WASHINGTON– Single-family home prices increased 4.1% from Q2 2024 to Q2 2025, down from the previous quarter’s year-over-year growth pace of 5%, according to the latest reading of the Fannie Mae Home Price Index (FNM-HPI).
The FNM-HPI 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.
The findings in the newest report continue the “general moderation in home price growth observed since the start of 2024,” Fannie Mae said.
On a quarterly basis, home prices rose 0.3% and 2.0% in Q2 2025 on a seasonally adjusted and non-seasonally adjusted basis, respectively.
How Data is Compiled
According to Fannie Mae, 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.
