WASHINGTON, July 16, 2025 /PRNewswire/ -- 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
Fannie Mae's 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. Opinions, analyses, estimates, forecasts, beliefs, and other views of Fannie Mae's Economic and Strategic Research (ESR) Group included in these materials should not be construed as indicating Fannie Mae's business prospects or expected results, are based on a number of assumptions, and are subject to change without notice. How this information affects Fannie Mae will depend on many factors. Although the ESR Group bases its opinions, analyses, estimates, forecasts, beliefs, and other views on information it considers reliable, it does not guarantee that the information provided in these materials is accurate, current or suitable for any particular purpose. Changes in the assumptions or the information underlying these views could produce materially different results. The analyses, opinions, estimates, forecasts, beliefs, and other views published by the ESR Group represent the views of that group as of the date indicated and do not necessarily represent the views of Fannie Mae or its management.
About the ESR Group
Fannie Mae's Economic and Strategic Research Group, led by Chief Economist Mark Palim, studies current data, analyzes historical and emerging trends, and conducts surveys of consumers and mortgage lenders to provide forecasts and analyses on the economy, housing, and mortgage markets.
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