13

-0.24 %

-0.53 %

-1.04 %

San Diego

437.48

-0.31 %

0.47 %

0.51 %

San Francisco

349.49

-0.27 %

-0.56 %

-0.42 %

Seattle

382.78

-0.59 %

-0.31 %

-0.62 %

Tampa

365.96

-0.26 %

-0.01 %

-2.54 %

Washington

330.65

0.08 %

-0.43 %

0.19 %

Composite-10

357.44

-0.03 %

-0.03 %

1.72 %

Composite-20

336.64

-0.12 %

-0.11 %

1.18 %

U.S. National

326.61

-0.11 %

-0.26 %

0.91 %

Sources: S&P Dow Jones Indices and Cotality

 

Data through January 2026

Table 3 below shows a summary of the monthly changes using the seasonally adjusted (SA) and non-seasonally adjusted (NSA) data. Since its launch in early 2006, the S&P Cotality Case-Shiller Indices have published, and the markets have followed and reported on, the non-seasonally adjusted data set used in the headline indices. For analytical purposes, S&P Dow Jones Indices publishes a seasonally adjusted data set covered in the headline indices, as well as for the 17 of 20 markets with tiered price indices and the five condo markets that are tracked.

January ’26 / December ’25 Change (%)

December / November Change (%)

Metropolitan Area

NSA

SA

NSA

SA

Atlanta

-0.45 %

0.00 %

-0.40 %

0.34 %

Boston

-0.11 %

0.31 %

-0.20 %

0.51 %

Charlotte

0.24 %

0.69 %

0.00 %

0.67 %

Chicago

-0.16 %

0.35 %

-0.12 %

0.73 %

Cleveland

-0.21 %

0.47 %

-0.32 %

0.69 %

Dallas

-0.41 %

0.16 %

-0.09 %

0.25 %

Denver

-0.15 %

0.00 %

-0.70 %

-0.20 %

Detroit

-0.43 %

0.54 %

Las Vegas

-0.06 %

0.47 %

-0.46 %

0.25 %

Los Angeles

0.05 %

0.20 %

0.19 %

0.45 %

Miami

0.43 %

0.65 %

-0.04 %

0.25 %

Minneapolis

-0.38 %

0.30 %

-0.68 %

0.39 %

New York City

-0.03 %

0.18 %

0.15 %

0.65 %

Phoenix

0.06 %

0.57 %

-0.26 %

0.56 %

Portland

-0.24 %

0.10 %

-0.53 %

0.20 %

San Diego

-0.31 %

-0.40 %

0.47 %

0.88 %

San Francisco

-0.27 %

-0.04 %

-0.56 %

0.12 %

Seattle

-0.59 %

-0.34 %

-0.31 %

0.35 %

Tampa

-0.26 %

0.28 %

-0.01 %

0.59 %

Washington

0.08 %

0.25 %

-0.43 %

0.20 %

Composite-10

-0.03 %

0.20 %

-0.03 %

0.52 %

Composite-20

-0.12 %

0.16 %

-0.11 %

0.50 %

U.S. National

-0.11 %

0.23 %

-0.26 %

0.38 %

Sources: S&P Dow Jones Indices and Cotality

 

Data through January 2026

ABOUT S&P DOW JONES INDICES

S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.

S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spglobal.com/spdji.

FOR MORE INFORMATION:

Alyssa Augustyn
Americas Communications
(+1) 773 919 4732
alyssa.augustyn@spglobal.com 

S&P Dow Jones Indices’ interactive blog, IndexologyBlog.com, delivers real-time commentary and analysis from industry experts across S&P Global on a wide range of topics impacting residential home prices, homebuilding and mortgage financing in the United States. Readers and viewers can visit the blog at www.indexologyblog.com, where feedback and commentary are welcomed and encouraged.

The S&P Cotality Case-Shiller Indices are published on the last Tuesday of each month at 9:00 am ET. They are constructed to accurately track the price path of typical single-family homes located in each metropolitan area provided. Each index combines matched price pairs for thousands of individual houses from the available universe of arms-length sales data. The S&P Cotality Case-Shiller U.S. National Home Price Index tracks the value of single-family housing within the United States. The index is a composite of single-family home price indices for the nine U.S. Census divisions and is calculated quarterly. The S&P Cotality Case-Shiller 10-City Composite Home Price Index is a value-weighted average of the 10 original metro area indices. The S&P Cotality Case-Shiller 20-City Composite Home Price Index is a value-weighted average of the 20 metro area indices. The indices have a base value of 100 in January 2000; thus, for example, a current index value of 150 translates to a 50% appreciation rate since January 2000 for a typical home located within the subject market.

These indices are generated and published under agreements between S&P Dow Jones Indices and Cotality, Inc.

The S&P Cotality Case-Shiller Indices are produced by Cotality, Inc. In addition to the S&P Cotality Case-Shiller Indices, Cotality also offers home price index sets covering thousands of zip codes, counties, metro areas, and state markets. The indices, published by S&P Dow Jones Indices, represent just a small subset of the broader data available through Cotality.

Case-Shiller® and Cotality® are trademarks of Cotality Case-Shiller, LLC or its affiliates or subsidiaries (“Cotality”) and have been licensed for use by S&P Dow Jones Indices. None of the financial products based on indices produced by Cotality or its predecessors in interest are sponsored, sold, or promoted by Cotality, and neither Cotality nor any of its affiliates, subsidiaries, or predecessors in interest makes any representation regarding the advisability of investing in such products.

View original content:https://www.prnewswire.com/news-releases/sp-cotality-case-shiller-index-reports-annual-gain-in-january-2026-302755832.html

SOURCE S&P Dow Jones Indices

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Chef Robotics Physical AI Models Can Now Automate Baked Goods Packing

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SAN FRANCISCO, April 29, 2026 /PRNewswire/ — Chef Robotics, a leader in physical AI for the food industry, today announced that Chef robots can now automate tray assembly for baked goods packing. The application places baked products, such as burger buns, chocolate chip cookies, biscotti, butter cookies, biscuits, fortune cookies, granola bars, rusks, and shortbreads into trays and packaging containers before sealing.

Watch Chef robots in action.

Baked goods packing has historically been difficult to automate for high-mix production. Each item behaves differently on the production line—a granola bar compresses under the wrong grip, while a biscotti or rusk can crack if placed at the wrong angle. Surface textures range from glazed and smooth to crumbly and irregular, and strict presentation requirements leave little room for error. This variability has made it challenging for automation systems to reliably handle baked goods at production speeds, leaving food manufacturers dependent on manual labor and traditional bakery equipment.

To address this, Chef built its baked goods packing application on its existing piece-picking capability, which uses Chef’s AI-powered computer vision and physical AI models trained across diverse real-world production environments. This allows Chef robots to assess each item’s position, shape, and orientation in real time and determine how to pick the items from the pan and place them quickly and precisely without damaging them.

The baked goods packing application supports four distinct placement capabilities.

First, Chef’s vision system detects the angle at which each item sits in the pan and reorients it after picking, placing it on the tray at the exact angle required, regardless of its original position, enabling retail-ready presentation for SKUs that require precise angular placement.

Second, Chef robots can place multiple baked goods into the same packaging container in a single automated pass, completing full tray assembly without manual intervention.

Third, for packaging containers with multiple small compartments, Chef robots can precisely place items into each designated section, including multiple items in the same compartment, using Chef’s AI vision model to detect compartment positions and orientations in real time.

Fourth, Chef’s vision system identifies the exact center of each tray and places every item at a predefined offset from that center, ensuring a uniform, consistent arrangement across every pack regardless of how trays arrive on the conveyor.

For food manufacturers evaluating bakery systems and baked goods packaging automation, the application offers higher throughput, reduced labor dependency, and consistent presentation across shifts. The capability runs on Chef’s existing robotic hardware and software, allowing manufacturers to deploy it without requiring any changes to their production lines.

Chef’s baked goods packing application is available in the U.S., Canada, Germany, and the UK and is included as part of Chef’s robotics-as-a-service (RaaS) pricing model.

About Chef Robotics
Chef is the first company to have commercialized a scalable AI-driven food robotics solution. With over 104 million servings made in production, Chef leverages ChefOS, an AI platform for food manipulation, to offer a Robotics-as-a-Service solution that helps industry-leading food companies increase production volume and meet demand. Headquartered in San Francisco, CA, Chef aims to empower humans to do what humans do best by accelerating the advent of intelligent machines. Visit https://chefrobotics.ai to learn more.

View original content:https://www.prnewswire.com/news-releases/chef-robotics-physical-ai-models-can-now-automate-baked-goods-packing-302756923.html

SOURCE Chef Robotics

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Chef Robotics Physical AI Models Can Now Automate Baked Goods Packing

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SAN FRANCISCO, April 29, 2026 /PRNewswire/ — Chef Robotics, a leader in physical AI for the food industry, today announced that Chef robots can now automate tray assembly for baked goods packing. The application places baked products, such as burger buns, chocolate chip cookies, biscotti, butter cookies, biscuits, fortune cookies, granola bars, rusks, and shortbreads into trays and packaging containers before sealing.

Watch Chef robots in action.

Baked goods packing has historically been difficult to automate for high-mix production. Each item behaves differently on the production line—a granola bar compresses under the wrong grip, while a biscotti or rusk can crack if placed at the wrong angle. Surface textures range from glazed and smooth to crumbly and irregular, and strict presentation requirements leave little room for error. This variability has made it challenging for automation systems to reliably handle baked goods at production speeds, leaving food manufacturers dependent on manual labor and traditional bakery equipment.

To address this, Chef built its baked goods packing application on its existing piece-picking capability, which uses Chef’s AI-powered computer vision and physical AI models trained across diverse real-world production environments. This allows Chef robots to assess each item’s position, shape, and orientation in real time and determine how to pick the items from the pan and place them quickly and precisely without damaging them.

The baked goods packing application supports four distinct placement capabilities.

First, Chef’s vision system detects the angle at which each item sits in the pan and reorients it after picking, placing it on the tray at the exact angle required, regardless of its original position, enabling retail-ready presentation for SKUs that require precise angular placement.

Second, Chef robots can place multiple baked goods into the same packaging container in a single automated pass, completing full tray assembly without manual intervention.

Third, for packaging containers with multiple small compartments, Chef robots can precisely place items into each designated section, including multiple items in the same compartment, using Chef’s AI vision model to detect compartment positions and orientations in real time.

Fourth, Chef’s vision system identifies the exact center of each tray and places every item at a predefined offset from that center, ensuring a uniform, consistent arrangement across every pack regardless of how trays arrive on the conveyor.

For food manufacturers evaluating bakery systems and baked goods packaging automation, the application offers higher throughput, reduced labor dependency, and consistent presentation across shifts. The capability runs on Chef’s existing robotic hardware and software, allowing manufacturers to deploy it without requiring any changes to their production lines.

Chef’s baked goods packing application is available in the U.S., Canada, Germany, and the UK and is included as part of Chef’s robotics-as-a-service (RaaS) pricing model.

About Chef Robotics
Chef is the first company to have commercialized a scalable AI-driven food robotics solution. With over 104 million servings made in production, Chef leverages ChefOS, an AI platform for food manipulation, to offer a Robotics-as-a-Service solution that helps industry-leading food companies increase production volume and meet demand. Headquartered in San Francisco, CA, Chef aims to empower humans to do what humans do best by accelerating the advent of intelligent machines. Visit https://chefrobotics.ai to learn more.

View original content:https://www.prnewswire.com/news-releases/chef-robotics-physical-ai-models-can-now-automate-baked-goods-packing-302756923.html

SOURCE Chef Robotics

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Air Products to Expand Industrial Gas Supply for Samsung Electronics’ Next-Generation Semiconductor Fab in South Korea

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New investment underscores the company’s long-term commitment to Korea and its leading role in the global semiconductor industry 

LEHIGH VALLEY, Pa., April 29, 2026 /PRNewswire/ — Air Products (NYSE:APD), a world-leading industrial gases company and serving Samsung globally, today announced it has been selected by Samsung to supply industrial gases for its new advanced semiconductor fab in Pyeongtaek, Gyeonggi Province, South Korea.

Under the agreement, Air Products will build, own and operate multiple state-of-the-art production facilities and a bulk specialty gas supply system to supply nitrogen, oxygen, argon, and hydrogen for Samsung’s new semiconductor fab. The new facilities are expected to come onstream in multiple phases from 2028 through 2030.

Air Products has a long track record of executing multiple phase expansions in Pyeongtaek to support Samsung’s growing manufacturing needs. This latest project represents Air Products’ largest investment to date in the semiconductor industry and will establish Pyeongtaek as the company’s single largest operations site globally supporting the electronics industry. 

“Air Products is honored to be selected once again by Samsung and to have their continued confidence as a trusted partner supporting their strategic growth plans,” said SR Kim, President, Air Products Korea. “This significant investment reinforces Air Products’ role as a leading global supplier to the semiconductor industry and underscores our long-standing commitment to supporting our strategic customers with safety, reliability, efficiency and excellent service.”

Air Products has served the global electronics industry for more than 40 years, supplying industrial gases safely and reliably to many of the world’s leading technology companies. The company has operated in Korea for more than 50 years and has established a strong position in electronics and manufacturing sectors.

About Air Products

Air Products (NYSE: APD) is a world-leading industrial gases company in operation for over 85 years focused on serving energy, environmental, and emerging markets and generating a cleaner future. The Company supplies essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemicals, metals, electronics, manufacturing, medical and food. As the leading global supplier of hydrogen, Air Products also develops, engineers, builds, owns and operates some of the world’s largest clean hydrogen projects, supporting the transition to low- and zero-carbon energy in the industrial and heavy-duty transportation sectors. Through its sale of equipment businesses, the Company also provides turbomachinery, membrane systems and cryogenic containers globally.

Air Products had fiscal 2025 sales of $12 billion from operations in approximately 50 countries. For more information, visit airproducts.com or follow us on LinkedInXFacebook or Instagram.

This release contains “forward-looking statements” within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s expectations and assumptions as of the date of this release and are not guarantees of future performance. While forward-looking statements are made in good faith and based on assumptions, expectations and projections that management believes are reasonable based on currently available information, actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors, including the risk factors described in our Annual Report on Form 10-K for the fiscal year ended September 30, 2025 and other factors disclosed in our filings with the Securities and Exchange Commission. Except as required by law, we disclaim any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect any change in the assumptions, beliefs or expectations or any change in events, conditions or circumstances upon which any such forward-looking statements are based.

View original content to download multimedia:https://www.prnewswire.com/news-releases/air-products-to-expand-industrial-gas-supply-for-samsung-electronics-next-generation-semiconductor-fab-in-south-korea-302757497.html

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