Home Prices

The 2025 housing market ended with the weakest annual appreciation since the market bottomed out in 2011 following the Great Recession. Buyers and sellers remain at an impasse, as potential homebuyers are unable or unwilling to meet the current listing prices.  Annual growth remained steady at 1.3% in December (Figure 1), according to the S&P Cotality Case‑Shiller Index.

The housing market remained in hibernation in November. With buyers unable to meet sellers’ expectations, most participants are opting to wait until spring. Annual growth remained flat at 1.4% in November, according to the S&P Cotality Case-Shiller Index.

The housing market stayed cool in October, with price growth flattening out as sellers held listings off the market in hopes of securing higher prices in the spring. Annual growth held steady at 1.4% in October, according to the S&P Cotality Case-Shiller Index.

The arrival of fall brought pumpkin-spice lattes, brisk weather, and cooler home prices. Annual growth slowed according to the S&P

The U.S. housing market is a mixed picture. Inventory this month rose to the highest level since 2019. Prices are softening. New listings are lagging. And regional market differences are stark.

August marks the changing of the seasons, and as summer began to fade into fall, home price growth continued to cool.

Summer started sluggish for the housing market. Persistently high mortgage rates, historically low inventory, and broader macroeconomic uncertainty weighed on both buyers and sellers. Sellers remain hesitant to list due to elevated interest rates while buyers are cautious amid concerns over job security.

Veros Real Estate Solutions (Veros®) released its Q2 2025 VeroFORECAST. The forecast projects an average nationwide home price appreciation rate of 2.2% over the next 12 months.  

Veros Real Estate Solutions (Veros®) released its Q1 2025 VeroFORECASTSM. The forecast projects an average nationwide home price appreciation rate of 2.4% over the next 12 months. This is a modest decline from the previous quarter’s forecast of 2.7%.

ATTOM released its Q1 2025 Single-Family Rental Market report, which ranks the best U.S. markets for buying single-family rental properties in 2025. The report analyzed single-family rental returns in 361 U.S. counties with sufficient rental and home-price data. The analysis for this report incorporated median rents and median home prices collected from ATTOM’s nationwide property database, as well as publicly recorded sales deed data licensed by ATTOM. Here’s what it found: