Home prices in the US are rising after a brief surge in purchases

CoreLogic forecast that national house price growth will slow to 2.4% by October 2025. However, single-family home prices are expected to reach a new high by April 2025. The current median sales price for U.S. single-family homes is $385,000, reflecting relative stability in the market.

“As we continue to move forward in this slower time of year for the housing market, home prices are not expected to reveal much about what lies ahead in the spring home buying market,” Hepp said in the report. “In recent years, however, home prices have risen higher in the spring than before the pandemic, despite increased mortgage rates.”

Among major metropolitan areas, Chicago led the way with a year-over-year price increase of 6.4%, followed by Miami at 6.2% and Las Vegas at 5.6%. These increases underscore growing demand in certain urban markets. However, some metropolises are facing challenges.

Read more: How to take advantage of the changing market in 2025

CoreLogic’s Market Risk Indicator identified Provo-Orem, Utah, as the most at-risk market, with over 70% probability of a price decline within the next 12 months. Salt Lake City, Utah; Atlanta-Sandy Springs-Roswell, Georgia; Tucson, Ariz.; and Palm Bay-Titusville-Melbourne, Florida, were also identified as vulnerable to downward price pressure.