Home price hikes have dominated news headlines for months now, but CoreLogic expects relief won’t be coming for buyers anytime soon. Following month-over-month Spring price jumps across the U.S., the CoreLogic HPI Forecast indicates that home prices will rise by 3.7 percent on a year-over-year basis from March 2024 to March 2025.
U.S. year-over-year home price gains remained above 5 percent this past March for the fifth straight month and are projected to stay in that general range for most of the next 12 months. Northeastern states continued to post the nation’s largest gains through the Spring.
California markets including Los Angeles and San Diego continued to see significant price hikes as well, two of the few Western cities to make the top 10. Year-over-year, Miami saw the largest average price increase in March by 10.6 percent, followed by San Diego and Chicago.
The markets most at risk for home price declines include Melbourne, Florida; Atlanta; Spokane; Daytona Beach and Greenville, South Carolina.