National home prices showed a modest increase of 0.2% year over year from June 2024 to June 2025, a significant decrease from the 3.2% growth seen the previous year. A notable 36% of the nation's 300 largest housing markets experienced declines in home prices during the same period. While some regions with low inventory continue to see price increases, those with higher inventory levels are facing corrections. Major cities like Austin, Tampa, and Miami are notable for their significant year-over-year declines in home values.
The Zillow Home Value Index indicated a 0.2% rise in national home prices from June 2024 to June 2025, down from 3.2% the previous year.
36% of the nation's 300 largest housing markets showed year-over-year home price declines as of June 2025, reflecting a shift towards a buyer's market.
Active inventory in certain regions remains below pre-pandemic levels, contributing to price increases, while others with excess inventory are experiencing modest corrections.
Major metros such as Austin, Tampa, and Miami are experiencing significant year-over-year home value declines, further indicating market instability.
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