Reading:Houston-The Woodlands-Sugar Land Home Prices Up 1.3% Year Over Year in March, According to First American Data & Analytics Monthly Home Price Index Report
Houston-The Woodlands-Sugar Land Home Prices Up 1.3% Year Over Year in March, According to First American Data & Analytics Monthly Home Price Index Report
National House Price Growth Hits a New 13-Year Low
—Cities with the steepest surges in supply saw prices slip the most, says Chief Economist Mark Fleming—
SANTA ANA, Calif., May 01, 2025–(BUSINESS WIRE)–First American Data & Analytics, a leading national provider of property-centric information, risk management and valuation solutions and a division of First American Financial Corporation (NYSE: FAF), today released its March 2025 Home Price Index (HPI) report. The report tracks home price changes less than four weeks behind real time at the national, state and metropolitan (Core-Based Statistical Area) levels and includes metropolitan price tiers that segment sale transactions into starter, mid and luxury tiers. The full report can be found here.
March1Home Price Index
Houston-The Woodlands-Sugar Land Market
Metric
Change in HPI
February 2025-March 2025 (month over month)
+0.5 percent
March 2024-March 2025 (year over year)
+1.3 percent
National HPI
Metric
Change in HPI
February 2025-March 2025 (month over month)
+0.5 percent
March 2024-March 2025 (year over year)
+1.8 percent
Chief Economist National HPI Analysis:
“National house price growth slipped below 2 percent for the first time since 2012, amid strained affordability and heightened economic uncertainty. Wary potential home buyers are adopting a ‘wait-and-see’ approach, curbing demand while inventory continues to drift higher,” said Mark Fleming, chief economist at First American. “One silver lining – household income growth is now outpacing house price appreciation, allowing potential buyers’ incomes to narrow some of the affordability gap, if mortgage rates hold steady.”
Year-Over-Year Price-Tier Data for the Houston-The Woodlands-Sugar Land Metro Area: March 2024 to March 2025
The First American Data & Analytics HPI segments home price changes at the metropolitan level into three price tiers based on local market sales data: starter tier, which represents home sales prices at the bottom third of the market price distribution; mid-tier, which represents home sales prices in the middle third of the market price distribution; and the luxury tier, which represents home sales prices in the top third of the market price distribution.
CBSA
Starter
Mid-Tier
Luxury
Houston-The Woodlands-Sugar Land
+0.5%
+2.0%
+2.7%
“House prices declined year over year in nine of the top 30 markets we track, with all nine located in the South or West,” said Fleming. “Notably, markets with some of the steepest increases in annual inventory levels, such as Denver and Orlando, Fla., have the deepest price declines. Conversely, house price appreciation remains strong in the Northeast and Midwest, where inventory has lagged behind.”
March 2025 First American Data & Analytics Price Tier HPI Highlights
Core-Based Statistical Areas (CBSAs) Ranked by Greatest Year-Over-Year Increases in Starter Tier HPI
CBSA
Change in Starter
Tier HPI
Change in Mid-Tier
HPI
Change in Luxury
Tier HPI
Baltimore
+13.0 percent
+4.8 percent
+5.5 percent
Pittsburgh
+11.0 percent
+4.7 percent
+7.5 percent
Nassau County, N.Y.
+10.6 percent
+9.8 percent
+11.4 percent
Warren, Mich.
+7.9 percent
+5.5 percent
+5.5 percent
St. Louis
+7.2 percent
+0.4 percent
+2.2 percent
Additional March 2025 First American Data & Analytics HPI Highlights
Core-Based Statistical Areas (CBSAs) with Greatest Year-Over-Year Increases in HPI
CBSA
Change in HPI
Nassau County, N.Y.
+6.5 percent
Cambridge, Mass.
+4.8 percent
Warren, Mich.
+4.8 percent
Pittsburgh
+4.8 percent
Baltimore
+4.1 percent
Core-Based Statistical Areas (CBSAs) with a Year-Over-Year Decrease in HPI
Tampa, Fla.
-4.8 percent
Oakland, Calif.
-4.5 percent
Orlando, Fla.
-1.8 percent
Denver
-1.5 percent
Austin, Texas
-1.0 percent
HPI data for all 50 states and the largest 30 CBSAs by population is available here.
The next release of the First American Data & Analytics House Price Index will take place the week of May 19, 2025.
First American Data & Analytics HPI Methodology
The First American Data & Analytics HPI report measures single-family home prices, including distressed sales, with indices updated monthly beginning in 1980 through the month of the current report. HPI data is provided at the national, state and CBSA levels and includes preliminary index estimates for the month prior to the report (i.e. the preliminary result of July transactions is reported in August). The most recent index results are subject to revision as data from more transactions become available.
The HPI uses a repeat-sales methodology, which measures price changes for the same property over time using more than 46 million paired transactions to generate the indices. In non-disclosure states, the HPI utilizes a combination of public sales records, MLS sold and active listings, and appraisal data to estimate house prices. This comprehensive approach is particularly effective in areas where there is limited availability of accurate sale prices, such as non-disclosure states. Property type, price and location data are used to create more refined market segment indices. Real Estate-Owned transactions are not included.
First American Data & Analytics, a division of First American Financial Corporation, is a national provider of property-centric information, risk management and valuation solutions. First American maintains and curates the industry’s largest property and ownership dataset that includes more than 8.6 billion document images. Its major platforms and products include: DataTree®, FraudGuard®, RegsData®, First American TaxSource™ and ACI®. Find out more about how First American Data & Analytics powers the real estate, mortgage and title settlement services industries with advanced decisioning solutions at www.FirstAmDNA.com.
About First American
First American Financial Corporation (NYSE: FAF) is a premier provider of title, settlement and risk solutions for real estate transactions. With its combination of financial strength and stability built over more than 135 years, innovative proprietary technologies, and unmatched data assets, the company is leading the digital transformation of its industry. First American also provides data products to the title industry and other third parties; valuation products and services; mortgage subservicing; home warranty products; banking, trust and wealth management services; and other related products and services. With total revenue of $6.1 billion in 2024, the company offers its products and services directly and through its agents throughout the United States and abroad. In 2025, First American was named one of the 100 Best Companies to Work For by Great Place to Work® and Fortune Magazine for the tenth consecutive year. The company was named one of the 100 Best Workplaces for Innovators by Fast Company for the second consecutive year in 2024. More information about the company can be found at www.firstam.com.
1 The most recent index results are subject to revision as data from more transactions become available.
