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Zillow economists just published their updated 12-month forecast, projecting that U.S. home prices—as measured by the Zillow Home Value Index—will shift down 0.1% from April 2026 to April 2027.

That’s a tiny downward revision from its 12-month national forecast published in April (+0.1%) and its 12-month national forecast published in March (+0.5%).

U.S. home prices, as measured by the Zillow Home Value Index, are currently up 0.7% year over year . Zillow’s latest 12-month outlook (-0.1%) expects national home prices to remain near that subdued pace. As long as national home price growth remains below U.S. wage growth (currently up 3.6%), underlying fundamentals should continue to improve.…