Home price changes in 384 largest U.S. housing markets

The latest home worth finding out from the Freddie Mac Residence Price Index—which is calculated using a database of mortgages purchased by each Freddie Mac or Fannie Mae—has arrived.

Consistent with the Freddie Mac Residence Price Index, U.S. home prices fell 0.2% in the middle of the seasonally tender window from October 2023 by November 2023. On a year-over-year basis, U.S. home prices rose 6.2% from November 2022 to November 2023. Nationwide residence prices as measured by Freddie Mac ended November 2023 up 2.0% above the 2022 summer season season peak, and 43.3% above March 2020 ranges.

Every time groups like Freddie Mac level out U.S. home prices, they’re referring to the nationwide combination. Nonetheless, on a market-by-market stage, it’ll presumably differ significantly. The chart underneath reveals the shift inside the nation’s 40 largest metro house markets.

Click here for a searchable chart with all 384 metros tracked by Freddie Mac.

In full, Freddie Mac individually breaks out 384 housing markets. Of those, 366 are up on a year-over-year basis, whereas 18 markets are down.

Among the many many down markets, Austin is the hardest-hit market. Inside the Freddie Mac assortment, Austin is down 5.5% on a year-over-year basis, and down 13.9% since its 2022 worth peak.

Large picture: When considering the Fed’s aggressive charge hikes and the reality that mortgage expenses briefly crossed 8% in 2023, U.S. home prices have been fairly resilient closing 12 months. In markets the place home prices fell, inventory levels alerted us ahead of time.