Results

NAHB - National Association of Home Builders

06/13/2025 | News release | Distributed by Public on 06/13/2025 08:32

Which Markets Have Seen the Greatest House Price Appreciation Since the Pandemic

House price growth slowed in the first quarter of 2025, partly due to a decline in demand and an increase in supply. Persistently high mortgage rates and increased inventory combined to ease upward pressure on home prices. These factors signaled a cooling market, following rapid gains seen in previous years.

According to the quarterly House Price Index (HPI) released by the Federal Housing Finance Agency (FHFA), U.S. home prices rose 4.7% in the first quarter of 2025 nationally, compared to the first quarter of 2024. This year-over-year rate was lower than the previous quarter's rate of 5.5%. The FHFA's all-transactions HPI tracks average price changes based on repeat sales and refinancings of the same single-family properties.

Since the onset of the COVID-19 pandemic, home prices have surged nationally. Between the first quarter of 2020 and the first quarter of 2025, prices rose by 54.9% nationwide. More than half of metro areas outpaced this national price growth rate.

The table below highlights the top 10 and bottom 10 markets for house price appreciation during this five-year period:

NAHB - National Association of Home Builders published this content on June 13, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on June 13, 2025 at 14:32 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at support@pubt.io