Home prices in the U.S. rose by 3.4% year-over-year in December 2024, with a slight month-over-month increase of 0.03%. The CoreLogic forecast predicts a 0.2% drop in prices from December 2024 to January 2025, followed by a 4.1% increase by December 2025. Despite improved housing supply, buyer demand remains low, affecting price growth. The median sales price for single-family homes reached $390,000. Certain markets, like Provo-Orem, UT, face a high risk of price declines in the coming year.
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