TerraIndex™ HPI Report October 2026

TerraIndex™ HPI

November 11, 2026

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Key Insights At National Level

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U.S. home values for combined single-family detached and single-family attached properties increased by 1.0% year-over-year, down slightly from the 1.1% annual growth recorded in the prior month.

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On a month-over-month basis, non-seasonally adjusted (NSA) home values declined 0.5% in October 2026. On a seasonally adjusted basis, home values decreased 0.1%, matching the decline recorded in September.

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Nationwide, home values continued to decline, extending a trend that began several months ago. While these declines remain significant, their pace appears to have stabilized, staying consistent with the previous month.

Key Insights At State Level

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Year-over-year, home values fell in one out of every five states, with the steepest declines observed in Washington, Texas, and Colorado. In contrast, Wisconsin, Rhode Island, and New York recorded solid annual gains.

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Month-over-month, 46 states posted non-seasonally adjusted home value declines in October 2026. Notably, some of the largest monthly decreases occurred in the Midwest and Northeast, led by Michigan and New York.

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On a non-seasonally adjusted basis, the median month-over-month change in home values across all states was -0.5% in October 2026, slightly weaker than the median decline of -0.4% recorded a month earlier.

Top 50 CBSA Markets

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On a year-over-year basis, 44% of the top 50 CBSA markets recorded home value depreciation through October 2026. Austin (TX) and Seattle (WA) remained the weakest-performing major markets. At the other end of the spectrum, New York (NY) and Hartford (CT) continued to lead all 50 major markets in annual appreciation.

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On a month-over-month basis, October 2026 marked the first month in over a year that all top 50 CBSA markets recorded NSA home value declines. Austin (TX) continued to post the largest decreases, while Midwest and Northeast markets such as Milwaukee (WI), Detroit (MI), and Hartford (CT) also saw notable weakness.

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On a non-seasonally adjusted basis, the median month-over-month home value change across the top 50 CBSA markets remained at -0.6%, matching the prior two months but trailing the national average. Home value depreciation appears to be more widespread across major markets than in the rest of the country.

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.