U.S. House Prices Rise 4.0% YoY: FHFA

(Illustrations courtesy of FHFA)

U.S. house prices rose 4.0% between the first quarter of 2024 and the first quarter of 2025, according to the U.S. Federal Housing Finance Agency House Price Index.

House prices for the first quarter of 2025 were up 0.7% compared to the fourth quarter of 2024. FHFA’s seasonally adjusted monthly index for March was down 0.1% from February.

Nationally, the U.S. housing market has experienced positive annual appreciation each quarter since the start of 2012, FHFA reported.

House prices rose in 49 states and District of Columbia between the first quarter of 2024 and the first quarter of 2025. The states with the highest annual appreciation included Rhode Island, 11.4%; West Virginia, 9.3%; Connecticut, 9.0%; Ohio, 7.6%; and Wyoming, 7.4%. House prices in Hawaii declined by 2.2%.

All nine census divisions had positive house price changes year-over-year FHFA said. The Middle Atlantic region recorded the strongest appreciation, posting a 6.8% increase from the first quarter of 2024 to the first quarter of 2025. The Pacific region recorded the smallest four-quarter appreciation at 1.8%.

FHFA published other trends in the Top 100 Metropolitan Statistical Areas in an interactive dashboard here.