Homes.com Report: National home price appreciation strengthens in November

ARLINGTON, Va.--(BUSINESS WIRE)--Dec 11, 2025--

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.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251211448706/en/

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.

Key Indicators by Housing Type

Year-Over-Year Change in Sales Price

Total Sales in November

Sales Price in November

Annual Change in Sale Price

National Key Indicators For November

ANN ARBOR, Mich. (AP) — Michigan has quite a mess on its hands.

The storied football program is yet again reeling from scandal, this time with once-promising coach Sherrone Moore at the center of it.

Moore spent Wednesday night in jail after being fired earlier in the day for what the school said was an inappropriate relationship with a staff member. His ensuing arrest was related to an assault investigation, for which Moore is scheduled to be arraigned on Friday.

The development has left college football's winningest school suddenly searching for a new coach — again.

“I’m so disappointed,” former Michigan defensive end Larry Stevens told The Associated Press on Thursday. “This prestigious university and everything we’ve done through the years for Michigan, you just don’t jeopardize that. I can’t wrap my head around this."

A snapshot of recent history might show great success for the program that has bested its archrival, Ohio State, and declares itself the “The Victors,” a fitting moniker for the 2023 season's national champions. Underneath those feats, however, there's been multiple scandals the school will have to contend with as it courts its next coach.

“Everybody who knew has to go because how many times do we want to be on SportsCenter for scandals?" Stevens, who played for coach Lloyd Carr from 2000-2003, asked in a telephone interview. "What we built, who we are, our legacy, how we’re viewed in the world, that matters to Michigan men. These activities turn us into the laughingstock of college football.”

The NCAA put Michigan's football program on probation less than four months ago, stemming from a sign-stealing scandal, and Manuel has said penalties will cost the department more than $30 million.

Matt Weiss, who previously shared offensive coordinator duties with Moore at Michigan, was charged with hacking into the computer accounts of thousands of college athletes to find intimate images. A judge entered a not-guilty plea for the former Baltimore Ravens and Michigan assistant coach earlier this year.

And now, the Wolverines are scrambling to find a new leader for their shaken football team while navigating the fallout from firing Moore.

Michigan will be looking for a third coach in four years, shortly after a busy cycle that included Lane Kiffin leaving playoff-bound Mississippi for LSU.

Moore led the 18th-ranked Wolverines to a 9-3 record this year after going 8-5 in his debut season.

The 39-year-old Moore, who is married with three young daughters, did not return a message from The Associated Press seeking comment before he was taken into custody.

“I’m sad for all the families involved,” former Michigan athletic director Bill Martin said in a telephone interview.

Without a coach in place for next season, the team may lose players in the transfer portal this winter and donors who help fund revenue-sharing and NIL deals may hesitate to invest in the once-proud program.

While former coach Jim Harbaugh, who was penalized by the NCAA for rules violations, did lead the Wolverines to that 2023 national championship — their first since 1997 — they are not far removed from some lackluster years.

Harbaugh started 0-5 against Ohio State as coach of the school he once led as a quarterback. The program crumbled following Carr's retirement in 2007 under Rich Rodriguez and Brady Hoke before Harbaugh eventually turned it around.

Michigan has to pick up the pieces again and search for a coach — while the school is also looking for a new president — as it attempts to bounce back from its latest scandal.

Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here. AP college football: https://apnews.com/hub/ap-top-25-college-football-poll and https://apnews.com/hub/college-football

FILE - Michigan offensive coordinator Sherrone Moore, left, and coach Jim Harbaugh watch the team's play against Indiana during an NCAA college football game in Ann Arbor, Mich., Oct. 14, 2023. (AP Photo/Paul Sancya)

FILE - Michigan acting head coach Sherrone Moore reacts to a video replay during the first half of an NCAA college football game against Ohio State, Saturday, Nov. 25, 2023, in Ann Arbor, Mich. (AP Photo/David Dermer, File)

FILE - Michigan acting head coach Sherrone Moore celebrates a 24-15 win over Penn State following an NCAA college football game, Saturday, Nov. 11, 2023, in State College, Pa. (AP Photo/Barry Reeger, File)

FILE - Michigan coach Sherrone Moore walks off the field following an NCAA football game on Saturday, Aug. 30, 2025, in Ann Arbor, Mich. (AP Photo/Al Goldis, File)

FILE - Michigan athletic director Warde Manuel, left, talks with head coach Sherrone Moore, right, before an NCAA college football spring game in Ann Arbor, Mich., April 19, 2025. (AP Photo/Paul Sancya, file)