Home Price Growth Eases In Second Quarter – NMP Skip to main content

Home Price Growth Eases In Second Quarter

Jul 21, 2025
Fannie Mae HPI-Home Price Growth Eases In Q2 2025

Continues ‘general moderation’ since beginning of last year, Fannie Mae says

Single-family home prices increased by 4.1% from Q2 2024 to Q2 2025, according to the latest data from the Fannie Mae Home Price Index (HPI). That’s down from 18% the previous quarter's year-over-year growth pace of 5.0%.

The HPI measures the average, quarterly price change for all single-family properties in the United States, excluding condos. 

Q2 2025 Fannie Mae HPI

 

On a quarterly basis, home prices rose 0.3% on a seasonally adjusted basis and 2.0% on a non-seasonally adjusted basis in Q2 2025.

“This continues the general moderation in home price growth observed since the start of 2024,” the GSE noted in a release.

Fannie Mae notes it produces the HPI by aggregating county-level data to create both seasonally adjusted and non-seasonally adjusted national indexes that are representative of the whole country and designed to serve as indicators of general single-family home price trends.

About the author
Published
Jul 21, 2025
Even at 6%, Mortgage Rates May Not Be Enough to Unlock Home Sales

New Realtor.com analysis finds that moving would still increase the typical homeowner's mortgage payment by nearly 62%

Nov 11, 2026
Younger Borrowers Want More Personal Guidance Despite Digital Gains

Nearly half say their lender representative should have been more involved, while fewer borrowers overall receive same-day answers, JD Power finds

Nov 10, 2026
Mortgage Locks Plunge 19% Despite Rate Relief, ARM Share Hits New High

October's sharp decline in lending activity points to a tougher purchase market, even as borrowers turn to ARMs, FHA, and Non-QM financing

Nov 10, 2026
Condo Sellers Outnumber Buyers 2 to 1 as Financing Pressures Mount

Redfin reports the widest condo market imbalance in 13 years, giving buyers more negotiating power

Nov 10, 2026
Cash-Out Borrowers Leave Servicers Behind as Home Equity Hits Q3 Record

ICE reports $17.5 trillion in homeowner equity, while cash-out refinances account for 75% of servicers' refinance-related loan losses

Nov 09, 2026
Mortgage Payments Rise 13% As Home Sales Slide: Zillow

Zillow reports the steepest annual drop in newly pending home listings since 2023, adding pressure to an already weakening purchase market

Nov 09, 2026