U.S. home prices fell 0.1% in July but rose 2.3% year over year. In the South Atlantic division, prices were flat monthly, up 0.8% annually.

WASHINGTON — U.S. house prices fell 0.1% in July, according to the U.S. Federal Housing seasonally adjusted monthly House Price Index (FHFA HPI). House prices rose 2.3% from July 2024 to July 2025. The previously reported 0.2% price decline in June remained unchanged.

For the nine census divisions, seasonally adjusted monthly home price changes ranged from -1.2% in the Middle Atlantic division to +0.3% in the East North Central division. The 12-month changes were all positive, ranging from +0.2% in the Pacific division to +5.1% in the Middle Atlantic division.

In the South Atlantic division, which includes Florida, the seasonally adjusted monthly home price did not change, but increased 0.8% year over year.

The FHFA HPI is a comprehensive collection of publicly available house price indexes that measure changes in single-family home values based on data that extend back to the mid-1970s from all 50 states and over 400 American cities. It incorporates tens of millions of home sales and offers insights about house price changes at the national, census division, state, metro area, county, ZIP code and census tract levels. FHFA uses a fully transparent methodology based upon a weighted, repeat-sales statistical technique to analyze house price transaction data.

FHFA releases HPI data and reports quarterly and monthly. The flagship FHFA HPI uses seasonally adjusted, purchase-only data from Fannie Mae and Freddie Mac. Additional indexes use other data, including refinances, mortgages insured by the Federal Housing Administration, and real property records.

Source: FHFA