U.S. home prices fell -0.1% MoM in July 2025, the third straight monthly decline, while YoY growth slowed to 2.9%, the lowest rate since the Redfin series began in 2012.

• Prices declined in 39 of the top 50 metros, the highest share of metros posting MoM declines in the dataset’s history.

• The sharpest MoM drops were in West Palm Beach (-2.6%), San Diego (-2.2%), and Austin (-1.9%).

• New York (+11.8% YoY), Newark (+9.3%), and Nassau County (+8.3%) led annual gains, while Austin (-4.5%), Tampa (-4.2%), and Dallas (-2.6%) saw the largest YoY declines.

• Redfin attributed the broader slowdown to rising inventory and reduced buyer demand, as high mortgage rates and economic uncertainty weigh on activity.