U.S. house prices rose +0.1% MoM (vs +0.3% MoM expected) and +1.8% YoY in December 2025, extending a long run of positive appreciation.

• The FHFA purchase only HPI increased +0.1% MoM in Dec (from +0.7% MoM in Nov), showing a slower monthly pace after a stronger prior gain.

• Quarterly prices rose +0.8% QoQ in Q4 2025 and +1.8% YoY vs Q4 2024, maintaining annual growth that has persisted each quarter since 2012.

• Price gains occurred in 41 states YoY, led by North Dakota +6.4%, Delaware +6.3%, Illinois +6.1%, Wisconsin +5.7%, and Michigan +5.5%, while nine states and DC declined, with Florida -2.7% the largest drop.

• Across metros, 66 of the 100 largest areas posted increases YoY; Allentown Bethlehem Easton +8.9% had the biggest rise while Cape Coral Fort Myers -9.1% had the largest decline, showing wide geographic dispersion.

• Regionally, the East North Central division recorded the strongest YoY gain at +5.0%, whereas the Mountain division declined -0.2% YoY, indicating uneven regional performance.

• From Nov to Dec, divisions ranged from -1.0% MoM in West South Central to +1.1% MoM in Middle Atlantic, highlighting mixed short-term momentum across regions.

• Over the past year, division-level changes ranged from -0.6% YoY in Mountain and -0.4% YoY in Pacific to +5.2% YoY in East North Central and +4.8% YoY in Middle Atlantic, reinforcing variation in annual appreciation trends.

U.S. house prices rose +0.6% MoM (vs +0.3% MoM expected) and +1.9% YoY in November 2025, showing modest monthly gains with soft annual growth.

• The national FHFA purchase-only HPI increased +0.6% MoM from Oct–Nov 2025, up from +0.4% MoM in Sep–Oct (unrevised), indicating slightly firmer monthly price momentum.

• Regional monthly gains ranged from +0.0% in the Middle Atlantic to +1.1% in the East South Central, highlighting continued dispersion in short-term price movements.

• The West South Central division posted a +1.0% MoM increase, while the Pacific and East North Central divisions both rose +0.5% MoM, reflecting broader participation in monthly growth.

• Over the past 12 months, national prices increased +1.9% YoY in November 2025, up from +1.7 YoY in October 2025.

• Year-over-year changes varied widely by region, from -0.4% YoY in the Pacific and -0.1% YoY in the Mountain to +5.1% YoY in the East North Central and +4.3% YoY in the Middle Atlantic.

• Several regions posted moderate annual gains, including +3.7% YoY in New England and +3.0% YoY in the East South Central, while the South Atlantic was flat at 0.0% YoY.

U.S. house prices rose +0.4% MoM and +1.7% YoY in October 2025, reflecting a firmer monthly rebound with steady annual growth.

• The FHFA House Price Index increased +0.4% MoM in October (vs +0.1% expected), while the annual rate held at +1.7% YoY, indicating unchanged year-over-year appreciation despite stronger monthly momentum.

• September’s monthly change was revised down from 0.0% to -0.1% MoM, showing slightly weaker price performance heading into October.

• Monthly price changes across the nine census divisions ranged from -0.4% in the East South Central division to +1.0% in the West South Central division, highlighting notable regional dispersion.

• On a 12-month basis, census-division price changes ranged from -0.7% in the West South Central division to +5.3% in the Middle Atlantic division, indicating uneven annual growth across regions.

• National house prices were +1.7% YoY from October 2024 to October 2025, maintaining the same annual pace as the prior month despite volatility in monthly readings.

U.S. house prices were unchanged MoM in September 2025 (0.0% MoM) while rising 1.7% YoY (down from 2.4% YoY in August), marking continued but modest appreciation consistent with a broadly cooling market.

• Q3 2025 house prices increased 0.2% QoQ and 2.2% YoY, showing a slight gain compared with Q2 as national price growth remained positive but subdued.

• Over the past year, 44 states and D.C. recorded rising prices, with Illinois (+6.9%), New York (+6.8%), and North Dakota (+6.3%) leading gains, indicating regional pockets of firmer demand.

• Six states saw annual declines, led by Florida (-2.3%), highlighting weakness in select markets that experienced sharper pandemic-era run-ups.

• Among the 100 largest metros, 76 posted annual price increases; Allentown-Bethlehem-Easton, PA-NJ led at +9.7%, while Cape Coral-Fort Myers, FL saw the steepest drop at -10.8%.

• Census division performance was mixed: the Middle Atlantic posted the strongest YoY gain at +5.7%, while the Pacific division recorded a small -0.1% decline.

U.S. house prices rose 0.4% MoM in August 2025, reflecting a modest monthly gain, while YoY growth held at 2.3%, continuing a period of slower but steady appreciation.

• The prior month’s estimate was revised, with July’s previously reported -0.1% MoM decline updated to 0.0%, confirming flat pricing rather than a drop.

• Regional monthly changes ranged widely, from -0.8% in the Pacific to +1.2% in the Middle Atlantic, showing continued divergence in local market conditions.

• On a YoY basis, the Pacific posted the weakest reading at -0.6%, while the Middle Atlantic led all divisions at +6.3%, indicating substantial strength in northeastern markets.

• Other regions logged moderate annual gains, including East North Central (+4.7%), New England (+4.7%), and West North Central (+3.2%).

• Southern divisions showed softer but positive YoY increases, with South Atlantic at +1.3% and West South Central at +0.7%, consistent with the broader cooling in price momentum.

The FHFA House Price Index (HPI) declined -0.1% MoM (vs +0.1% MoM expected) in July 2025, the fourth consecutive monthly decline, and the annual rate slowed significantly from 2.7% YoY in June to 2.3% YoY in July.

• The previously reported -0.2% MoM decline in June was unrevised, reinforcing the pattern of back-to-back monthly drops.
• Regional monthly changes varied sharply, from -1.2% in the Middle Atlantic to +0.3% in the East North Central division.
• On a YoY basis, all nine census divisions recorded gains, with the Middle Atlantic posting the strongest at +5.1% and the Pacific the weakest at +0.2%.
• Other notable annual increases included New England (+3.9%), East North Central (+4.1%), and West North Central (+3.8%), suggesting more resilience in northern markets.
• The Mountain division recorded a modest +1.0% YoY gain, while the South Atlantic and West South Central both remained below +1.0%.