ResiClub PRO report
On August 16th, we updated the ResiClub Terminal with the newly published end-of-August 2026 final pricing data. We also updated the Lance Lambert House Price Tracker spreadsheet with the latest home price data/analysis. For today's report, we're looking at home prices including both single-family homes and condos. In the ResiClub Terminal, local home price data can be segmented to show either single-family homes or condos separately. 🏠📊
ResiClub has been on a slower publishing cadence as we prepare to roll out some robust research projects for you and as we prepare for ResiDay 2026 on Friday, November 6, in NYC. Regular admission tickets after October 1st are $399. ResiClub members get 62% off the final price (just use the code: RESIMEMBER2). Some of our top speakers this year include QXO CEO Brad Jacobs and KB Home’s new CEO KB Home CEO Rob McGibney. If you have any questions about ResiDay 2026, email [email protected].
U.S. home prices, as measured by the Zillow Home Value Index, fell -0.1% month-over-month between July 2026 and August 2026. From a historical perspective, that [-0.1%] print is softer than normal for this time of year. Historically speaking, July to August has averaged a +0.4% month-over-month shift since 2000. We’re at the start of the seasonally soft reporting window.
The table below helps you to see that seasonal effect.
According to our analysis of the Zillow Home Value Index, U.S. home prices are up +1.3% year-over-year between August 2025 and August 2026. That year-over-year pace is up a tad from a year ago—back in August 2025, when the national year-over-year home price shift rate was -0.01%.
The pace of softening has lost momentum over the past 12 months—and has, on a nationally aggregated basis, stabilized into a soft and low-appreciation market. That said, given the recent jump in long-term yields and mortgage rates, we'll have to watch how much momentum that softening regains in the coming months..
Click here for an interactive of the year-over-year chart below
On a regional and local level, there’s variation.
Some regional housing markets in states, such as Texas, Florida, and Colorado, where inventory has risen above pre-pandemic 2019 levels, are experiencing mild home price corrections.
While tight-ish inventory markets in some pockets of the Northeast and Midwest remain resilient-ish, with home prices likely pushing up a little this year.
Click here for an interactive version of the year-over-year metro map below
In the side-by-side maps below, you can see how current year-over-year rates of change compare with those from a year ago.
LEFT: YoY change in metro area home prices between August 2024 to August 2025 (i.e. a year ago)
As ResiClub has closely documented, Southwest Florida has been one of the epicenters of housing market softness/weakness over the past four years. While some pockets of SWFL are still mildly in correction-mode and prices there are notably below their 2022 peak—in particular in Punta Gorda and Cape Coral—we should note that some pockets of Southwest Florida seeing year-over-year declines in active inventory for sale and the weakening/correction is losing momentum in SWFL. For evidence, just look at the side-by-side above above.
Click here to view an interactive version of the year-over-year county map below
Click here to view an interactive version of the year-over-year ZIP Code map below [For a better user experience, view the ZIP Code data in the ResiClub Terminal]
When looking through our interactive charts and maps, you’ll find some deeper cuts—like “since March 2020” and “shift since 2022 peak.” Those cuts are meant to help put into perspective what is occurring and has occurred.
MoM = Month-over-month (July 2026 to August 2026)
YoY = Year-over-year (August 2025 to August 2026)
Note: The period from July to August falls into the period when the nationally aggregated housing market is entering the seasonally softer window.
Click here to view a searchable version of the chart below showing the 800 largest metro/micro area housing markets
In August 2018, 0 of the nation's 50 largest metro area housing markets (0%) had falling year-over-year home prices.
In August 2019, 3 of the nation's 50 largest metro area housing markets (6%) had falling year-over-year home prices.
In August 2020, 0 of the nation's 50 largest metro area housing markets (0%) had falling year-over-year home prices.
In August 2021, 0 of the nation's 50 largest metro area housing markets (0%) had falling year-over-year home prices.
In August 2022, 0 of the nation's 50 largest metro area housing markets (0%) had falling year-over-year home prices.
In August 2023, 21 of the nation's 50 largest metro area housing markets (42%) had falling year-over-year home prices.
In August 2024, 6 of the nation's 50 largest metro area housing markets (12%) had falling year-over-year home prices.
In August 2025, 25 of the nation's 50 largest metro area housing markets (50%) had falling year-over-year home prices.
In August 2026, 15 of the nation's 50 largest metro area housing markets (30%) had falling year-over-year home prices.
As we’ve discussed at ResiClub throughout the year, the intensity of Florida’s housing market correction is easing across many pockets of the state.
Look no further than the Tampa, FL, metro area, where home prices fell -6.5% between August 2024 and August 2025. While there’s still softness in the Tampa metro market, its year-over-year decline between August 2025 and August 2026 came in at just -0.6%.
The next three maps below compare current home prices to their local peak in 2022, at the height of the Pandemic Housing Boom. Some markets have risen further, some remain flat, and others have declined.
Click here for an interactive version of the “shift since 2022 peak” metro map
Click here to view an interactive version of the “shift since 2022 peak” county map
Click here to view an interactive version of “the shift since June 2022” ZIP Code map. [For an interactive user experience, it’s better to view the ZIP Code cuts in the ResiClub Terminal]
Click here to view an interactive version of shift since March 2020 ZIP Code map below [For a better user experience, view the ZIP Code data in the ResiClub Terminal]
The analysis above uses the Zillow Home Value Index (ZHVI), which measures the typical home value and market changes across a given region in the 35th to 65th percentile range. In other words, this analysis looks at prices in the middle of the market—not the bottom or top. Within markets, pricing shifts will always vary by neighborhood, price tier, and home type. This data includes single-family homes and condos.
The Lance Lambert House Price Tracker also includes analysis of metro area home prices from the Freddie Mac House Price Index.