Key Insights At National Level
U.S. home values for combined single-family detached and single-family attached properties rose 1.1% year-over-year, rebounding from 0.9% – the lowest annual growth rate of 2025 recorded last month.
On a month-over-month basis, non-seasonally adjusted (NSA) home values dipped slightly by 0.1% in November 2025. However, on a seasonally adjusted basis, home values increased by +0.3%.
Nationwide, home values were surprisingly resilient in November 2025, typically one of the slowest months of the year. It will be interesting to see whether this trend continues through December.
Valuation Model Datasheet
Key Insights At State Level
On a year-over-year basis, Colorado, Florida, and Texas posted the largest declines through November. In contrast, Connecticut, Wisconsin, and Illinois continued to deliver strong annual growth.
On a month-over-month basis, about 68% of U.S. states saw home value depreciation in November. Vermont, Mississippi, and Oregon recorded the steepest declines, each falling by more than 1%.
On a non-seasonally adjusted basis, the median month-over-month change in home values was approximately -0.2% in November 2025, essentially unchanged from the prior month.
Top 50 CBSA Markets
On a year-over-year basis, 46% of the top 50 CBSA markets were in negative territory through November 2025. Austin (TX) and North Port – Sarasota (FL) still stand out with the largest annual declines, while Hartford (CT) continue to show the strongest annual home value growth.
On a month-over-month basis, about 68% of the top 50 CBSA markets experienced home value declines on a non-seasonally adjusted basis, led by Austin (TX). At the other end of the spectrum, Tampa (FL) showed some signs of recovery with a 0.6% monthly increase in home values.
Home value depreciation appears to be easing across most major markets. On a non-seasonally adjusted basis, the median month-over-month home value change among the top 50 CBSA markets was around -0.1%, an improvement from -0.3% last month and -0.5% just two months ago.
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.
