The Federal Housing Finance Agency published its quarterly FHFA House Price Index update showing U.S. house prices rose 1.8% between the fourth quarter of 2024 and the fourth quarter of 2025, and increased 0.8% in the fourth quarter of 2025 compared with the third quarter of 2025. FHFA’s seasonally adjusted monthly index for December increased 0.1% from November. Over the prior four quarters, prices rose in 41 states, with the largest gains in North Dakota (6.4%), Delaware (6.3%), Illinois (6.1%), Wisconsin (5.7%), and Michigan (5.5%), while prices fell in nine states and the District of Columbia, led by Florida (down 2.7%). Across the 100 largest metropolitan areas, 66 posted increases, with the largest rise in Allentown-Bethlehem-Easton, PA-NJ (8.9%) and the steepest decline in Cape Coral-Fort Myers, FL (down 9.1%); six of nine census divisions rose year over year, led by East North Central (up 5.0%), while Mountain declined 0.2%. FHFA scheduled the next monthly HPI report, including data through January 2026, for March 31, 2026, and the next quarterly report, including first quarter 2026 data and monthly data for March 2026, for May 26, 2026.

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