Latest news with #RedfinHomePriceIndex
Yahoo
3 days ago
- Business
- Yahoo
Are U.S. home prices finally dropping? What a new analysis found
U.S. home prices dropped slightly in April. The decline was measured at 0.1% by the Redfin Home Price Index, on a seasonally adjusted basis. It's the first month-over-month fall in prices since September 2022, according to the Seattle-based brokerage site. But on a year-over-year basis, Redfin said April home prices around the country were up 4.1%. Still, that's less than the 4.9% growth recorded in March, the lowest annual price growth since July 2023. Redfin senior economist Sheharyar Bokhari said housing costs continue to be an issue. 'Home prices are flat, and that's good news for buyers after years of rapid increases,' Bokhari said. '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.' He attributed what's seen as a minor change in prices to demand being down while supply is up. Buyers are seen taking 'a wait and see approach' to making major purchases due to concerns over the impact of President Donald Trump's on-again, off-again tariffs that some fear could lead to a recession. That's led to pending home sales falling 3.5% month over month in April, according to Redfin, and the total number of homes for sale hitting a five-year high even with sellers offering more concessions. Mortgage payments also reached an all-time high in April, with the median U.S. monthly mortgage payment at $2,870, Redfin data has shown. The new record was said to result from both high home prices and mortgage rates. The new data released Wednesday had home prices falling in half of the nation's most populous metropolitan areas, a list which does not include any place in Utah. Redfin described the numbers as 'highlighting the overall slowdown.' The company's data found April home prices, adjusted on a seasonally adjusted basis and compared month over month, dropped the most in Charlotte, North Carolina, and Virginia Beach, Virginia, where they were down 1%. The biggest home price increase was in Nassau County, New York, up 1.8%. 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
Yahoo
20-05-2025
- Business
- Yahoo
Home prices record first monthly drop since 2022: Redfin
(NewsNation) — Elevated mortgage rates and economic uncertainty have sidelined buyers, and for the first time in years, home prices are starting to slip. According to the Redfin Home Price Index, U.S. home prices dipped 0.1% in April on a seasonally adjusted basis — the first monthly drop since September 2022. Though small, the decline reflects a broader shift in the balance of power, with buyers starting to regain leverage in many major markets. In April, prices fell month over month in half of the 50 largest metros, led by Charlotte (-1%), Virginia Beach (-1%) and Miami (-0.7%), per Redfin's index. Homebuying season: 4 things to know about the 2025 housing market Flattening home prices provide further evidence that the 2025 spring homebuying season could be the slowest in years. The typically busy period is already off to a sluggish start, as uncertainty around President Trump's tariffs weighs heavily on consumer confidence. 'There's a general feeling of anxiety in the housing market because no one knows what they're going to read in the news when they wake up,' Dan Close, a Redfin Premier real estate agent in Chicago, said in a report this week. The supply of homes for sale is now at a five-year high, and more sellers are offering concessions to get deals done, according to Redfin. Homesellers want nearly $39K more than buyers will pay Still, affordability remains a challenge. On a year-over-year basis, home prices were up 4.1% in April, according to Redfin's Home Price Index. While that's the slowest annual price growth since July 2023, it hardly suggests that homeownership is becoming more attainable for most families. As with all things in real estate, conditions vary by market, and in many metros, prices continued to climb in April. Prices rose fastest in Nassau County, New York (1.8% month over month); Warren, Michigan (1.3%); and New York (1.2%). In cities like Detroit, New Brunswick and Philadelphia, home prices are up more than 12% year over year, Redfin found. The Redfin Housing Price Index reflects seasonally adjusted changes in the prices of single-family homes. It tracks how sale prices have changed over time by comparing a home's most recent sale to its previous sale. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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
Yahoo
07-05-2025
- Business
- Yahoo
Are increases in home prices slowing down?
A 'For Sale' sign stands among homes in North Salt Lake on Wednesday, Sept. 25, 2024. | Isaac Hale, Deseret News U.S. home prices went up again in March, but by just 0.2% from a month earlier as a new analysis shows the pace of the increase is the slowest since December 2022. The 4.6% year-over-year growth, down from 5.1% in February, was posted Tuesday by Seattle-based Redfin, the nation's largest brokerage website. It marks the 11th consecutive month that annual growth in home prices has slowed. Redfin's Home Price Index for March, a seasonally adjusted calculation of the changes in prices of single-family homes in the country's 50 largest metropolitan areas, also fell below 5% for the first time since August 2023. The dip is due to demand not keeping up with the supply of homes for sale, according to Redfin, as financial markets react to President Donald Trump's on-again, off-again tariffs and escalating pressure on the Federal Reserve chairman. '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,' Redfin senior economist Sheharyar Bokhari said. 'New tariffs are adding to the economic uncertainty and prices may slow even further in coming months,' Bokhari said. '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.' Last week, Redfin released poll results showing a majority of Americans say the president's tariff policies have made them less likely to buy a home or other big-ticket item this year. Nearly a quarter of the poll respondents said they'd canceled plans to make a major purchase. Mortgage rates briefly shot up to more than 7% amid the financial turbulence but the U.S. weekly average for a 30-year fixed-rate mortgage reported on Thursdays by the Federal Home Loan Mortgage Corp., better known as Freddie Mac, has stayed below that threshold. The Redfin Home Price Index has seen a month-over-month drop just twice, both times when mortgage rates skyrocketed in mid-2022. Since then, the index has shown prices growing 'relatively steadily,' with most months posting increases of between 0.4% and 0.6%. In March, home prices went down in 20 of the 50 largest metro areas, with the largest drop in Columbus, Ohio (-0.7%), followed by Denver (-0.6%), and San Jose, California (-0.6%). Prices jumped the most in San Francisco (2.7%), Nassau County, New York (2.6%) and Milwaukee (1.7%). No metro area in Utah was included in the analysis.
