House Price Appreciation by State and Metro Area
In early 2025, the pace of home price increases began to slow down, growing by 4.7% compared to the same time last year—a drop from the previous quarter’s 5.5% rise. This shift was driven by fewer buyers and more homes on the market, as high mortgage rates made purchasing less appealing. The FHFA’s House Price Index, which tracks changes based on repeated sales and refinancing, shows this cooling trend across the country and in local markets.
