81 major housing markets where home prices are falling

U.S. home prices increased 0.7% year over year between April 2025 and April 2026, matching the prior year’s 0.7% pace. Growth was slightly higher than the recent year-over-year low of -0.01% in August 2025. In the first half of 2025, more major metro housing markets recorded year-over-year declines. The number of markets with falling readings rose from 31 in the Jan. 2024 to Jan. 2025 window to 110 in the Jun. 2024 to Jun. 2025 window. After that peak, the count stopped increasing, leveling off around 105 in later months.

"Based on our analysis of the Zillow Home Value Index, U.S. home prices are up +0.7% year-over-year between April 2025 and April 2026. That year-over-year pace is the same as it was a year ago-back in April 2025, when the national year-over-year home price growth rate was +0.7%. And it's up slightly from the recent year-over-year low of -0.01% in August 2025."

"In the first half of 2025, the number of major metro area housing markets seeing year-over-year declines climbed. That count has since stopped ticking up. 31 of the nation's 300 largest housing markets (i.e., 10% of markets) had a falling year-over-year reading in the Jan. 2024 to Jan. 2025 window. 42 of the nation's 300 largest housing markets (i.e., 14% of markets) had a falling year-over-year reading in the Feb. 2024 to Feb. 2025 window."

"60 of the nation's 300 largest housing markets (i.e., 20% of markets) had a falling year-over-year reading in the March 2024 to March 2025 window. 80 of the nation's 300 largest housing markets (i.e., 27% of markets) had a falling year-over-year reading in the April 2024 to April 2025 window. 96 of the nation's 300 largest housing markets (i.e., 32% of markets) had a falling year-over-year reading in the May 2024 to May 2025 window. 110 of the nation's 300 largest housing markets (i.e., 36% of markets) had a falling year-over-year reading in the June 2024 to June 2025 window."

"105 of the nation's 300 largest housing markets (i.e., 36% of markets) had a falling year-over-year reading in the July 2024 to July 2025 window. 109 of the nation's 300 largest housing markets (i.e., 35% of markets) had a falling year-over-year reading in the Aug. 2024 to Aug. 2025 window. 105 of the nation's 300 largest housing markets (i.e., 35% of markets) had a falling year-over-year reading in the Sept. 2024 to Sept. 2025 window. 105 of the nation's 300 largest housing markets (i.e., 35% of markets) had a falling year-over-year reading in the Oct. 2024 to Oct. 2025 window."

Read at Fast Company