Softening home price growth
The pace of home value growth finally normalized since the historical highs of 2020 and 2021.
Overall, U.S. home prices rose 1.1% year-over-year in October (while dipping 0.2% month-over-month), according to Cotality. But that ranged by nearly 10 percentage points across the country.
See which states saw the largest and smallest rates of home price growth.
Check your home buying options. Start hereHow fast are home prices growing in my state?
Since skyrocketing from the extreme demand of rock-bottom mortgage rates in 2020 and 2021, the pace of housing value growth continues to decelerate.
Single-family home prices declined 0.2% monthly and grew 1.1% annually in October, according to Cotality’s Home Price Index (HPI).
“The housing market in 2025 demonstrated remarkable resilience despite significant headwinds. Slowing price growth reflects a much-needed rebalancing after years of unsustainable gains. While some markets are experiencing declines, these adjustments will help restore affordability over time and make housing more accessible to a wider group of buyers,” said Selma Hepp, chief economist at Cotality.
Cotality forecast national prices to grow 0.02% next month and 4.3% by October 2026.
At the state level, Wyoming paced the nation with a 7.27% annual gain. Connecticut (6.17%), New Jersey (5.28%), Illinois (4.73%), and Nebraska (4.67%) rounded out the top five. Eight states/districts posted annual declines (down from nine in September), with Florida falling furthest (-2.5%). Above that came Texas (-1.71%), Arizona (-0.89%), Colorado (-0.85%), and Hawaii (-0.82%).
On a month-over-month basis, Vermont properties saw the biggest boost, rising 1.06%. Behind that came Nebraska (0.9%), Indiana (0.82%), Washington, D.C. (0.81%), and New Mexico (0.7%). A total of 34 locales experienced monthly drops in October (up from 31 in September), with Montana’s 1.14% decrease topping the list. Following were Maine (-1.12%), New York (-0.97%), Washington (-0.84%), and Idaho (-0.79%).
“Looking ahead, regional differences will remain pronounced, with demand favoring areas that offer both economic opportunity and relative affordability,” Hepp said. “In general, home price growth is projected to remain below the long-running average of 4% to 5%. However, mortgage rates will play a critical role in shaping the 2026 housing market. A notable drop in mortgage rates combined with low supply could lead to a re-acceleration of price gains.”
The table below shows every state’s HPI changes for October 2025, according to Cotality:
| State | Month-Over-Month % | Year-Over-Year % | Forecasted Month-Over-Month % | Forecasted Year-Over-Year % |
| ALABAMA | -0.32% | 1.42% | 0.28% | 4.69% |
| ALASKA | -0.22% | 3.57% | 0.47% | 7.57% |
| ARIZONA | -0.05% | -0.89% | 0.15% | 3.87% |
| ARKANSAS | -0.46% | 2.48% | 0.17% | 3.83% |
| CALIFORNIA | -0.21% | -0.23% | -0.05% | 5.71% |
| COLORADO | -0.50% | -0.85% | -0.27% | 3.88% |
| CONNECTICUT | -0.31% | 6.17% | -0.03% | 4.40% |
| DELAWARE | 0.67% | 1.75% | 0.29% | 4.45% |
| DISTRICT OF COLUMBIA | 0.81% | -0.29% | 0.39% | 5.55% |
| FLORIDA | -0.22% | -2.50% | 0.09% | 5.43% |
| GEORGIA | 0.01% | 1.17% | 0.14% | 4.27% |
| HAWAII | -0.30% | -0.82% | 0.21% | 6.91% |
| IDAHO | -0.79% | 0.89% | -0.11% | 4.92% |
| ILLINOIS | -0.13% | 4.73% | -0.02% | 3.83% |
| INDIANA | 0.82% | 3.39% | 0.25% | 2.73% |
| IOWA | -0.18% | 2.45% | 0.12% | 4.42% |
| KANSAS | 0.22% | 3.35% | 0.02% | 3.51% |
| KENTUCKY | -0.41% | 3.55% | 0.13% | 3.95% |
| LOUISIANA | -0.09% | -0.17% | 0.26% | 4.09% |
| MAINE | -1.12% | 2.22% | -0.31% | 3.53% |
| MARYLAND | -0.17% | 1.14% | -0.04% | 4.58% |
| MASSACHUSETTS | 0.33% | 3.02% | 0.06% | 4.80% |
| MICHIGAN | -0.20% | 3.69% | -0.09% | 3.02% |
| MINNESOTA | -0.21% | 1.99% | -0.08% | 3.82% |
| MISSISSIPPI | 0.58% | 3.56% | 0.21% | 4.50% |
| MISSOURI | 0.22% | 3.31% | 0.11% | 3.78% |
| MONTANA | -1.14% | 1.41% | -0.06% | 4.75% |
| NEBRASKA | 0.90% | 4.67% | 0.31% | 3.81% |
| NEVADA | -0.14% | 0.20% | 0.03% | 4.27% |
| NEW HAMPSHIRE | -0.21% | 3.26% | 0.02% | 4.48% |
| NEW JERSEY | 0.55% | 5.28% | -0.18% | 3.21% |
| NEW MEXICO | 0.70% | 1.92% | 0.27% | 4.26% |
| NEW YORK | -0.97% | 2.16% | -0.35% | 4.52% |
| NORTH CAROLINA | -0.08% | 1.17% | 0.18% | 4.50% |
| NORTH DAKOTA | -0.73% | 3.18% | 0.00% | 4.53% |
| OHIO | -0.16% | 3.63% | -0.08% | 2.41% |
| OKLAHOMA | -0.13% | 2.09% | 0.10% | 3.63% |
| OREGON | -0.49% | 0.07% | 0.05% | 6.01% |
| PENNSYLVANIA | 0.27% | 4.29% | 0.00% | 3.10% |
| RHODE ISLAND | -0.25% | 3.50% | -0.16% | 3.21% |
| SOUTH CAROLINA | -0.31% | 1.99% | 0.22% | 4.64% |
| SOUTH DAKOTA | -0.28% | 3.64% | 0.14% | 4.92% |
| TENNESSEE | -0.11% | 1.70% | 0.35% | 5.07% |
| TEXAS | -0.53% | -1.71% | 0.01% | 3.55% |
| UTAH | 0.06% | 0.01% | 0.09% | 5.12% |
| VERMONT | 1.06% | 1.32% | 0.22% | 5.49% |
| VIRGINIA | 0.12% | 2.26% | 0.18% | 3.93% |
| WASHINGTON | -0.84% | 0.66% | -0.16% | 5.64% |
| WEST VIRGINIA | 0.08% | 3.93% | 0.22% | 4.46% |
| WISCONSIN | -0.40% | 4.31% | -0.14% | 3.19% |
| WYOMING | 0.29% | 7.27% | 0.32% | 4.63% |
Advice for home buyers
Whether you’re a buyer or seller, navigating the housing market and its prices can be challenging.
When you’re shopping for property, you should know what to look for, what advice to take, and how to negotiate before putting offers on a house. And you should always see what financial assistance you may qualify for.
If you’re ready to become a homeowner, reach out to a local mortgage lender and get started.
Time to make a move? Let us find the right mortgage for you
