US Home Prices Up 1.3% Year-Over-Year in August

U.S. home prices increased by 1.3% year-over-year as of August 2026, according to an analysis of the Zillow Home Value Index. This marks an acceleration from the -0.01% year-over-year shift recorded in August 2025.

The national trend of price softening has lost momentum over the past 12 months, settling into a low-appreciation market. However, recent increases in long-term yields and mortgage rates may influence future momentum.

Regional variations persist. Markets in Texas, Florida, and Colorado, which have seen inventory rise above pre-pandemic levels, are experiencing mild price corrections. Conversely, tight inventory markets in parts of the Northeast and Midwest remain resilient, with prices showing upward movement. San Francisco has seen notable price increases, partly driven by the artificial intelligence sector.

The data, covering 50 of the largest U.S. metro housing markets, reveals a varied landscape. Factors such as local income levels, new construction rates, and migration patterns continue to play a significant role in individual market performance.