First American Financial Corporation has released its latest Home Price Index $(HPI)$ report for July 2025, indicating a 4.4% year-over-year increase in home prices in the New York-Jersey City-White Plains metro area. The national housing market is showing signs of cooling, with home price growth slowing for the eighth consecutive month, now just 0.3% below its recent peak in May. Chief Economist Mark Fleming attributes this to rising inventory and buyer hesitation, suggesting that this trend may improve affordability as incomes potentially outpace price growth. The report segments price changes into starter, mid, and luxury tiers, with Pittsburgh leading in year-over-year increases in the starter tier at 8.7%. The HPI uses a comprehensive repeat-sales methodology, incorporating more than 46 million paired transactions, to provide insights into the housing market's dynamics at national, state, and metropolitan levels.