{"id":81846,"date":"2025-08-19T05:00:03","date_gmt":"2025-08-19T12:00:03","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=81846"},"modified":"2025-08-18T16:46:19","modified_gmt":"2025-08-18T23:46:19","slug":"home-price-index-july-2025","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/home-price-index-july-2025\/","title":{"rendered":"Home Prices Tick Down 0.1% in July, Fall in 39 of the Top 50 U.S. Metros"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i><span style=\"font-weight: 400;\">U.S. home prices fell 0.1% in July, the third month-over-month decline in the past three months.<\/span><\/i><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i><span style=\"font-weight: 400;\">On a year-over-year basis, home prices rose 2.9%, the lowest annual rate in Redfin\u2019s records going back to 2012.<\/span><\/i><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><i><span style=\"font-weight: 400;\">A record 39 of the top 50 U.S. metros saw month-over-month price declines.<\/span><\/i><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">U.S. home prices nudged 0.1% lower in July on a seasonally adjusted basis\u2014the third consecutive month that prices posted a monthly decline.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On a year-over-year basis, price growth slowed to 2.9%, the lowest rate recorded in Redfin Home Price Index (RHPI) data going back to 2012.<\/span><\/p>\n<div id=\"viz1755559939816\" 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;8T&#47;8T2PKWRHN&#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\/8T2PKWRHN\" \/><param name=\"toolbar\" value=\"yes\" \/><param name=\"static_image\" value=\"https:\/\/public.tableau.com\/static\/images\/8T\/8T2PKWRHN\/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('viz1755559939816');                    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='1450px';}                     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 Cotality Case-Shiller Home Price Indices, but is a month ahead.\u00a0 July data covers the three months ending July 31, 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;\">The RHPI has only posted monthly declines on five occasions since 2012: August 2022, December 2022, and now May, June and July this year.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Price growth has halted because the number of homes for sale has rebounded to pre-pandemic levels, while the number of buyers in the market has <\/span><a href=\"https:\/\/public.tableau.com\/views\/BuyersvsSellersPublic\/BuyersvsSellers?:language=en-US&amp;:embed=y&amp;:sid=&amp;:redirect=auth&amp;:embed_code_version=3&amp;:loadOrderID=3&amp;:display_count=y&amp;publish=yes&amp;:origin=viz_share_link\"><span style=\"font-weight: 400;\">declined<\/span><\/a><span style=\"font-weight: 400;\"> to the lowest level in more than a decade (excluding the peak of pandemic lockdowns in April 2020). Many would-be homebuyers are reluctant to move because prices are still near record highs, mortgage rates remain elevated and economic uncertainty persists.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cAfter several years of tight inventory driving relentless price growth, we\u2019re now seeing the opposite dynamic,\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;\">. \u201cHome prices are falling in more U.S. metros than at any point since we began tracking this data in 2012, and the reason is simple: supply is significantly outpacing demand. If homeowners want to sell, they have to meet buyers where they are, which often means lowering prices. It\u2019s a moment where patient, prepared buyers can find deals that simply weren\u2019t possible a year ago.\u201d<\/span><\/p>\n<h3><strong>Metro-Level Summary: Redfin Home Price Index, July 2025<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">Home prices fell in 39 of the 50 most populous U.S. metro areas on a seasonally adjusted basis in July, month over month\u2014the highest number of metros to post a monthly decline in RHPI records going back to 2012. The number surpassed the 38 recorded in September 2022, when skyrocketing mortgage rates froze price growth following a two-year buying frenzy.<\/span><\/p>\n<p><iframe id=\"datawrapper-chart-DZqfB\" style=\"width: 0; min-width: 100% !important; border: none;\" title=\"Home Prices Fell in a Record 39 Major U.S. Metros in July\" src=\"https:\/\/datawrapper.dwcdn.net\/DZqfB\/5\/\" height=\"439\" frameborder=\"0\" scrolling=\"no\" aria-label=\"Column 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;\">The biggest decline in July was in West Palm Beach, FL (-2.6%), followed by San Diego (-2.2%) and Austin, TX (-1.9%). Prices increased most in Warren, MI (1.3% month over month), Newark, NJ (0.7%) and San Jose, CA (0.5%).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On a year-over-year basis, prices in New York (11.8%) rose the most, followed by Newark (9.3%) and Nassau County, NY (8.3%). Prices fell the most in Austin (-4.5% year over year), Tampa, FL (-4.2%) and Dallas (-2.6%).<\/span><\/p>\n<div id=\"viz1755559964493\" 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;9Q&#47;9QFZBZZ7Q&#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\/9QFZBZZ7Q\" \/><param name=\"toolbar\" value=\"yes\" \/><param name=\"static_image\" value=\"https:\/\/public.tableau.com\/static\/images\/9Q\/9QFZBZZ7Q\/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('viz1755559964493');                    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='1450px';}                     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 fell 0.1% in July, the third month-over-month decline in the past three months. On a year-over-year basis, home prices rose 2.9%, the lowest annual rate in Redfin\u2019s records going back to 2012. A record 39 of the top 50 U.S. metros saw month-over-month price declines. U.S. home prices nudged 0.1% lower in [&hellip;]<\/p>\n","protected":false},"author":13568,"featured_media":77831,"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],"dashboard":[],"coauthors":[682],"class_list":["post-81846","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"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v27.6) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Home Prices Tick Down 0.1% in July, Fall in 39 of the Top 50 U.S. Metros<\/title>\n<meta name=\"description\" content=\"U.S. home prices nudged 0.1% lower in July on a seasonally adjusted basis\u2014the third consecutive month that prices posted a monthly decline. 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