Latest news with #RHPI
Yahoo
24-06-2025
- Business
- Yahoo
U.S. Home Prices Edged Down 0.1% in May, Only the Fourth Monthly Drop in the Past Decade
Redfin reports 32 of the 50 most populous U.S. metros recorded a drop in home prices month over month SEATTLE, June 24, 2025--(BUSINESS WIRE)--(NASDAQ: RDFN) — U.S. home prices edged down 0.1% in May on a seasonally adjusted basis, according to a new report from Redfin ( the technology-powered real estate brokerage. Home prices have only posted a month-over-month decline three other times in records dating back to 2012: April 2025, and August-September 2022—when mortgage rates were peaking. Home prices rose 3.6% on a year-over-year basis in May, down from 4.1% growth in April. It was the first time annual price growth has been below 4% since July 2023. This is according to the Redfin Home Price Index (RHPI), which uses the repeat-sales pricing method to calculate seasonally adjusted changes in prices of single-family homes. The RHPI measures sale prices of homes that sold during a given period, and how those prices have changed since the last time those same homes sold. The homebuying market is cooling because sellers significantly outnumber buyers. Less than one-third (31.2%) of homes that sold in May went for over their asking price, the lowest May share in five years. At the same time, pending sales are ticking down and inventory is still rising. "Sellers are starting to feel pressure because many buyers have put their home search on pause in response to high housing costs, elevated mortgage rates and economic uncertainty," said Redfin Senior Economist Sheharyar Bokhari. "More sellers are likely to adjust their price expectations in the coming months as they see examples of the market shifting in favor of buyers, like homes selling below asking prices. Still, home price trends are always local and some areas—particularly on the East Coast—continue to see strong growth." Metro-Level Summary: Redfin Home Price Index, May 2025 Prices fell from a month earlier in 32 of the 50 most populous metro areas on a seasonally adjusted basis in May. The biggest decline was in Charlotte, NC (-2.7%), followed by San Francisco (-1.3%) and Seattle (-1.3%). Prices increased most in Nassau County, NY (2.1%), San Diego (1.6%) and Fort Lauderdale, FL (1.5%). On a year-over-year basis, five major metros are still posting double-digit growth: New York (12.4%), Nassau County, NY (11.3%), Detroit (11.2%), Philadelphia (11%) and Chicago (10.2%). At the other end of the spectrum, Tampa, FL posted a 5.5% decline in prices from a year ago—the biggest drop of any major metro. Next came Austin, TX (-3.6%) and San Antonio, TX (-2.4%). To view the full report, including charts, additional metro-level data and a full methodology, please visit: About Redfin Redfin ( is a technology-powered real estate company. We help people find a place to live with brokerage, rentals, lending, and title insurance services. We run the country's #1 real estate brokerage site. Our customers can save thousands in fees while working with a top agent. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than $1.8 billion in commissions. We serve approximately 100 markets across the U.S. and Canada and employ over 4,000 people. Redfin's subsidiaries and affiliated brands include: Bay Equity Home Loans®, Rent.™, Apartment Guide®, Title Forward® and WalkScore®. For more information or to contact a local Redfin real estate agent, visit To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin's press release distribution list, email press@ To view Redfin's press center, click here. View source version on Contacts Contact RedfinRedfin Journalist Services:Angela Cherrypress@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
24-06-2025
- Business
- Business Wire
U.S. Home Prices Edged Down 0.1% in May, Only the Fourth Monthly Drop in the Past Decade
SEATTLE--(BUSINESS WIRE)--(NASDAQ: RDFN) — U.S. home prices edged down 0.1% in May on a seasonally adjusted basis, according to a new report from Redfin ( the technology-powered real estate brokerage. Home prices have only posted a month-over-month decline three other times in records dating back to 2012: April 2025, and August-September 2022—when mortgage rates were peaking. Home prices rose 3.6% on a year-over-year basis in May, down from 4.1% growth in April. It was the first time annual price growth has been below 4% since July 2023. This is according to the Redfin Home Price Index (RHPI), which uses the repeat-sales pricing method to calculate seasonally adjusted changes in prices of single-family homes. The RHPI measures sale prices of homes that sold during a given period, and how those prices have changed since the last time those same homes sold. The homebuying market is cooling because sellers significantly outnumber buyers. Less than one-third (31.2%) of homes that sold in May went for over their asking price, the lowest May share in five years. At the same time, pending sales are ticking down and inventory is still rising. 'Sellers are starting to feel pressure because many buyers have put their home search on pause in response to high housing costs, elevated mortgage rates and economic uncertainty,' said Redfin Senior Economist Sheharyar Bokhari. 'More sellers are likely to adjust their price expectations in the coming months as they see examples of the market shifting in favor of buyers, like homes selling below asking prices. Still, home price trends are always local and some areas—particularly on the East Coast—continue to see strong growth.' Metro-Level Summary: Redfin Home Price Index, May 2025 Prices fell from a month earlier in 32 of the 50 most populous metro areas on a seasonally adjusted basis in May. The biggest decline was in Charlotte, NC (-2.7%), followed by San Francisco (-1.3%) and Seattle (-1.3%). Prices increased most in Nassau County, NY (2.1%), San Diego (1.6%) and Fort Lauderdale, FL (1.5%). On a year-over-year basis, five major metros are still posting double-digit growth: New York (12.4%), Nassau County, NY (11.3%), Detroit (11.2%), Philadelphia (11%) and Chicago (10.2%). At the other end of the spectrum, Tampa, FL posted a 5.5% decline in prices from a year ago—the biggest drop of any major metro. Next came Austin, TX (-3.6%) and San Antonio, TX (-2.4%). To view the full report, including charts, additional metro-level data and a full methodology, please visit: About Redfin Redfin ( is a technology-powered real estate company. We help people find a place to live with brokerage, rentals, lending, and title insurance services. We run the country's #1 real estate brokerage site. Our customers can save thousands in fees while working with a top agent. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than $1.8 billion in commissions. We serve approximately 100 markets across the U.S. and Canada and employ over 4,000 people. Redfin's subsidiaries and affiliated brands include: Bay Equity Home Loans®, Rent.™, Apartment Guide®, Title Forward® and WalkScore®. For more information or to contact a local Redfin real estate agent, visit To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin's press release distribution list, email press@ To view Redfin's press center, click here.
Business Wire
20-05-2025
- Business
- Business Wire
Redfin Reports U.S. Home Prices Tick Down 0.1% in April, the First Monthly Drop Since 2022
SEATTLE--(BUSINESS WIRE)--(NASDAQ: RDFN) — U.S. home prices ticked down 0.1% in April on a seasonally adjusted basis, the first month-over-month decline since September 2022. This is according to a new report from Redfin ( the technology-powered real estate brokerage. Home prices were up 4.1% on a year-over-year basis, down from 4.9% growth in March. That's the lowest annual price growth since July 2023. This is according to the Redfin Home Price Index (RHPI), which uses the repeat-sales pricing method to calculate seasonally adjusted changes in prices of single-family homes. The RHPI measures sale prices of homes that sold during a given period, and how those prices have changed since the last time those same homes sold. 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. Redfin Senior Economist Sheharyar Bokhari said home prices are essentially flat for two reasons: Demand is down: Buyers are adopting a wait and see approach, with the impact of U.S. tariff policies and a potential recession weighing heavily on their decision to make major purchases. With more buyers on the sidelines, pending home sales were down 3.5% month over month on a seasonally adjusted basis in April. Supply is up: The total number of homes for sale is at a five-year high —mainly because homes aren't selling. That's leading sellers to offer concessions at near-record levels. 'Home prices are flat, and that's good news for buyers after years of rapid increases," said Bokhari. 'But even with prices softening, affordability remains a major hurdle. Elevated mortgage rates and high prices mean that many buyers are stretching their budgets to make a purchase.' Metro-Level Summary: Redfin Home Price Index, April 2025 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%). To view the full report, including charts, additional metro-level data and a full methodology, please visit: About Redfin Redfin ( is a technology-powered real estate company. We help people find a place to live with brokerage, rentals, lending, and title insurance services. We run the country's #1 real estate brokerage site. Our customers can save thousands in fees while working with a top agent. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than $1.8 billion in commissions. We serve approximately 100 markets across the U.S. and Canada and employ over 4,000 people. Redfin's subsidiaries and affiliated brands include: Bay Equity Home Loans®, Rent.™, Apartment Guide®, Title Forward® and WalkScore®. For more information or to contact a local Redfin real estate agent, visit To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin's press release distribution list, email press@ To view Redfin's press center, click here.
Yahoo
20-05-2025
- Business
- Yahoo
Redfin Reports U.S. Home Prices Tick Down 0.1% in April, the First Monthly Drop Since 2022
Half of the 50 most populous U.S. metros recorded a drop in home prices compared to March SEATTLE, May 20, 2025--(BUSINESS WIRE)--(NASDAQ: RDFN) — U.S. home prices ticked down 0.1% in April on a seasonally adjusted basis, the first month-over-month decline since September 2022. This is according to a new report from Redfin ( the technology-powered real estate brokerage. Home prices were up 4.1% on a year-over-year basis, down from 4.9% growth in March. That's the lowest annual price growth since July 2023. This is according to the Redfin Home Price Index (RHPI), which uses the repeat-sales pricing method to calculate seasonally adjusted changes in prices of single-family homes. The RHPI measures sale prices of homes that sold during a given period, and how those prices have changed since the last time those same homes sold. 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. Redfin Senior Economist Sheharyar Bokhari said home prices are essentially flat for two reasons: Demand is down: Buyers are adopting a wait and see approach, with the impact of U.S. tariff policies and a potential recession weighing heavily on their decision to make major purchases. With more buyers on the sidelines, pending home sales were down 3.5% month over month on a seasonally adjusted basis in April. Supply is up: The total number of homes for sale is at a five-year high—mainly because homes aren't selling. That's leading sellers to offer concessions at near-record levels. "Home prices are flat, and that's good news for buyers after years of rapid increases," said Bokhari. "But even with prices softening, affordability remains a major hurdle. Elevated mortgage rates and high prices mean that many buyers are stretching their budgets to make a purchase." Metro-Level Summary: Redfin Home Price Index, April 2025 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%). To view the full report, including charts, additional metro-level data and a full methodology, please visit: About Redfin Redfin ( is a technology-powered real estate company. We help people find a place to live with brokerage, rentals, lending, and title insurance services. We run the country's #1 real estate brokerage site. Our customers can save thousands in fees while working with a top agent. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than $1.8 billion in commissions. We serve approximately 100 markets across the U.S. and Canada and employ over 4,000 people. Redfin's subsidiaries and affiliated brands include: Bay Equity Home Loans®, Rent.™, Apartment Guide®, Title Forward® and WalkScore®. For more information or to contact a local Redfin real estate agent, visit To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin's press release distribution list, email press@ To view Redfin's press center, click here. View source version on Contacts Contact RedfinRedfin Journalist Services:Angela Cherrypress@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
22-04-2025
- Business
- Business Wire
Redfin Reports U.S. Home Prices Ticked Up 0.2% in March, the Slowest Pace Since 2022
SEATTLE--(BUSINESS WIRE)--(NASDAQ: RDFN) — U.S. home prices ticked up 0.2% from a month earlier in March on a seasonally adjusted basis, the slowest pace since December 2022, according to a new report from Redfin ( the technology-powered real estate brokerage. Home prices were up 4.6% on a year-over-year basis, down from 5.1% growth in February. That's the 11th consecutive month that annual growth has slowed and the first time it dipped below 5% since August 2023. This is according to the Redfin Home Price Index (RHPI), which uses the repeat-sales pricing method to calculate seasonally adjusted changes in prices of single-family homes. The RHPI measures sale prices of homes that sold during a given period, and how those prices have changed since the last time those same homes sold. The RHPI has only recorded month-over-month price declines on two occasions, both in mid-2022, when spiking mortgage rates cooled the market dramatically. Since then, prices have grown relatively steadily, with most months seeing gains of between 0.4% and 0.6%. Price growth is slowing because homebuying demand isn't keeping up with the rising number of homes for sale. There are a few parts of the country, particularly in the Midwest, where demand is holding up, but generally buyers are backing off. '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,' said Redfin Senior Economist Sheharyar Bokhari. '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.' Metro-Level Summary: Redfin Home Price Index, March 2025 Home prices fell in 20 of the 50 most populous U.S. metro areas on a seasonally adjusted basis in March, month over month. The biggest decline was in Columbus, OH (-0.7%), followed by Denver (-0.6%) and San Jose, CA (-0.6%). Prices increased most in San Francisco (2.7% month over month), Nassau County, NY (2.6%) and Milwaukee (1.7%). To view the full report, including charts, additional metro-level data and a full methodology, please visit: About Redfin Redfin ( is a technology-powered real estate company. We help people find a place to live with brokerage, rentals, lending, and title insurance services. We run the country's #1 real estate brokerage site. Our customers can save thousands in fees while working with a top agent. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than $1.8 billion in commissions. We serve approximately 100 markets across the U.S. and Canada and employ over 4,000 people. Redfin's subsidiaries and affiliated brands include: Bay Equity Home Loans®, Rent.™, Apartment Guide®, Title Forward® and WalkScore®. For more information or to contact a local Redfin real estate agent, visit To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin's press release distribution list, email press@ To view Redfin's press center, click here.
