64 major housing markets where home prices are falling

Want more housing market stories from Lance Lambert’s ResiClub in your inbox? Subscribe to the ResiClub newsletter. Based on our analysis of the Zillow Home Value Index, nationally aggregated U.S. home prices are up +1.1% year-over-year between July 2025 and July 2026. That year-over-year pace is up a tad from this time last year—back in July 2025, when the national year-over-year home price growth rate was +0.2%. And it’s up slightly from the recent year-over-year low of -0.01% in August 2025. 4 of the nation’s 300 largest housing markets (i.e., 1% of markets) had a falling year-over-year reading in the July 2017 to July 2018 window. 13 of the nation’s 300 largest housing markets (i.e., 4% of markets) had a falling year-over-year reading in the July 2018 to July 2019 window. 1 of the nation’s 300 largest housing markets (i.e.,