WASHINGTON – Single-family home prices increased 5.2% from Q1 2024 to Q1 2025, largely unchanged from the previous quarter’s year-over-year growth pace of 5.3%, according to the Fannie Mae Home Price Index.

The FNM-HPI, which is a national, repeat-transaction home price index measuring the average, quarterly price change for all single-family properties in the United States, excluding condos, found that on a quarterly basis, home prices rose 1.4% in Q1 2025 on a seasonally adjusted and non-seasonally adjusted basis.

Fannie Mae noted the FNM-HPI is produced by aggregating county-level data to create both seasonally adjusted and non-seasonally adjusted national indices that are representative of the whole country and designed to serve as indicators of general single-family home price trends. Fannie Mae said its home price estimates are based on preliminary data available as of the date of index estimation and are subject to change as additional data become available.