Key Insights At National Level
U.S. home values for combined single-family detached and single-family attached properties rose 0.8% year-over-year, marking the lowest annual growth in the past 30 months.
On a month-over-month basis, non-seasonally adjusted (NSA) home values decreased by 0.5% in December 2025. Seasonally adjusted home values were essentially flat.
2025 was a year with slow but steady erosion in annual home value growth, starting at 3% and ending below 1%. The final month of the year underscored that trend.
Valuation Model Datasheet
Key Insights At State Level
On a year-over-year basis, Texas, the District of Columbia, Colorado, and Florida posted the largest declines through the end of 2025. Delaware, Connecticut, and Wisconsin recorded solid annual growth.
On a month-over-month basis, more than 80% of U.S. states saw home value depreciation in December. The District of Columbia recorded the steepest decline, reinforcing the negative trend in that area.
On a non-seasonally adjusted basis, the median month-over-month change in home values was approximately -0.5% in December 2025, a steep drop compared to -0.2% in the previous month.
Top 50 CBSA Markets
On a year-over-year basis, 48% of the top 50 CBSA markets ended 2025 in negative territory. Austin (TX) and North Port – Sarasota (FL) continue to stand out with the largest annual declines, while Hartford (CT) and Milwaukee (WI) continue to post strong annual home value growth, exceeding 5%.
On a month-over-month basis, about 92% of the top 50 CBSA markets experienced home value declines on a non-seasonally adjusted basis – a sharp increase from 68% in the prior month. However, these changes were largely contained within a narrow range of -1.4% to +0.2%.
On a non-seasonally adjusted basis, the median month-over-month home value change among the top 50 CBSA markets was around -0.5%, a notable drop from a month ago. While depreciation remains widespread, lower mortgage rates could help stabilize home values as we move into 2026.
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.
