House Price Growth Slowed to 1.2% YoY in September

by Calculated Risk on 11/06/2025 02:32:00 PM

From Cotality (formerly CoreLogic): US home price insights — November 2025

• Year-over-year price growth continues its downward trend, only rising 1.2% in September 2025.

• Connecticut, New Jersey, Alaska, West Virginia, and Wyoming saw the highest year-over-year price growth this month. Washington D.C. and Florida saw home prices dip the most.
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The U.S. housing market is continuing to cool off as summer fades into fall. Home prices across the country are starting to sag as inventory reaches its highest level since 2019. While the Northeast is still showing strong market signals, other regional differences are becoming apparent.
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“Much like the K-shaped trend seen in overall consumer spending—driven largely by higher income groups—lower-income potential homebuyers are facing challenges due to an uncertain job market, sluggish wage growth, and worsening financial conditions. This is leading to weaker demand for homes and downward pressure on prices,” said Cotality’s Chief Economist Dr. Selma Hepp.

Amid falling prices, there has been a rise in serious mortgage delinquencies in some states like Floridaa state where a large proportion of markets are experiencing ebbing prices.
emphasis added

This graph from Cotality shows the Top 10 coolest markets.

The list is dominated by Florida.  According to Cotality, the highest risk markets are all in Florida.

House prices are under pressure with more inventory and sluggish sales.