Home Price Growth Moderates in Second Quarter
Fannie Mae (FNMA) released its Q2 2025 Home Price Index (FNM-HPI), showing a 4.1% year-over-year increase in single-family home prices, down from the previous quarter's 5.0% growth rate. This continues the moderating trend in home price growth observed since early 2024.
On a quarterly basis, home prices increased 0.3% seasonally adjusted and 2.0% non-seasonally adjusted. The FNM-HPI is a national, repeat-transaction index that measures average quarterly price changes for single-family properties across the United States, excluding condominiums.
Fannie Mae (FNMA) ha pubblicato il suo Indice dei Prezzi delle Case (FNM-HPI) per il secondo trimestre del 2025, evidenziando un aumento annuo del 4,1% nei prezzi delle abitazioni unifamiliari, in calo rispetto al tasso di crescita del 5,0% del trimestre precedente. Questo conferma la tendenza al rallentamento della crescita dei prezzi delle case osservata dall'inizio del 2024.
Su base trimestrale, i prezzi delle case sono aumentati del 0,3% aggiustato stagionalmente e del 2,0% non aggiustato stagionalmente. Il FNM-HPI 猫 un indice nazionale basato su transazioni ripetute che misura le variazioni medie trimestrali dei prezzi per le propriet脿 unifamiliari negli Stati Uniti, escludendo i condomini.
Fannie Mae (FNMA) public贸 su 脥ndice de Precios de Viviendas (FNM-HPI) del segundo trimestre de 2025, mostrando un aumento interanual del 4,1% en los precios de casas unifamiliares, una disminuci贸n respecto al crecimiento del 5,0% del trimestre anterior. Esto contin煤a la tendencia de moderaci贸n en el crecimiento de los precios de las viviendas observada desde principios de 2024.
En t茅rminos trimestrales, los precios de las viviendas aumentaron un 0,3% ajustado estacionalmente y un 2,0% sin ajustar estacionalmente. El FNM-HPI es un 铆ndice nacional de transacciones repetidas que mide los cambios promedio trimestrales en los precios de propiedades unifamiliares en Estados Unidos, excluyendo condominios.
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攵勱赴氤勲電� 欤柬儩 臧�瓴╈澊 瓿勳爤 臁办爼 旮办 0.3%, 牍勱硠鞝� 臁办爼 旮办 2.0% 靸侅姽頄堨姷雼堧嫟. FNM-HPI電� 氙戈淡 雮� 雼弲 欤柬儩鞚� 韽夑窢 攵勱赴氤� 臧�瓴� 氤�霃欖潉 旄§爼頃橂姅 鞝勱淡 雼渼 氚橂车 瓯半灅 歆�靾橂, 旖橂弰氙鸽媹鞐勳潃 鞝滌櫢霅╇媹雼�.
Fannie Mae (FNMA) a publi茅 son Indice des Prix de l鈥橦abitat (FNM-HPI) pour le deuxi猫me trimestre 2025, montrant une augmentation annuelle de 4,1% des prix des maisons individuelles, en baisse par rapport au taux de croissance de 5,0% du trimestre pr茅c茅dent. Cela confirme la tendance 脿 la mod茅ration de la croissance des prix des logements observ茅e depuis d茅but 2024.
Sur une base trimestrielle, les prix des logements ont augment茅 de 0,3% en donn茅es corrig茅es des variations saisonni猫res et de 2,0% en donn茅es brutes. Le FNM-HPI est un indice national bas茅 sur des transactions r茅p茅t茅es qui mesure les variations moyennes trimestrielles des prix des propri茅t茅s individuelles aux 脡tats-Unis, 脿 l鈥檈xclusion des condominiums.
Fannie Mae (FNMA) ver枚ffentlichte seinen Home Price Index (FNM-HPI) f眉r das zweite Quartal 2025, der einen jahresvergleichenden Anstieg von 4,1% bei den Preisen f眉r Einfamilienh盲user zeigt, was unter dem Wachstum von 5,0% im vorherigen Quartal liegt. Dies setzt den seit Anfang 2024 beobachteten Trend einer Abschw盲chung des Preiswachstums fort.
Quartalsweise stiegen die Hauspreise um 0,3% saisonbereinigt und 2,0% nicht saisonbereinigt. Der FNM-HPI ist ein nationaler Index auf Basis wiederholter Transaktionen, der durchschnittliche viertelj盲hrliche Preis盲nderungen f眉r Einfamilienh盲user in den USA misst, ausgenommen Eigentumswohnungen.
- Home prices continue to show positive growth at 4.1% year-over-year
- Quarterly growth remains positive at 0.3% seasonally adjusted
- Home price growth pace slowed from 5.0% to 4.1% year-over-year
- Continued moderation in home price growth since early 2024
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 are available on Fannie Mae's Data and Insights page:
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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