US home prices hold below long-term average for 17th month

For the 17th month in a row, US home prices remain below their long-term average. With higher mortgage rates and the lock-in effect shaping today’s housing market, both supply and demand are feeling the squeeze. That’s led to a modest monthly price growth of just 0.2%. Compared to pre-pandemic levels, prices are still up by 80% overall—though we’re seeing stronger gains in the Northeast and Midwest, while Sun Belt and Western markets have pulled back. As always, my focus is on making sense of these trends for you—let’s get you home, no matter where the numbers land.