US Home Price Growth Moderates in Q2

Posted on July 18, 2025

According to the latest Fannie Mae Home Price Index (HPI), released on Wednesday, single-family home prices increased 4.1% year-over-year in Q2, down from the previous quarter’s annual growth of 5.0%.

This continues the general moderation in home-price growth observed since the start of 2024. On a quarterly basis, Q2 home prices rose 0.3% and 2.0% on a seasonally adjusted and non-seasonally adjusted basis, respectively.

The HPI is a national, repeat-transaction home price index measuring the average, quarterly price change for all single-family properties in the US, excluding condos.

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