Redfin Home Price Index

Data Real Estate

Source: Redfin
Source Link: https://www.redfin.com/
Frequency: Monthly
Next Release(s): October 21st, 2025 12:00 PM

Latest Updates

U.S. home prices rose 0.2% MoM in August 2025, while YoY growth slowed to 3.1%, the weakest pace in Redfin’s data since 2012.
- Prices increased slightly from July’s flat reading, marking the first acceleration in monthly growth since January.
- On a YoY basis, the 3.1% gain represents a significant slowdown from earlier in the year, reflecting softer demand and higher inventory.
- Prices fell MoM in 26 of the 50 largest metros, led by San Diego (-1.4%), Los Angeles (-1.1%), and Fort Lauderdale (-1.0%).
- The strongest MoM gains were in San Francisco (+1.5%), Philadelphia (+1.5%), and Charlotte (+0.8%).
- New York (+11% YoY), Nassau County (+8.9%), and Newark (+8.6%) posted the largest annual increases.
- Austin (-3.7% YoY), Tampa (-3.5%), and Oakland (-2.1%) recorded the sharpest annual declines.
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U.S. home prices fell -0.1% MoM in July 2025, the third straight monthly decline, while YoY growth slowed to 2.9%, the lowest rate since the Redfin series began in 2012.
- Prices declined in 39 of the top 50 metros, the highest share of metros posting MoM declines in the dataset’s history.
- The sharpest MoM drops were in West Palm Beach (-2.6%), San Diego (-2.2%), and Austin (-1.9%).
- New York (+11.8% YoY), Newark (+9.3%), and Nassau County (+8.3%) led annual gains, while Austin (-4.5%), Tampa (-4.2%), and Dallas (-2.6%) saw the largest YoY declines.
- Redfin attributed the broader slowdown to rising inventory and reduced buyer demand, as high mortgage rates and economic uncertainty weigh on activity.
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Home prices fell -0.1% MoM in June 2025, the third consecutive monthly decline, while YoY growth slowed to 3.4%, the weakest pace since June 2023.
- 30 of the 50 largest U.S. metros posted MoM declines, led by Washington, D.C. (-1.8%), Austin, and San Diego.
- Washington, D.C. prices have declined by at least -1.5% MoM for three straight months, amid major federal job cuts.
- YoY, Washington’s price growth slowed to 2.9% (from 10.9% in March), the sharpest deceleration among major metros.
- Redfin expects prices to fall about -1% by year-end as high mortgage rates and weak demand continue to weigh on the market.
- Inventory has risen, but buyer activity remains limited, keeping overall sales sluggish.
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Home prices fell -0.1% MoM in May 2025, marking only the fourth monthly decline in the past decade.
- YoY price growth slowed to 3.6%, down from 4.1% in April, the weakest since July 2023.
- 32 of the 50 largest metros posted MoM price declines, led by Charlotte (-2.7%), San Francisco (-1.3%), and Seattle (-1.3%).
- Nassau County (+2.1%), San Diego (+1.6%), and Fort Lauderdale (+1.5%) saw the largest MoM gains.
- YoY, New York (+12.4%), Nassau County (+11.3%), and Detroit (+11.2%) led price increases; Tampa (-5.5%) saw the largest YoY decline.
- Less than 1 in 3 homes sold above asking price, and pending sales are slipping as inventory rises.
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Home prices ticked down -0.1% MoM in April, the first monthly decline since September 2022.
- On a year-over-year basis, home prices rose 4.1%, down from 5.9% growth in March and the slowest annual gain since July 2023.
- April marked only the third time that the RHPI has posted a month-over-month decline, with the other months—August and September in 2022—coming after a series of rapid interest rate rises. It’s worth noting that April’s decline (-0.05%, rounded to -0.1%) is minor and that RHPI data is subject to revision.
- Highlighting the overall slowdown, prices fell in 25 of the 50 most populous metro areas on a seasonally adjusted basis in April, month over month.
- The biggest decline was in Charlotte, NC (-1%), followed by Virginia Beach, VA (-1%) and Miami (-0.7%). Prices increased most in Nassau County, NY (1.8% month over month), Warren, MI (1.3%) and New York (1.2%).
- Redfin: “Home prices are essentially flat for two reasons:
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Home prices ticked up 0.2% MoM in March, the slowest pace since December 2022.
- On a year-over-year basis, home prices rose 4.6%, down from 5.1% growth the month before. It was the 11th consecutive month that annual growth had slowed.
- Twenty of the 50 most populous U.S. metros recorded a drop in home prices month over month, led by Columbus, OH (-0.7%).
- Redfin: “Homes are taking longer to sell and prices are falling in some areas because fear of a broader economic slowdown is pushing many would-be buyers to the sidelines… New tariffs are adding to the economic uncertainty and prices may slow even further in coming months. With housing costs at near-record highs, that’s a silver lining for a buyer who has to move right now, as there will be more room for negotiation.”
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Home prices grew 0.4% MoM in February, the slowest pace since July 2024.
- On a year-over-year basis, home prices rose 5.1%, the slowest increase since August 2023. It was the 10th consecutive month that annual growth had slowed.
- Prices have grown between 0.4% and 0.6% MoM in 13 of the past 16 months.
- Eight of the 50 most populous U.S. metros—nearly all in Florida and Texas—recorded a drop in home prices year over year, led by Tampa (-6%).
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Home prices grew 0.6% MoM in January, equal to the quickest pace since November 2023. However, on a YoY basis, home prices rose 5.4%, the slowest pace since August 2023.

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The Redfin Home Price Index grew 0.4% MoM and 5.4% YoY in December which is the slowest annual increase since 2015. Redfin expects prices to continue to increase in 2025 as it does not see inventory catching up with demand.

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