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.

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.

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Jul 21, 2025

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