1) On a month over month basis, home values dropped in 24 of 50 states in March.
The drops in value were most concentrated in the Sun Belt and Mountain West, as well as California. pic.twitter.com/xOuFYpoPNq
— Nick Gerli (@nickgerli1) April 17, 2025
4) In Tampa, values are already down -3.3% over the last year. While in New York, they are up +5.6%.
Meanwhile, inventory in Tampa is through the roof. While in New York it's still very low. pic.twitter.com/rylvF6Km4q
— Nick Gerli (@nickgerli1) April 17, 2025
6) However, in the last year, Baltimore is up +2.9%. While Miami is down -0.2%.
Meanwhile – Baltimore has very little inventory. While Miami has a lot of inventory.
Signaling that price growth will continue to be weaker in Miami. pic.twitter.com/ypEM0rhM9I
— Nick Gerli (@nickgerli1) April 17, 2025
March 2025 Market Report
Home values
- The typical U.S. home value is $359,741.
- The typical monthly mortgage payment, assuming 20% down, is $1,855.
- Home values climbed month over month in 41 of the 50 largest metro areas in March. Gains were biggest in San Jose (1.3%), Milwaukee (0.9%), San Francisco (0.9%), Pittsburgh (0.8%), and Hartford (0.7%).
- Home values fell, on a monthly basis, in five major metro areas. The largest monthly drops were in Miami (-0.4%), Tampa (-0.3%), Orlando (-0.2%), Jacksonville (-0.1%), and San Antonio (-0.1%).
- Home values are up from year-ago levels in 34 of the 50 largest metro areas. Annual price gains are highest in San Jose (5.5%), Cleveland (5.3%), Providence (5.2%), New York (4.8%), and Hartford (4.7%).
- Home values are down from year-ago levels in 16 major metro areas. The largest drops were in Austin (-4.6%), Tampa (-4.5%), San Antonio (-2.7%), Phoenix (-2.5%), and Dallas (-2.4%).
- The typical mortgage payment is up 0.3% from last year and has increased by 108.8% since pre-
https://www.zillow.com/research/march-2025-market-report-35082/