The Federal Housing Finance Agency published its quarterly House Price Index (FHFA HPI), reporting that US house prices rose 2.2% between the third quarter of 2024 and the third quarter of 2025 and increased 0.2% compared with the second quarter of 2025. FHFA’s seasonally adjusted monthly index for September 2025 was unchanged from August. House prices rose in 44 states and the District of Columbia over the year, with the largest annual increases in Illinois (6.9%), New York (6.8%), North Dakota (6.3%), New Jersey (5.9%), and Connecticut (5.8%), while prices fell in six states led by Florida (-2.3%). Among the 100 largest metropolitan areas, prices rose in 76, with the strongest annual increase in Allentown-Bethlehem-Easton, PA-NJ (9.7%) and the largest decline in Cape Coral-Fort Myers, FL (-10.8%); all census divisions except the Pacific division recorded positive year-over-year changes, with the Middle Atlantic division highest at 5.7% and the Pacific division down 0.1%. FHFA will release the next monthly HPI report (data through October 2025) on December 30, 2025, and the next quarterly report (fourth quarter of 2025 and monthly data for December 2025) on February 24, 2026.
Federal Housing Finance Agency 2025-11-25
Federal Housing Finance Agency releases House Price Index showing US house prices up 2.2% year over year in the third quarter of 2025
The Federal Housing Finance Agency's quarterly House Price Index reported a 2.2% increase in US house prices from Q3 2024 to Q3 2025, with a 0.2% rise from Q2 to Q3 2025. Prices rose in 44 states and the District of Columbia, with Illinois seeing the highest annual increase at 6.9%, while Florida had the largest decline at -2.3%. Among the 100 largest metropolitan areas, Allentown-Bethlehem-Easton, PA-NJ had the highest annual increase at 9.7%, and Cape Coral-Fort Myers, FL saw the largest decrease at -10.8%.