Home Prices Fell More Than Expected in April
By: Mortgage News Daily | Published: 2025-06-24 19:00:00 | Source: www.mortgagenewsdaily.com
Both the FHFA and Case‑Shiller home price indices were released today. While the data collection time frame is from April, they each suggest a similar shift is underway when adjusting for seasonality. Specifically, if we ignore seasonality, prices rose. If we don’t, they were down 0.4% from March.
FHFA House Price Index (seasonally adjusted, MoM)
Monthly figures varied regionally: the West South Central and South Atlantic divisions posted the steepest falls (−1.3%), while the Middle Atlantic rose +1.2%. All nine divisions remain positive YoY (ranging from +0.5% to +7.4%).
The 0.4% drop is in line with slower spring momentum—not drastic, but a continued cooling from prior gains. The upward revision in March helps to offset April’s declines to some extent.
