U.S. Annual House Price Growth Holds Near 1 Percent for Third Straight Month, According to First American Data & Analytics Monthly Home Price Index Report

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—Prices are falling in some markets with elevated inventory levels, such as Austin, while prices are strengthening in supply-constrained markets like Chicago, says Chief Economist Mark Fleming— SANTA ANA, Calif., August 17, 2026--(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 July 2026 Home Price Index (HPI) report, finding U.S. home prices nationally increased 1.0 percent year over year. 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. July1 National House Price Index Highlights "Annual house price appreciation nationally held at approximately 1 percent in July, the third consecutive month at roughly this pace, as housing supply and demand remain locked near a stalemate," said Mark Fleming, chief economist at First American. "The strong inventory gains from earlier this year have largely leveled off, while affordability challenges continue to limit demand. For now, neither buyers nor sellers have enough leverage to break the stalemate to push prices decisively higher or lower." July 2026 Local Market Price Tier Highlights 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. "The national picture may be one of roughly flat house prices, but price trends in local markets vary significantly based on supply and demand dynamics," said Fleming. "In markets such as Austin, Texas, inventory remains elevated and prices continue to decline, even as inventory growth has recently turned negative. Chicago is nearly the mirror image: inventory remains constrained and prices are rising, even as inventory gradually improves. Whether pric...

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