The U.S. housing market has shifted from the rapid price gains of 2021 and 2022 into a slower, more uncertain phase. Nationwide, home prices rose 4.0% year-over-year through Q1 2025, according to the FHFA, a notable deceleration from the double-digit increases seen during the pandemic. On a quarterly basis, prices rose just 0.7% in Q1, signaling that while the market is still growing, momentum is clearly fading.

Read the full article

Read more Economic Commentary