Key Insights At National Level
U.S. home values for combined single-family detached and single-family attached properties increased by 2% in March 2025 from a year ago, the lowest annual growth reading since June 2023.
On a month-over-month basis, non-seasonally adjusted (NSA) home values increased by 1.2% in March 2025. On a seasonally adjusted basis, home values increased by 0.3% from a month ago.
Nationwide annual home value growth continued its downward trajectory that started about a year ago even as on a month-over-month basis it returned to its typical seasonal growth.
Valuation Model Datasheet
Key Insights At State Level
On a year-over-year basis, Texas, Florida, and Arizona are the only states with home value depreciation through March 2025. Alaska, Connecticut, and New York recorded the highest annual home value growth of around 7%.
On a month-over-month basis, all states moved into positive territory in March 2025, with the beginning of a new Spring season. Wisconsin recorded the strongest monthly home value growth at about 2.8%.
On a non-seasonally adjusted basis, the median month-over-month home value change moved up significantly to 1.3%, from 0.4% a month ago, helped by a slight decrease in interest rates along with the typical seasonal boost.
Top 50 CBSA Markets
On a year-over-year basis, North Port – Sarasota (FL) and Austin (TX) continue to show the worst performance among the top 50 CBSA markets. At the other end, Hartford (CT), New York (NY), and Milwaukee (WI) recorded solid annual home value growth of around 6% through March 2025.
On a month-over-month basis, all top 50 CBSA markets except North Port – Sarasota (FL) were in positive territory in March 2025. The strongest performances were recorded by Milwaukee (WI) and Pittsburgh (PA), which recorded monthly home value growth of around 3%.
Home value appreciation continued in almost all markets during March 2025, in line with seasonal trends. On a non-seasonally adjusted basis, the median month-over-month home value change among the top 50 CBSA markets moved up to 1.1%, from 0.6% in the previous month.
Why TerraIndex™ HPI
Our Home Price Index (HPI) is based on the proprietary Quantarium Valuation Model (QVM) value estimates for more than 100 million residential U.S. homes. QVM has been tested extensively in the last 5 years by some of the top third-party AVM testing agencies in the U.S. and has been consistently ranked at the top for both Accuracy and Hit Rate performance metrics. QVM was also recently approved by Fitch Ratings for Wall Street transactions. You can read the announcement here.
QVM re-computes the estimated values for the entire national footprint on a weekly basis, along with HPIs at various geography levels – from State, County, CBSA, down to Zip Code and Census Tract. Furthermore, the HPIs produced on any given date are based on proprietary valuation models which include over 90% of all sales transactions that will have been eventually reported through a four-week rolling period ending that date, taking advantage of Quantarium’s industry leading Data Services Platform (QDSP) to reduce the processing time lag to an absolute minimum. That allows Quantarium to provide the most current market insights, weeks faster than most other housing indices in the U.S. Learn more about TerraIndex™ HPI here.
The report for a given month is usually available on the second Wednesday of the following month, for example HPIs for the month of December 2022 were made available on Wednesday, January 11, 2023.
About Quantarium
Located in Bellevue, WA, Quantarium was founded by a team of leading scientists and Ph.D.’s. The company has designed and developed an innovative and enabling set of AI and Visual Technologies currently being deployed across multiple real estate industry sectors. Quantarium is one of the most accurate sources of property insights for over 158 million U.S. properties and trusted by major mortgage lenders, financial institutes, builders, direct marketing agencies, and real estate professionals across the nation. With a technology suite that is different in kind, then degree, the company’s products and services uncover and capitalize on the core DNA of vertical industries. From genetic modeling property valuations and markets that understand and interpret real estate data as expressed through synthetic future populations, through to CV adjusted values, Quantarium offers real AI to drive real value.
For business inquiries, please contact us at 424.210.8847 or discover@quantarium.com.
