Homes.com Report: National home price appreciation strengthens in November
Despite higher prices, lower mortgage rates and a wider selection should boost homebuying activity
Homes.com, a CoStar Group leading online residential marketplace, released a new report today analyzing home price trends in November, including details across major metros and house types.
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National Key Indicators For November
Price data collected to date showed moderate home price appreciation in November, with the nationwide median rising 2.4% compared to the same month last year. The median sale price of $385,000 was up $9,120 from November 2024 and continued a 10-month stretch of median prices between $375,000 and $395,000.
Homeownership affordability has increased slightly in recent months, thanks to continued income growth and a decline in mortgage interest rates of about 0.7 percentage points since their recent high in late May. On the supply side, the inventory of homes available for purchase rose 17.9% year over year to the highest November level since 2015, signaling an improved market balance between supply and demand.
"The market has shifted from one in which opportunistic sellers hoped to take advantage of scant supply to one in which sellers and buyers are finding common ground," said Brad Case, Chief Residential Economist for Homes.com. "Wider inventory is giving buyers a better opportunity to find the right home. Continued price appreciation, at a time in which interest rates have been easing, gives homebuyers confidence that they can clear the affordability barrier."
The Midwest region continued to outpace other parts of the country with Cleveland (11.6%), Cincinnati (10.0%), Pittsburgh (8.7%), and Saint Louis (7.5%) leading all other large markets. Thirteen large markets showed price declines, with the median price in Jacksonville, Florida dropping by 4.1% from a year earlier. Across the nearly 1,000 markets tracked by Homes.com, however, nearly 65% showed price appreciation over the past year.
The data shared in this report could change slightly as additional home sales are recorded. Brad Case, Chief Residential Economist, is available for interviews to provide insights on the data and the residential real estate market in general. For more information and insights on the latest home buying and selling market trends, visit Homes.com.
About Homes.com
Homes.com is the fastest-growing residential real estate marketplace and the second largest portal in the United States. Homes.com is a brand of CoStar Group (NASDAQ:CSGP), a global leader in commercial real estate information, analytics, and online marketplaces, which acquired the platform in 2021.
Homes.com is the first major U.S. real estate portal to focus first on helping homeowners and their agents leverage the marketing power of the internet to bring more potential buyers to their listings. Homes.com's unparalleled content and search capabilities bring millions of buyers and sellers to the site where they can seamlessly connect with agents. On average, Homes.com's Members are winning 60% more listings* because they offer the home sellers a real estate portal that works for them not against them.
The Homes.com Network reached an audience of 115 million average monthly unique visitors in the third quarter ending September 30, 2025.** Consumer brand awareness skyrocketed from 4% to 33% in just one year since CoStar Group launched the industry's largest marketing campaign to date in February 2024, reintroducing the platform to the market. For more information, visit Homes.com.
*Based on internal analyses comparing Members to non-Members on Homes.com.
** Homes.com Network (which includes Homes.com, the Apartments Network, and the Land Network) average monthly unique visitors for the quarter ended September 30, 2025, according to Google Analytics.
About CoStar Group
CoStar Group (NASDAQ:CSGP) is a global leader in commercial real estate information, analytics, online marketplaces, and 3D digital twin technology. Founded in 1986, CoStar Group is dedicated to digitizing the world's real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives.
CoStar Group's major brands include CoStar, a leading global provider of commercial real estate data, analytics, and news; LoopNet, the most trafficked commercial real estate marketplace; Apartments.com, the leading platform for apartment rentals; Homes.com, the fastest-growing residential real estate marketplace; and Domain, one of Australia's leading property marketplaces. CoStar Group's industry-leading brands also include Matterport, a leading spatial data company whose platform turns buildings into data to make every space more valuable and accessible, STR, a global leader in hospitality data and benchmarking; Ten-X, an online platform for commercial real estate auctions and negotiated bids; and OnTheMarket, a leading residential property portal in the United Kingdom.
CoStar Group's websites attracted over 143 million average monthly unique visitors in the third quarter of 2025, serving clients around the world. Headquartered in Arlington, Virginia, CoStar Group is committed to transforming the real estate industry through innovative technology and comprehensive market intelligence. From time to time, we plan to utilize our corporate website as a channel of distribution for material company information. For more information, visit CoStarGroup.com.
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For media interviews, photos or onsite access please contact:
Matt Blocher
CoStar Group
[email protected]
202- 346-6775