- New York-Jersey City-White Plains home prices rose 2.7% year-over-year in June 2025.
- National home prices increased by 1.7% year-over-year, with a continued slowdown in price growth.
- The luxury tier in New York-Jersey City-White Plains experienced the highest growth at 7.4% annually.
According to the June 2025 Home Price Index (HPI) report released by First American Data & Analytics, home prices in the New York-Jersey City-White Plains area saw a 2.7% increase over the past year. Despite a 2.3% month-over-month decrease from May to June 2025, the year-over-year growth indicates a continued, albeit slowing, rise in home values.
Nationally, the housing market exhibited a more modest annual price increase of 1.7%, reflecting the ongoing trend of deceleration in home price growth. This slowdown suggests a shift towards a more balanced market favoring buyers, as inventory levels improve and price adjustments occur.
In terms of price tiers within the New York-Jersey City-White Plains metropolitan area, the luxury tier experienced significant growth, with a 7.4% year-over-year increase. The starter tier also saw an increase of 2.1%, while the mid-tier experienced a slight decline of 0.2%.
Mark Fleming, Chief Economist at First American, highlighted that while affordability constraints continue to challenge potential buyers, especially in the starter tier, the current price growth environment might represent a "Goldilocks" scenario—neither too hot nor too cold—ideal for restoring market equilibrium.
First American Financial Corporation (FAF, Financial), the parent company of First American Data & Analytics, continues to provide insights into housing market dynamics through its comprehensive property-centric data solutions. The next HPI update is scheduled for the week of August 18, 2025.
