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 3.3% year-over-year in January, according to CoreLogic. But that ranged by almost 12 percentage points around the country.
See which states saw the largest and smallest home price growth.
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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 rose 3.3% annually in January, according to CoreLogic’s Home Price Index (HPI). Additionally, prices inched up 0.04% month-over-month.
“Flattening home price changes over the last six months suggest further price deceleration is ahead. More importantly, compressed monthly changes highlight the general lack of home buying demand that continues to characterize the current housing market,” said Selma Hepp, chief economist at CoreLogic.
“While this year’s cold winter and large natural disasters play a role in dampening demand, falling consumer sentiment suggests potential home buyers are wary of the short-term economic outlook and future inflation. Nevertheless, with the spring home buying season upon us, the recent improvements in mortgage rates may help invite home buyers back into the market.”
CoreLogic forecast prices to hold from January to February and a 3.6% bump by January 2026.
At the state level, Connecticut led the nation with an 8.55% annual gain. Rhode Island (7.65%) and New Hampshire (7.53%) came next, with New Jersey (7.12%) and New York (6.78%) rounding out the top five. Hawaii (-4.37%) had the lowest yearly growth and only state to go negative. Above that, came modest increases in Washington, D.C. (0.1%), Florida (0.25%), Louisiana (1.07%), and Texas (1.18%).
On a month-over-month basis, Wyoming properties saw the biggest boost (1.26%). Next were Mississippi (1.06%), Arkansas (0.78%), Delaware (0.51%), and Rhode Island (0.47%). A total of 27 states experienced monthly declines in January. Montana (-1.24%) led the list of drops, followed by Vermont (-1%), North Dakota (-0.92%), Minnesota (-0.88%), and Utah (-0.77%).
The table below shows every state’s HPI changes for January 2025, according to CoreLogic:
| State | Month-Over-Month % | Year-Over-Year % | Forecasted Month-Over-Month % | Forecasted Year-Over-Year % |
| ALABAMA | -0.35% | 2.95% | 0.05% | 3.94% |
| ALASKA | 0.37% | 4.46% | 0.57% | 7.25% |
| ARIZONA | 0.12% | 2.85% | 0.14% | 2.69% |
| ARKANSAS | 0.78% | 5.52% | 0.17% | 3.09% |
| CALIFORNIA | 0.36% | 3.50% | -0.01% | 4.87% |
| COLORADO | -0.15% | 2.02% | 0.06% | 5.44% |
| CONNECTICUT | 0.33% | 8.55% | 0.03% | 4.73% |
| DELAWARE | 0.51% | 4.25% | 0.22% | 3.74% |
| DISTRICT OF COLUMBIA | -0.38% | 0.10% | -0.01% | 4.02% |
| FLORIDA | 0.04% | 0.25% | -0.01% | 4.59% |
| GEORGIA | 0.19% | 3.62% | 0.10% | 3.28% |
| HAWAII | 0.26% | -4.37% | 0.32% | 6.21% |
| IDAHO | -0.74% | 3.60% | 0.05% | 5.47% |
| ILLINOIS | 0.30% | 6.35% | 0.06% | 3.38% |
| INDIANA | -0.06% | 4.37% | 0.05% | 2.11% |
| IOWA | -0.72% | 3.24% | 0.08% | 3.92% |
| KANSAS | -0.13% | 3.17% | 0.04% | 3.47% |
| KENTUCKY | 0.16% | 5.18% | 0.11% | 3.57% |
| LOUISIANA | -0.62% | 1.07% | 0.06% | 3.74% |
| MAINE | 0.00% | 6.22% | -0.11% | 4.47% |
| MARYLAND | 0.03% | 3.81% | 0.01% | 3.57% |
| MASSACHUSETTS | 0.36% | 5.61% | 0.09% | 4.44% |
| MICHIGAN | -0.36% | 4.60% | -0.09% | 3.24% |
| MINNESOTA | -0.88% | 2.93% | -0.28% | 3.06% |
| MISSISSIPPI | 1.06% | 1.70% | 0.30% | 4.00% |
| MISSOURI | 0.13% | 5.43% | -0.01% | 2.95% |
| MONTANA | -1.24% | 3.18% | 0.38% | 5.40% |
| NEBRASKA | 0.04% | 4.02% | 0.11% | 3.08% |
| NEVADA | -0.09% | 5.15% | 0.05% | 3.18% |
| NEW HAMPSHIRE | -0.31% | 7.53% | -0.01% | 5.03% |
| NEW JERSEY | -0.08% | 7.12% | -0.11% | 2.27% |
| NEW MEXICO | -0.75% | 4.46% | -0.11% | 3.72% |
| NEW YORK | -0.70% | 6.78% | -0.31% | 2.41% |
| NORTH CAROLINA | -0.31% | 3.54% | -0.06% | 3.46% |
| NORTH DAKOTA | -0.92% | 4.42% | 0.00% | 4.30% |
| OHIO | -0.05% | 5.38% | -0.08% | 2.43% |
| OKLAHOMA | -0.09% | 2.42% | 0.08% | 2.48% |
| OREGON | -0.14% | 2.20% | 0.12% | 5.74% |
| PENNSYLVANIA | 0.45% | 5.18% | 0.16% | 3.05% |
| RHODE ISLAND | 0.47% | 7.65% | 0.03% | 3.80% |
| SOUTH CAROLINA | 0.22% | 4.22% | 0.11% | 4.01% |
| SOUTH DAKOTA | -0.63% | 4.39% | 0.13% | 4.08% |
| TENNESSEE | -0.30% | 3.54% | 0.07% | 3.70% |
| TEXAS | -0.41% | 1.18% | -0.06% | 2.21% |
| UTAH | -0.77% | 2.33% | 0.02% | 5.47% |
| VERMONT | -1.00% | 6.01% | 0.04% | 5.02% |
| VIRGINIA | 0.22% | 5.36% | 0.04% | 3.12% |
| WASHINGTON | 0.22% | 4.01% | 0.24% | 5.54% |
| WEST VIRGINIA | 0.17% | 6.74% | 0.20% | 3.99% |
| WISCONSIN | -0.53% | 6.28% | -0.16% | 2.56% |
| WYOMING | 1.26% | 6.25% | 0.21% | 5.28% |
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.
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