54 major housing markets with falling home prices

Want more housing market stories from Lance Lambert’s ResiClub in your inbox? Subscribe to the ResiClub newsletter. Based on ResiClub’s analysis of the Zillow Home Value Index, nationally aggregated U.S. home prices are up +1.3% year-over-year between August 2025 and August 2026. That year-over-year nationally aggregated pace remains “soft”; however, it’s up a tad from this time last year—back at the end of August 2025, when the national year-over-year home price shift rate was -0.01%. 6 of the nation’s 300 largest housing markets (i.e., 2% of markets) had a falling year-over-year reading in the August 2017 to August 2018 window. 12 of the nation’s 300 largest housing markets (i.e., 4% of markets) had a falling year-over-year reading in the August 2018 to August 2019 window. 2 of the nation’s 300 largest housing markets (i.e.,