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Homes.com Report: Home Price Inflation Remained Muted in June. Nationally, the Median Home Price Was up Just 1.3% From a Year Ago

1. National median home price rose 1.3%, lower than previous years' trends. 2. Increased inventory gives buyers more negotiating power amid high prices. 3. Midwest regions saw the highest price gains in June. 4. Sun Belt metros struggle with inventory and demand declines. 5. Homes.com experienced a significant increase in brand awareness.

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FAQ

Why Bearish?

Rising housing inventory and stagnant demand suggest market cooling. Historical examples, such as 2008, show how excess inventory impacts prices negatively.

How important is it?

The data points to weakening housing demand, directly impacting CSGP's business in residential property analytics.

Why Short Term?

Current trends could quickly affect CSGP as market conditions evolve. Past data indicates short-term fluctuations from inventory increases.

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-The combination of higher for-sale inventory and ongoing affordability challenges has dampened price appreciation this year. ARLINGTON, Va.--(BUSINESS WIRE)--Homes.com, a CoStar Group leading online residential marketplace, released a new report today analyzing home price trends in June (based on the data collected to date), including price trends across major metros and house types. Preliminary price data for June showed a modest 1.3% increase in the median home price nationally, consistent with this year’s trend of moderating home price inflation. The June increase is significantly below the increases that were typical for the month of June in recent years. The median home price rose by about $5,000 from June of last year to $395,000. The median prices of townhomes and condos declined compared to last June. Moderating price growth reflects a recent uptick in for-sale inventory and ongoing affordability challenges. The increase in inventory is giving buyers more negotiating power. Still, demand is yet to pick up, as home prices remain high after the run-up during the pandemic years, and mortgage rates stay elevated. Regionally, the Midwest and parts of the Northeast experienced the highest home price appreciation in June compared to June 2024. Five of the 10 major metros with the biggest price increases were in the Midwest. Several key metros in the Northeast also outperformed the nation in June. However, almost a quarter of the 40 largest metros saw outright year-over-year declines in the median home price, with the weakness concentrated in several major Sun Belt metros, struggling with elevated inventory levels and lower demand. The data shared in this report could change slightly once all home sales are accounted for. Erika Ludvigsen, National Director of Residential Analytics at Homes.com, is available for interviews to provide insights on the data and the residential real estate market in general. For more information and insights on the latest home buying and selling market trends, visit Homes.com. About Homes.com Homes.com is the fastest-growing residential real estate marketplace and the second-largest portal in the United States. Homes.com is a brand of CoStar Group (NASDAQ: CSGP), a global leader in commercial real estate information, analytics, and online marketplaces, which acquired the platform in 2021. Homes.com is the first major U.S. real estate portal to focus first on helping homeowners and their agents leverage the marketing power of the internet to bring more potential buyers to their listings. Homes.com’s unparalleled content and search capabilities bring millions of buyers and sellers to the site, where they can seamlessly connect with agents. On average, Homes.com’s Members are winning 58% more listings* because they offer the home sellers a real estate portal that works for them, not against them. The Homes.com Network reached an audience of 104 million average monthly unique visitors in the first quarter ending March 31, 2025.** Consumer brand awareness skyrocketed from 4% to 33% in just one year since CoStar Group launched the industry’s largest marketing campaign to date in February 2024, reintroducing the platform to the market. For more information, visit Homes.com. * Based on internal analyses comparing Members to non-Members on Homes.com. ** Homes.com Network (which includes Homes.com, the Apartments Network, and the Land Network) average monthly unique visitors for the quarter ended March 31, 2025, according to Google Analytics. About CoStar Group CoStar Group (NASDAQ: CSGP) is a global leader in commercial real estate information, analytics, online marketplaces, and 3D digital twin technology. Founded in 1986, CoStar Group is dedicated to digitizing the world’s real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives. CoStar Group’s major brands include CoStar, a leading global provider of commercial real estate data, analytics, and news; LoopNet, the most trafficked commercial real estate marketplace; Apartments.com, the leading platform for apartment rentals; and Homes.com, the fastest-growing residential real estate marketplace. CoStar Group’s industry-leading brands also include Matterport, a leading spatial data company whose platform turns buildings into data to make every space more valuable and accessible, STR, a global leader in hospitality data and benchmarking, Ten-X, an online platform for commercial real estate auctions and negotiated bids and OnTheMarket, a leading residential property portal in the United Kingdom. CoStar Group’s websites attracted over 130 million average monthly unique visitors in the first quarter of 2025, serving clients around the world. Headquartered in Arlington, Virginia, CoStar Group is committed to transforming the real estate industry through innovative technology and comprehensive market intelligence. From time to time, we plan to utilize our corporate website as a channel of distribution for material company information. For more information, visit CoStarGroup.com. More News From CoStar Group

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