Johnson Property Management LLC | Boise, ID | July 2025
The number of U.S. housing markets experiencing falling home prices has jumped significantly, rising to 110 of the 300 largest metro areas—up from just 31 in January. According to the Zillow Home Value Index, national home prices rose by only 0.2% year-over-year from June 2024 to June 2025, a substantial slowdown from the 3.2% increase observed between June 2023 and June 2024.This trend of price declines has steadily expanded throughout the year. In January, only 31 of the top 300 housing markets (10%) had year-over-year declines. That number rose to 42 in February (14%), 60 in March (20%), 80 in April (27%), 96 in May (32%), and has now reached 110 in June (36%). This progression reflects a clear shift in the market dynamic, as supply-demand imbalances increasingly tilt in favor of buyers amid affordability challenges and a cooling post-boom environment.
Despite these broader trends, regional differences are notable. Markets in the Northeast and Midwest, where housing inventory remains below pre-pandemic 2019 levels, continue to see price growth. In contrast, areas like Arizona, Texas, Florida, Colorado, and Louisiana—where inventory has surpassed 2019 levels—are experiencing mild price corrections.Significant year-over-year home value declines have been recorded in major metros such as Austin (-5.8%), Tampa (-5.7%), Miami (-3.8%), Dallas (-3.7%), Orlando (-3.7%), Phoenix (-3.5%), San Francisco (-3.4%), and San Antonio (-3.3%). Other notable markets seeing declines include Jacksonville (-3.2%), Atlanta (-2.9%), Denver (-2.7%), San Diego (-2.4%), and many more.ResiClub anticipates that this trend will continue through the second half of 2025, projecting that around 150 of the top 300 housing markets may ultimately experience year-over-year declines. This aligns with forecasts shared earlier this year and reflects the ongoing market softening, which ResiClub PRO members have been tracking in detail.
Still, it’s not all negative.
While 110 markets are seeing declines, 190 markets are still reporting year-over-year price gains. Locally, the Treasure Valley remains stable with a flat 0% year-over-year change, signaling continued resilience in the Idaho housing market.
Johnson Property Management: Here to Help
At Johnson Property Management, we provide full-service rental management throughout Boise, Meridian, Eagle, Nampa, and beyond. Whether you’re looking to rent out a single-family home, a duplex, or a multi-unit complex, we’re here to help you navigate this evolving market with confidence and clarity.
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Johnson Property Management, LLC
