본문 내용으로 건더뛰기

KDI 경제교육·정보센터

ENG
  • 경제배움
  • Economic

    Information

    and Education

    Center

최신자료
National Home Price Appreciation (HPA) Index―April 2025
AEI
2025.05.21
National YoY HPA for April 2025 was 3.0%, up from 2.9% a month ago and down from 4.5% a year ago & 4.6% in April 2019.

Historically, HPA in the low price tier has outpaced HPA in the upper price tiers.

Compared to a year ago, the rate of YoY HPA dropped for every price tier and especially for low tier.
YoY HPA varied significantly among the 60 largest metros. It ranged from -10.0% in Cape Coral (-12.3% inflation-adjusted) to +7.8% (5.5% inflation-adjusted) in Louisville. Cape Coral has replaced Austin as the metro with the largest HPA drop since its peak in May 2022, with a cumulative decline of 13.2%.

In line with seasonal trends (2017-2019), April 2025 housing inventory rose from March, increasing by 4.0% Month-over-Month (MoM). Listings were up 19.8% from April 2024, and it is projected to rise further in May.

Compared to March 2025, months’ remaining supply in April 2025 dropped across all price tiers.

56 of the 60 largest metros experienced a seller’s market (months’ supply < 7 mo.) of varying intensities in April 2025. The metros with over 7 months of supply were all located in the South: Cape Coral, North Port, and Miami, FL, as well as Myrtle Beach, SC.