Homes.com Report: Moderate Home Price Appreciation Continued in July. Nationally, the Median Home Price Was up 2.1% From a Year Ago.

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 July (based on the data collected to date), including price trends across major metros and house types.

Preliminary price data for June showed a 2.1% increase in the median home price nationally, consistent with this year’s trend of moderating home price growth. Over the past six months, year-over-year price growth has averaged 2.0%, down from 4.5% during the previous six-month period. The median home price rose by $8,000 from July of last year to $393,000. The median prices of townhomes and condos declined slightly compared to last July.

Market conditions continued to shift toward a buyer’s market. July Homes.com data reveals inventory levels increased 26% nationally compared to July 2024. However, mortgage rates remain stubbornly high, keeping affordability at historically low levels. As the market shifts, buyers are becoming more selective and negotiating harder, while sellers are adjusting expectations and offering price reductions.

Regionally, the Midwest and parts of the Northeast experienced the highest home price appreciation. Seven 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, 11 of the 40 largest metros saw outright year-over-year declines in the median home price. Seven of those markets were in the South, where elevated inventory and weaker demand continue to weigh on the market.

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 60% 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 111 million average monthly unique visitors in the second quarter ending June 30, 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 June 30, 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 141 million average monthly unique visitors in the second 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.