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National home prices rose 0.2% year over year from June 2024 to June 2025, according to the Zillow Home Value Index reading published July 17—decelerated from the 3.2% year-over-year rate from June 2023 to June 2024.

And more metro-area housing markets are seeing declines:

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

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

—> 60........

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