{"id":81466,"date":"2025-07-22T05:00:27","date_gmt":"2025-07-22T12:00:27","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=81466"},"modified":"2025-07-21T14:27:54","modified_gmt":"2025-07-21T21:27:54","slug":"home-price-index-june-2025","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/home-price-index-june-2025\/","title":{"rendered":"U.S. Home Prices Edge Down 0.1% in June, With Declines in Most Major Metros, Led by Washington, Austin and San Diego"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i><span style=\"font-weight: 400;\">U.S. home prices were down slightly in June for the third consecutive month. Prices rose 3.4% year over year, the slowest rate since June 2023.<\/span><\/i><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i><span style=\"font-weight: 400;\">30 of the 50 most populous U.S. metros recorded a drop in home prices month over month.\u00a0<\/span><\/i><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i><span style=\"font-weight: 400;\">Prices fell most in Washington, D.C. (-1.8%), where home prices have been falling by at least 1.5% for three straight months amid federal government job cuts.\u00a0<\/span><\/i><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">U.S. home prices ticked down 0.1% in June from a month earlier\u2014the third consecutive month that prices were slightly down on a seasonally adjusted basis. On a year-over-year basis, home prices rose 3.4% , the lowest rate since June 2023.<\/span><\/p>\n<div id=\"viz1753132858562\" class=\"tableauPlaceholder\" style=\"position: relative;\"><noscript><a href='https:&#47;&#47;www.redfin.com&#47;'><img alt=' ' src='https:&#47;&#47;public.tableau.com&#47;static&#47;images&#47;S3&#47;S386MS6N7&#47;1_rss.png' style='border: none' \/><\/a><\/noscript><object class=\"tableauViz\" style=\"display: none;\" width=\"300\" height=\"150\"><param name=\"host_url\" value=\"https%3A%2F%2Fpublic.tableau.com%2F\" \/><param name=\"embed_code_version\" value=\"3\" \/><param name=\"path\" value=\"shared\/S386MS6N7\" \/><param name=\"toolbar\" value=\"yes\" \/><param name=\"static_image\" value=\"https:\/\/public.tableau.com\/static\/images\/S3\/S386MS6N7\/1.png\" \/><param name=\"animate_transition\" value=\"yes\" \/><param name=\"display_static_image\" value=\"yes\" \/><param name=\"display_spinner\" value=\"yes\" \/><param name=\"display_overlay\" value=\"yes\" \/><param name=\"display_count\" value=\"yes\" \/><param name=\"tabs\" value=\"yes\" \/><param name=\"language\" value=\"en-US\" \/><\/object><\/div>\n<p><script type='text\/javascript'>                    var divElement = document.getElementById('viz1753132858562');                    var vizElement = divElement.getElementsByTagName('object')[0];                    if ( divElement.offsetWidth > 800 ) { vizElement.style.width='1000px';vizElement.style.height='850px';} else if ( divElement.offsetWidth > 500 ) { vizElement.style.width='1000px';vizElement.style.height='850px';} else { vizElement.style.width='100%';vizElement.style.height='1500px';}                     var scriptElement = document.createElement('script');                    scriptElement.src = 'https:\/\/public.tableau.com\/javascripts\/api\/viz_v1.js';                    vizElement.parentNode.insertBefore(scriptElement, vizElement);                <\/script><\/p>\n<p><span style=\"font-weight: 400;\">This is according to the Redfin Home Price Index (RHPI), which uses the repeat-sales pricing <\/span><a href=\"https:\/\/www.investopedia.com\/terms\/r\/repeatsales-method.asp#:~:text=The%20repeat%2Dsales%20method%20assesses,in%20homes%20with%20varying%20characteristics.\"><span style=\"font-weight: 400;\">method<\/span><\/a><span style=\"font-weight: 400;\"> to calculate seasonally adjusted changes in prices of single-family homes. The RHPI measures sale prices of homes that sold during a given period, and how those prices have changed since the last time those same homes sold. It\u2019s similar to the S&amp;P CoreLogic Case-Shiller Home Price Indices, but is a month ahead.\u00a0 June data covers the three months ending June 30, 2025. Read the full RHPI methodology<\/span> <a href=\"https:\/\/www.redfin.com\/news\/redfin-home-price-index\"><span style=\"font-weight: 400;\">here<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For much of the past two years, prices ticked up slowly nationwide because there were just<\/span> <span style=\"font-weight: 400;\">enough buyers to create competition for the relatively low number of homes on the market.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This year, however, home price growth has stalled as a surge in housing supply met weak demand, with sellers greatly <\/span><a href=\"https:\/\/www.redfin.com\/news\/sellers-vs-buyers-price-impact\/\"><span style=\"font-weight: 400;\">outnumbering buyers<\/span><\/a><span style=\"font-weight: 400;\">, who have been deterred by elevated mortgage rates and steep prices.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cHome prices are slipping a little more each month as sales activity remains sluggish. June was the second month in a row where more than half of the 50 most populous U.S. metros posted a decline in prices,\u201d said Redfin Senior Economist <\/span><a href=\"https:\/\/www.redfin.com\/news\/author\/sheharyarbokhari\/\"><span style=\"font-weight: 400;\">Sheharyar Bokhari<\/span><\/a><span style=\"font-weight: 400;\">. \u201cEven with more homes for sale, high mortgage rates are keeping many buyers\u2014and <\/span><a href=\"https:\/\/www.redfin.com\/news\/home-listings-fall-june-2025\/\"><span style=\"font-weight: 400;\">more recently sellers<\/span><\/a><span style=\"font-weight: 400;\">\u2014on the sidelines. We expect prices to <\/span><a href=\"https:\/\/www.redfin.com\/news\/home-price-forecast-decline-2025\/\"><span style=\"font-weight: 400;\">fall about 1%<\/span><\/a><span style=\"font-weight: 400;\"> by the end of the year as low demand continues to weigh on the market.\u201d<\/span><\/p>\n<h3><strong>Metro-Level Summary: Redfin Home Price Index, June 2025<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">In Washington, D.C., home prices fell 1.8% in June, the third month in a row that prices posted a month-over-month decline of at least 1.5% on a seasonally adjusted basis. It was the metro area\u2019s second-biggest decline posted since the RHPI began in 2012, trailing only the 1.9% drop one month earlier in May.<\/span><\/p>\n<p><iframe id=\"datawrapper-chart-m8Cbu\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Washington D.C. Home Prices Fall For Third Consecutive Month\" src=\"https:\/\/datawrapper.dwcdn.net\/m8Cbu\/6\/\" height=\"423\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Interactive line chart\" data-external=\"1\"><\/iframe><script type=\"text\/javascript\">!function(){\"use strict\";window.addEventListener(\"message\",function(a){if(void 0!==a.data[\"datawrapper-height\"]){var e=document.querySelectorAll(\"iframe\");for(var t in a.data[\"datawrapper-height\"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data[\"datawrapper-height\"][t]+\"px\";r.style.height=d}}})}();\n<\/script><\/p>\n<p><span style=\"font-weight: 400;\">Home prices in the nation\u2019s capital still rose 2.9% year over year\u2014but that was a substantial drop from the 10.9% annual growth rate being observed as recently as March. That was the biggest change in annual growth of any of the top 50 most populous metros since March.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The housing market in Washington has been<\/span><a href=\"https:\/\/www.redfin.com\/news\/washington-dc-housing-inventory-government-layoffs\/\"><span style=\"font-weight: 400;\"> shaken<\/span><\/a><span style=\"font-weight: 400;\"> by a series of widespread federal government job cuts: <\/span><a href=\"https:\/\/www.cnn.com\/politics\/tracking-federal-workforce-firings-dg\/index.html\"><span style=\"font-weight: 400;\">at least 50,000<\/span><\/a><span style=\"font-weight: 400;\"> federal workers have been laid off or targeted for layoffs. Funding cuts for other government programs, like foreign aid programs, has also had an impact on non-government workers in the capital.<\/span><\/p>\n<p><a href=\"https:\/\/www.redfin.com\/real-estate-agents\/marshall-park\"><span style=\"font-weight: 400;\">Marshall Park<\/span><\/a><span style=\"font-weight: 400;\">, Redfin\u2019s senior market manager in the Washington, D.C. metro area, said the market has slowed\u2014especially in the condo market\u2014with homes taking longer to sell as inventory rises.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cWe\u2019ve moved from a bidding war environment to one that demands strategic pricing, thoughtful staging, and the right updates to make a home truly appealing,\u201d he said.\u00a0 \u201cFederal job cuts are certainly a contributor\u2014some sellers are listing due to buyouts or early retirements, which is adding to inventory. But it&#8217;s not just layoffs. We\u2019re also seeing signs of price sensitivity as higher interest rates force buyers to reevaluate what\u2019s affordable.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Thirty of the 50 metros recorded a fall in home prices month over month in June.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Behind Washington, the next biggest decline was in Austin, TX (-1.5%), followed by San Diego (-1.4%).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Prices increased most from May in Montgomery County, PA (0.6%), Providence, RI (0.5%) and New York (0.5%).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On a year-over-year basis, prices in New York (11.7%) rose the most, followed by Philadelphia (11.2%) and Detroit (9.4%).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At the other end of the spectrum, Tampa, FL posted a 4.5% decline in prices from a year ago\u2014the biggest drop of any major metro. Next came Austin, TX (-3.5%) and Dallas (-2%).<\/span><\/p>\n<div id=\"viz1753132972908\" class=\"tableauPlaceholder\" style=\"position: relative;\"><noscript><a href='https:&#47;&#47;www.redfin.com&#47;'><img alt=' ' src='https:&#47;&#47;public.tableau.com&#47;static&#47;images&#47;2F&#47;2FNNKKZPG&#47;1_rss.png' style='border: none' \/><\/a><\/noscript><object class=\"tableauViz\" style=\"display: none;\" width=\"300\" height=\"150\"><param name=\"host_url\" value=\"https%3A%2F%2Fpublic.tableau.com%2F\" \/><param name=\"embed_code_version\" value=\"3\" \/><param name=\"path\" value=\"shared\/2FNNKKZPG\" \/><param name=\"toolbar\" value=\"yes\" \/><param name=\"static_image\" value=\"https:\/\/public.tableau.com\/static\/images\/2F\/2FNNKKZPG\/1.png\" \/><param name=\"animate_transition\" value=\"yes\" \/><param name=\"display_static_image\" value=\"yes\" \/><param name=\"display_spinner\" value=\"yes\" \/><param name=\"display_overlay\" value=\"yes\" \/><param name=\"display_count\" value=\"yes\" \/><param name=\"tabs\" value=\"yes\" \/><param name=\"language\" value=\"en-US\" \/><\/object><\/div>\n<p><script type='text\/javascript'>                    var divElement = document.getElementById('viz1753132972908');                    var vizElement = divElement.getElementsByTagName('object')[0];                    if ( divElement.offsetWidth > 800 ) { vizElement.style.width='1000px';vizElement.style.height='850px';} else if ( divElement.offsetWidth > 500 ) { vizElement.style.width='1000px';vizElement.style.height='850px';} else { vizElement.style.width='100%';vizElement.style.height='1500px';}                     var scriptElement = document.createElement('script');                    scriptElement.src = 'https:\/\/public.tableau.com\/javascripts\/api\/viz_v1.js';                    vizElement.parentNode.insertBefore(scriptElement, vizElement);                <\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. home prices were down slightly in June for the third consecutive month. Prices rose 3.4% year over year, the slowest rate since June 2023. 30 of the 50 most populous U.S. metros recorded a drop in home prices month over month.\u00a0 Prices fell most in Washington, D.C. (-1.8%), where home prices have been falling [&hellip;]<\/p>\n","protected":false},"author":13568,"featured_media":65104,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[8],"tags":[20,623,659,670],"dashboard":[],"coauthors":[682],"class_list":["post-81466","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-housing-market-news","tag-housing-affordability","tag-national","tag-redfin-home-price-index","tag-rhpi"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>U.S. Home Prices Edge Down 0.1% in June, Falling in Most Major Metros<\/title>\n<meta name=\"description\" content=\"U.S. home prices were down slightly in June for the third consecutive month. Prices rose 3.4% year over year, the slowest rate since June 2023. Thirty of the 50 most populous U.S. metros recorded a drop in home prices month over month. Prices fell most in Washington, D.C. (-1.8%), where home prices have been falling by at least 1.5% for three straight months amid federal government job cuts.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.redfin.com\/news\/home-price-index-june-2025\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"U.S. Home Prices Edge Down 0.1% in June, With Declines in Most Major Metros, Led by Washington, Austin and San Diego\" \/>\n<meta property=\"og:description\" content=\"U.S. home prices were down slightly in June for the third consecutive month. Prices rose 3.4% year over year, the slowest rate since June 2023. Thirty of the 50 most populous U.S. metros recorded a drop in home prices month over month. Prices fell most in Washington, D.C. 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