Sep 30, 2025
Home Prices Show Downward Trend
Nationally, the Freddie Mac Home Price Index (FMHPI) (seasonally adjusted) has been declining since January. The index value, which was 300 in January, fell by 1% to 297.7 in July. The FMHPI still rose 2% year-over-year in July to 297.7, but this was the lowest index value recorded in 2025. At the state level, Hawaii posted the highest index value at 400, while Michigan had the lowest at 205 in July. In North Carolina, the FMHPI was 281 in July, compared to 290 in February 2024, and prices have been falling since February. The index has returned to the level last seen in May 2024. For the Charlotte-Concord-Gastonia CBSA, the FMHPI reached 311 in July, showing less than a 1% year-over-year increase, but prices in this region have been on a modest downward trend since February 2025.
The S&P CoreLogic Case-Shiller Home Price Indices in July show a 2% year-over-year increase at the national level, aligning with FMHPI trends. However, prices have fallen by 1% since February. Among major cities, Los Angeles recorded the highest index value at 447, while New York led in annual price growth with a 7% increase. In Charlotte, annual price growth stood at 3%, and the upward trend has continued since January 2024, contradicting Freddie Mac data.
U.S. Census data also signals a downward trend in prices. According to the Census Bureau’s New Residential Sales data, the average sales price nationwide in July was $487,305, while the median sales price was $403,804. Average prices declined 3.6% compared to the previous month and 4.2% year-over-year. In January 2024, the median sales price was $429,005, and the average sales price was $507,605.
Description: FMHPI (Federal Housing Finance Agency House Price Index): Tracks changes in U.S. home prices, offering insights into long-term housing market trends. The S&P CoreLogic Case-Shiller Home Price Indices: Measures home price changes in major metropolitan areas, providing a benchmark for property value trends. New Residential Sales Prices: Reports the average and median sales prices of new homes sold, reflecting recent activity in the housing market.
