In 2025, home prices are still rising, but at a slower pace than in previous years. The median U.S. home value is now $355,328, up 2.7% from last year, according to GOBankingRates. However, rising inventory is giving buyers more homes to choose from, and in some areas, prices are even declining, with Kansas City, Kan., Austin, Texas, and Miami topping the list. In these cities, prices have fallen by 10.3%, 9.2%, and 7.9%, respectively, ahead of the spring buying season.
“Austin, Denver, Phoenix, and Nashville were the darling markets of 2021 and 2022 and places where prices went wild,” Realtor.com senior economist Joel Berner said. “Now, with more homes on the market, prices are returning to where they belong.”
Key Florida markets such as Miami, Tampa and Orlando have also seen prices drop of late as the inventory of homes returns to pre-pandemic norms, Berner added. Read more
