U.S. Home Prices Continue to Rise Year-Over-Year

by Gemma Peterson

WASHINGTON, D.C. — According to the latest data from the Federal Housing Finance Agency’s (FHFA) House Price Index (HPI), U.S. home prices rose 4.0% from Q1 2024 to Q1 2025. Compared to Q4 2024, prices were up 0.7% in Q1 2025.

While March 2025 saw a slight monthly dip of 0.1% from February (seasonally adjusted), the overall trend remains positive.


📊 Key Highlights:

  • The U.S. housing market has posted positive annual appreciation every quarter since early 2012.

  • 49 states and D.C. saw price increases year-over-year.

  • Top 5 states for appreciation (Q1 2024 to Q1 2025):

    1. Rhode Island: +11.4%

    2. West Virginia: +9.3%

    3. Connecticut: +9.0%

    4. Ohio: +7.6%

    5. Wyoming: +7.4%

  • Hawaii was the only state to see a decline: –2.2%

  • 89 of the 100 largest metro areas saw rising prices.

    • Biggest gainer: Newark, NJ (+11.6%)

    • Biggest decline: Lakeland-Winter Haven, FL (–9.0%)

  • All 9 U.S. census divisions recorded annual gains.

    • Strongest: Middle Atlantic (+6.8%)

    • Weakest: Pacific (+1.8%)


🧠 About the FHFA HPI:

The FHFA House Price Index tracks single-family home values across all 50 states and 400+ metro areas. It’s built on a transparent, repeat-sales model and incorporates millions of transactions dating back to the 1970s. This makes it one of the most trusted tools for tracking home price trends across the U.S.

Source: Federal Housing Finance Agency

 

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