Homes.com Report: Home Price Increases Slowed for the Fourth Consecutive Month in April
The median home price increased by just 1.3% in April over last year. The Northeast and some Midwest markets continued to lead the nation in price growth.
Homes.com, a CoStar Group leading online residential marketplace, today released a new report analyzing home prices in April (based on the data collected to date), price trends across major metros, and what the latest developments in the housing market mean for homebuyers.
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National median home price
According to the preliminary estimates, home prices continued to increase in April. Still, the rate of price increases slowed for the fourth consecutive month, with the median home price rising modestly by 1.3% in April. Year-over-year, prices rose 2.2% in March, 2.7% in February, and 3.9% in January. In dollar terms, the median home price went up $5,000 from April of last year to April of this year, going from $380,000 to $385,000. Prices have increased for 22 consecutive months, and the rate of increases peaked at 5.6% in the second half of 2024.
"Moderating price pressures is a welcome relief for potential homebuyers," said Erika Ludvigsen, National Director of Residential Analytics, CoStar/Homes.com. "Meanwhile, the inventory of homes for sale has increased. Higher inventories combined with a slight moderation in price pressures bring good news for homebuyers, especially in several key metros in the Sun Belt region."
The highest price appreciation in the United States is concentrated in markets in the Northeast and parts of the Midwest. Meanwhile, within the 40 largest markets in the United States, the number of markets where prices were either flat or fell year-over-year has more than doubled from six markets in March to fifteen in April. The geography of the bottom group (markets where home prices fell or remained flat) has broadened from largely markets in Florida in March to markets in Texas, North Carolina, parts of California, fast-growing markets, Nashville and Phoenix, and even parts of Ohio.
The data shared in this report could change slightly once all home sales are accounted for. Melina Duggal, Senior Director of Market Analytics at Homes.com, is available for interviews to provide insights into these data points and the residential real estate market in general.
For more information and insights into the latest home buying and selling market trends, visit: Homes.com.
About Homes.com
Homes.com is the fastest-growing residential real estate marketplace and the second largest portal in the United States. Homes.com is a brand of CoStar Group (NASDAQ:CSGP), a global leader in commercial real estate information, analytics, and online marketplaces, which acquired the platform in 2021.
Homes.com is the first major U.S. real estate portal to focus first on helping homeowners and their agents leverage the marketing power of the internet to bring more potential buyers to their listings. Homes.com's unparalleled content and search capabilities bring millions of buyers and sellers to the site where they can seamlessly connect with agents. On average, Homes.com's Members are winning 58% more listings* because they offer the home sellers a real estate portal that works for them not against them.
The Homes.com Network reached an audience of 110 million average monthly unique visitors in the fourth quarter ending December 31, 2024.** Consumer brand awareness skyrocketed from 4% to 33% in just one year since CoStar Group launched the industry's largest marketing campaign to date in February 2024, reintroducing the platform to the market. For more information, visit Homes.com.
*Based on internal analyses comparing Members to non-Members on Homes.com.
** Homes.com Network (which includes Homes.com, the Apartments Network, and the Land Network) average monthly unique visitors for the quarter ended December 31, 2024, according to Google Analytics.
About CoStar Group
CoStar Group (NASDAQ:CSGP) is a global leader in commercial real estate information, analytics, online marketplaces and 3D digital twin technology. Founded in 1986, CoStar Group is dedicated to digitizing the world's real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives.
CoStar Group's major brands include CoStar, a leading global provider of commercial real estate data, analytics, and news; LoopNet, the most trafficked commercial real estate marketplace; Apartments.com, the leading platform for apartment rentals; and Homes.com, the fastest-growing residential real estate marketplace. CoStar Group's industry-leading brands also include Matterport, a leading spatial data company whose platform turns buildings into data to make every space more valuable and accessible, STR, a global leader in hospitality data and benchmarking, Ten-X, an online platform for commercial real estate auctions and negotiated bids and OnTheMarket, a leading residential property portal in the United Kingdom.
CoStar Group's websites attracted over 130 million average monthly unique visitors in the first quarter of 2025, serving clients around the world. Headquartered in Arlington, Virginia, CoStar Group is committed to transforming the real estate industry through innovative technology and comprehensive market intelligence. From time to time, we plan to utilize our corporate website as a channel of distribution for material company information. For more information, visit CoStarGroup.com.
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News Media Contact
Matthew Blocher
CoStar Group
(202) 346-6775
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