First American Financial Corporation's Data & Analytics division released its July 2025 Home Price Index report, highlighting a cooling national housing market. According to Chief Economist Mark Fleming, rising inventory and buyer hesitation have tempered price growth, with national home prices just 0.3 percent below their peak in May. This trend offers a potential for incomes to outpace price growth, potentially improving affordability for buyers. Year-over-year, the Houston-The Woodlands-Sugar Land metro area saw a 0.6 percent decline in home prices. The report, which tracks home price changes at various levels and segments, indicates a steady shift from the pandemic-era market characterized by record-low mortgage rates. Among metropolitan areas, Pittsburgh saw the greatest year-over-year increase in its starter tier HPI, with a rise of 8.7 percent, while the overall HPI grew by 4.9 percent. This analysis suggests a transition in market dynamics, offering insights into the evolving real estate landscape.