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National home prices rose 0.01% year over year from September 2024 to September 2025, according to the Zillow Home Value Index reading published on October 16—decelerated from the 2.4% year-over-year rate from September 2023 to September 2024.

This year, the number of major metro-area housing markets seeing year-over-year declines has climbed.

—> 31 of the nation’s 300 largest housing markets (10% of markets) had a falling year-over-year reading from January 2024 to January 2025.

—> 42 of the nation’s 300 largest housing markets (14%) had a falling year-over-year reading from February 2024 to February 2025.

—> 60 of the nation’s 300 largest housing markets (20%) had a fa

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