FHFA House Price Index: August 2025

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