National home price growth slowed to 0.1% from the second quarter to the third quarter of 2025 as gains in Midwest and Northeast markets were offset by softening across the South and West.

The latest Home Data Index (HDI) Market Report from Clear Capital, a real estate valuation and property analytics firm, highlights persistent divergence between regional U.S. housing markets.

“Home price appreciation has been slowing for months and has turned negative in a lot of the erstwhile hottest markets in the U.S., particularly in Florida and the West Coast,” commented Brent Nyitray, director of investor relations at Ark Mortgage, in Clear Capital’s press release.

On a quarterly basis, prices rose 1.3% in the Midwest and 1.1% in the Northeast while falling 0.6% in the South and 0.9% in the West.

“The Northeast and the Midwest continue to outperform, while the West and the South lag behind the rest of the U.S.,” Nyitray added.

Annual home price growth rose 2.2% nationally in the third quarter, remaining positive in all four major U.S. regions. Prices rose 4.6% in the Midwest, 5.6% in the Northeast, 0.4% in the South and 0.2% in the West.

Among metropolitan statistical areas tracked through the index, Cleveland, New York and Hartford, Conn., observed the largest annual home price appreciation in the third quarter, rising 8%, 6.7% and 6.5%, respectively.

The Florida cities of Tampa, Miami and Jacksonville saw the largest annual home price declines in the third quarter, sliding 3.9%, 3% and 1.8%, respectively.

The generate its home price report, Clear Capital includes fair market and foreclosure transactions, “giving equal weight to all market transactions,” the company says. Clear Capital also tracks “distressed saturation,” or the share of distressed properties on the market.

Among top metros, San Antonio (2.9%), Houston (2.2%), Honolulu (2.2%) and St. Louis (1.8%) had the highest distressed saturation in the third quarter.