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Are you a real estate agent?

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Zillow just revised its home price forecast for over 400 housing markets

Heading into 2025, Zillow’s 12-month forecast for U.S. home prices was +2.6%. However, many housing markets across the country softened faster than it expected this spring, prompting Zillow to issue several downward revisions. By April 2025, Zillow had cut its 12-month national home price outlook to -1.7%.

In late spring, Zillow stopped issuing downward revisions. In August, it revised its 12-month outlook to +0.4%. In September, the forecast increased to +1.2%, and in October Zillow upgraded its 12-month national home price forecast to +1.9%.

Zillow economists just published their updated 12-month forecast, projecting that U.S. home prices—as measured by the Zillow Home Value Index—will rise +1.5% between October 2025 and October 2026.

While Zillow’s national home price forecast is no longer negative—it isn’t exactly bullish either.

Click here to view an interactive version of the map below

Among the 300 largest U.S. metro area housing markets, Zillow expects the biggest home price increase between October 2025 and October 2026 to occur in these 15 metros:

1. Atlantic City, NJ → +5.3% 

2. Rockford, IL →  +4.8% 

3. Concord, NH →  +4.6% 

4. Knoxville, TN → +4.3% 

5. Saginaw, MI →  +4.3% 

6. Jacksonville, NC → +4.2% 

7. Kingston, NY →  +4.2% 

8. Fayetteville, AR →  +4.1% 

9. Green Bay, WI →  +4.1% 

10. Torrington, CT → +4.1% 

11. New Haven, CT → +4.0% 

12. Hartford, CT → +3.9% 

13. Hilton Head Island, SC → +3.9% 

14. Manchester, NH → +3.8%

15. Norwich, CT → +3.8%

Among the 300 largest U.S. metro area housing markets, Zillow expects the biggest home price decline between October 2025 and October 2026 to occur in these 15 metros:

1. Houma, LA → -7.8% 

2. Lake Charles, LA → -7.3% 

3. New Orleans, LA → -4.7% 

4. Shreveport, LA → -4.3% 

5. Lafayette, LA → -4.2% 

6. Beaumont, TX → -4.0%

7. Alexandria, LA → -3.9% 

8. Odessa, TX → -3.0%

9. Monroe, LA → -2.7% 

10. Punta Gorda, FL → -2.7% 

11. Austin, TX → -2.6% 

12. Chico, CA → -2.5% 

13. Corpus Christi, TX → -2.4% 

14. San Francisco, CA → -2.2% 

15. Texarkana, TX → -2.2%

U.S. home prices, as measured by the Zillow Home Value Index, are currently up +0.1% year over year. If Zillow’s latest 12-month outlook (+1.5%) comes to fruition, it would represent a small acceleration nationally.

Below is what the current year-over-year rate of home price growth looks like for single-family and condo home prices. The Sun Belt, in particular Southwest Florida, is currently the epicenter of housing market weakness right now. 

Click here to view an interactive version of the map below

“A year ago, 6 of the nation’s 50 largest metros were buyers markets; this September, buyers have the edge in 15 metros. Zillow’s market heat index shows the strongest buyer’s markets are Miami, New Orleans, Austin, Jacksonville.. That’s due, in large part, to a surge of new construction in many of those areas in recent years. The hottest markets for sellers are in the Northeast and Bay Area: Buffalo, Hartford, San Jose, San Francisco and New York—places where builders face some of the most stringent land use restrictions,” wrote Kara Ng, a senior economist at Zillow, in a report recently published by Zillow. 

Assumable mortgages are a pathway to unlocking the housing market, argues Roam CEO Raunaq Singh

Speaking at ResiDay 2025 earlier this month, Roam CEO Raunaq Singh laid out why he thinks assumable mortgage transactions could accelerate in 2026.

Watch Singh’s full ResiDay 2025 interview here.