Nearly one-third of the 100 largest U.S. metro areas saw home price declines of at least 1% in 2025, driven by high mortgage rates, rising inventory, and softening demand. Home price growth slowed to 1.3% year-over-year, with significant drops in Florida and Virginia Beach. Affordability remains a challenge as mortgage rates hover around 6%, limiting buyer access. Regional variations persist, with some markets poised for growth while others adjust to cooling conditions.
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