Single-Family Home Prices Increase 4.1 Percent
Single-family home prices increased 4.1 percent from Q2 2024 to Q2 2025, down from the previous quarter’s year-over-year growth pace of 5.0 percent, according to the latest reading of the Fannie Mae (FNMA/OTCQB) 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. This continues the general moderation in home price growth observed since the start of 2024. On a quarterly basis, home prices rose 0.3 percent and 2.0 percent in Q2 2025 on a seasonally adjusted and non-seasonally adjusted basis, respectively.
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. The FNM-HPI is publicly available at the national level as a quarterly series with a start date of Q1 1975 and extending to the most recent quarter, Q2 2025. Fannie Mae publishes the FNM-HPI approximately mid-month during the first month of each new quarter.
The full FNM-HPI data sets and a description of the methodology are available on Fannie Mae’s Data and Insights page: https://www.fanniemae.com/data-and-insights
SOURCE Fannie Mae
