- U.S. home prices decreased by 0.1% in June for the third consecutive month.
- Year-over-year home prices increased by 3.4%, marking the slowest growth since June 2023.
- Washington, D.C. experienced a significant 1.8% drop in home prices in June, influenced by federal job cuts.
In June 2025, U.S. home prices showed a marginal decline of 0.1% from the previous month, recording the third consecutive month of slight decreases on a seasonally adjusted basis, according to a recent report by Redfin. This trend indicates a slowing down in home price growth, with a 3.4% increase year-over-year, the slowest rate since June 2023.
Economist Sheharyar Bokhari from Redfin noted that the housing market is experiencing reduced activity, with high mortgage rates and increased housing supply outpacing buyer demand. As a result, prices in more than half of the nation's top 50 metropolitan areas declined month-over-month for the second month in a row.
Washington, D.C. saw a notable 1.8% fall in home prices during June, marking the metro area's second-biggest monthly decline since records began in 2012. The capital's real estate market struggles have been exacerbated by widespread federal government job cuts, affecting at least 50,000 workers. This has contributed to heightened inventory levels as some sellers list properties due to buyouts or early retirements.
Elsewhere, Austin, TX, and San Diego, CA, experienced home price declines of 1.5% and 1.4% respectively. Conversely, Montgomery County, PA, Providence, RI, and New York saw slight increases in home prices, with New York exhibiting the most substantial year-over-year growth at 11.7%.
On the downside, Tampa, FL experienced the most significant year-over-year price drop at 4.5%, followed by Austin, TX, and Dallas, TX, which saw decreases of 3.5% and 2% respectively.
