See the 77 major housing markets with falling home prices
Want more housing market stories from Lance Lambert’s Resi Club in your inbox? Subscribe to the Resi Club newsletter. Based on our analysis of the Zillow Home Value Index, U.S. home prices—including single-family and condos—rose 0.8% between May 2025 and May 2026. That pace is about the same as it was a year ago, back in May 2025, when the national year-over-year home price growth rate was 0.4%. And it’s up slightly from the recent year-over-year low of -0.01% in August 2025. In the first half of 2025, the number of major metro area housing markets seeing year-over-year declines climbed. That count has since stopped ticking up. 31 of the nation’s 300 largest housing markets (10% of markets) had a falling year-over-year reading in the January 2024 to January 2025 window. 42 of the nation’s 300 largest housing markets (14%) had a falling year-over-year reading in the February 2024 to February 2025 window. 60 of the nation’s 300 largest housing markets (20%) had a falling year-over-year reading in the March 2024 to March 2025 window. 80 of the nation’s 300 largest housing markets (27%) had a falling year-over-year reading in the April 2024 to April 2025 window. 96 of the nation’s 300 largest housing markets (32%) had a falling year-over-year reading in the May 2024 to May 2025 window. 110 of the nation’s 300 largest housing markets (36%) had a falling year-over-year reading in the June 2024 to June 2025 window. 105 of the nation’s 300 largest housing markets (36%) had a falling year-over-year reading in the July 2024 to July 2025 window. 109 of the nation’s 300 largest housing markets (35%) had a falling year-over-year reading in the August 2024 to August 2025 window. 105 of the nation’s 300 largest housing markets (35%) had a falling year-over-year reading in the September 2024 to September 2025 window. 105 of the nation’s 300 largest housing markets (35%) had a falling year-over-year reading in the October 2024 to October 2025 window. 98 of the nation’s 300 largest hou