The Redfin Home Price Index rose +0.3% MoM and +2.1% YoY in January, extending a year-long slowdown in annual growth.

• YoY price growth slowed to +2.1% in January, down from +2.4% YoY in December, marking nearly 12 consecutive months of deceleration.

• Prices increased +0.3% MoM (Dec: +0.2%), showing continued but modest monthly gains.

• Prices fell MoM in 14 of the 50 largest metros, with biggest declines in Warren, MI (-1.5%), San Antonio (-1.0%), and Minneapolis (-0.8%), pointing to localized softness.

• YoY prices declined in 16 metros, led by Austin (-4.2%), San Antonio (-3.8%), and Jacksonville (-3.0%), while strongest gains were San Francisco (+14.3%), New York (+11.1%), and Milwaukee (+9.2%), highlighting regional divergence.

• The average 30-year mortgage rate was 6.09% (down from nearly 7% YoY), improving purchasing power but still limiting demand.

• There were 47% more sellers than buyers, indicating a buyer-favored market with greater negotiating leverage.

• Pandemic-era growth peaked near +21% YoY, providing context for the current muted pace of appreciation.

The Redfin Home Price Index rose +0.1% MoM in December and +2.2% YoY, extending the late-2025 slowdown in annual price growth.

• YoY home price growth slowed to +2.2% (Nov: +2.6%), the slowest annual increase since 2012 and consistent with the cooling trend that began in early 2025.

• Slower growth reflected a continued pullback in buyer demand amid relatively high mortgage rates and broader uncertainty tied to tariffs, inflation, and a challenging job market.

• Prices still rose overall because prospective sellers have also been pulling back, keeping supply tight even as demand softened.

• Prices fell MoM in 14 major metros, up from 12 in November but far below 32 in July, suggesting regional weakness persisted but was less widespread than mid-2025.

• The largest MoM metro declines were Houston (-0.9%), Pittsburgh (-0.6%), and Milwaukee (-0.6%), indicating the steepest monthly weakness was concentrated in a few markets.

• The biggest MoM increases were San Francisco (+2.6%), New York (+1.3%), and Philadelphia (+1.3%), highlighting continued uneven regional price momentum.

• Affordability is expected to improve in 2026 as falling mortgage rates have strengthened purchasing power, with the typical monthly payment reaching its lowest level in two years in early January.

U.S. home prices rose +0.2% MoM in November and +2.6% YoY, marking continued cooling in annual price growth.

• The +0.2% MoM increase in November was slightly slower than October’s +0.3% gain, indicating modest deceleration in monthly momentum.

• YoY price growth eased to +2.6% (Oct: +2.9%), the slowest annual increase in data going back to 2012, extending the downtrend seen since early 2025.

• Home prices declined MoM in 11 major metro areas, fewer than earlier in the year, suggesting more limited geographic weakness.

• The largest MoM declines occurred in Charlotte (-0.9%), Austin (-0.6%), and Cincinnati (-0.6%), highlighting continued softness in select Sun Belt and Midwest markets.

• The strongest MoM gains were in Pittsburgh (+2.3%), Montgomery County, PA (+1.6%), and Chicago (+1.3%), pointing to uneven regional price dynamics.

• On a YoY basis, Chicago (+11.0%), Pittsburgh (+10.1%), and New York (+9.5%) posted the largest increases, while Austin (-3.8%), Dallas (-2.8%), and Oakland recorded annual declines.

U.S. home prices rose 0.3% MoM in October on a seasonally adjusted basis, with YoY growth easing to 2.9% (from 3.1% in September), marking the slowest annual increase since 2012 and reflecting a market moving sideways.

• The 0.3% MoM gain followed a 0.2% increase in September, showing slightly firmer monthly momentum even as annual growth continued its gradual deceleration.

• Prices fell in 14 of the 50 largest metros, down from 20 in September and 30 in August, indicating fewer markets experienced monthly declines compared with the summer’s soft patch.

• The steepest MoM drops occurred in Fort Lauderdale (-1.4%), Philadelphia (-0.6%), and Dallas (-0.3%), highlighting localized weakness.

• The strongest MoM increases were in San Francisco (+1.7%), Chicago (+1.4%), and West Palm Beach (+1.1%), pointing to stronger pockets of demand.

• Cleveland (+10.1%), Chicago (+9.8%), and Milwaukee (+9.4%) led YoY price gains, while Tampa (-3.6%), Austin (-3.4%), and Dallas (-2.4%) posted the sharpest annual declines.

• Redfin noted that slower inventory growth in recent months has helped support prices, even as overall demand remains historically low and many buyers stay sidelined due to affordability and uncertainty.

U.S. home prices rose 0.2% MoM in September 2025, matching August’s pace and marking a second straight month of modest gains, while YoY growth slowed to 3%, the weakest in Redfin’s data since 2012.

• Monthly prices were unchanged from August’s +0.2% MoM increase, showing continued stability after July’s flat reading.

• Annual price growth eased to 3% YoY (from 3.3% in August), down sharply from the 5–6% range seen earlier in 2025.

• Prices rose MoM in 32 of the 50 largest metros, led by San Diego (+1.7%), Milwaukee (+1.2%), and Providence (+0.8%).

• The steepest MoM declines were in San Antonio (-0.6%), Los Angeles (-0.6%), and Las Vegas (-0.6%).

• On a YoY basis, New York (+9.4%), Milwaukee (+9.0%), and Cleveland (+8.8%) led gains, while Austin (-4.2%), Tampa (-4.1%), and Phoenix (-2.5%) recorded the largest drops.

• Redfin noted that both buyers and sellers remain cautious amid elevated mortgage rates and economic uncertainty, keeping price movements narrow and the market in a “holding pattern.”

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.