U.S. Home Price Insights Released for April 2025 by Major Industry Insight Provider
Cotality, formerly CoreLogic, released its monthly home price insights, detailing in the overview that homebuying demand remains weak as households address economic and policy uncertainty; potential inflation pressures from tariffs; and concerns about job losses and personal financial situations.
The Cotality team forecasts home price growth returning to meet long-term averages; that Tennessee and South Carolina are coming onto the map as attractive retirement destinations, and their popularity is reflected in home prices; and that the income needed to afford a median-priced home is 22% higher than the average national wage.
According to the article, For the last two and a half years, prices have ebbed and flowed below the records set in June 2022, but in February, prices finally reached a new high point putting the national median home price at $385,000.
“Despite recent increases in home prices breaking the trend of flat prices, February’s seasonal rise remained subdued compared to pre-pandemic levels, contributing to a decline in overall annual appreciation. This continued cooling reflects weak homebuying demand as households address economic and policy uncertainty; potential inflation pressures from tariffs; and concerns about job losses and personal financial situation,” said Cotality’s Chief Economist Selma Hepp.
Still, not every state has equal home price growth. The Northeast has spent months surpassing national average growth trends, but in February, West Virginia made an appearance as one of the top five states for price growth. Tennessee and South Carolina are also seeing new price records, which could continue as more people move to southern states surrounding Florida. The states have a median home price of $335,000 and $332,000, respectively. As more baby boomers move into retirement, they are looking for affordable regions, and Appalachia has become an increasingly popular destination. The influx of well-heeled retirees has the potential to alter these markets that have been historically affordable.
