Redfin Home Price Index: U.S. Home Prices Rose 0.25% in September, Up 3.8% From a Year Earlier
Redfin on October 20 released its latest Redfin Home Price Index (RHPI) from Seattle, showing U.S. single-family home prices rose 0.25% month over month in September on a seasonally adjusted basis, up slightly from 0.21% in August. Prices rose 3.8% from a year earlier, the fastest annual growth rate since June 2025. The RHPI uses the repeat-sales method, tracking how the sale price of a home has changed since its previous sale; September data covers the three months ending September 30, 2026.
Redfin said prices are still climbing a little each month even though buyers have more negotiating power than they have had in over a decade. Many homeowners have built up enough equity that they would rather wait than accept a low offer, and some are delisting their homes, which keeps a floor under prices; stronger demand in the luxury market is also propping up prices.
By metro, prices rose month over month in 34 of the 50 most populous U.S. metros. The biggest gains were in Pennsylvania: Philadelphia rose 1.9% and Pittsburgh 1.3%, followed by Miami at 1.3%, Chicago at 1% and San Francisco at 1%. Redfin said buyers in Philadelphia, Pittsburgh and Chicago are finding comparatively affordable homes, while San Francisco's hot market is largely due to SI wealth. Year over year, San Francisco led with a 14% increase, followed by West Palm Beach, Florida (10.4%), Chicago (10.3%), Miami (8.2%) and Philadelphia (7.6%).
Prices fell in 16 metros, led by Fort Worth, Texas, down 0.9% month over month, and New Brunswick, New Jersey, down 0.6%; Dallas, Seattle and Nassau County, New York, each fell 0.4%. On a year-over-year basis, prices dipped in just six major metros, five of them in Texas: San Antonio fell 2.1%, Dallas 1.5%, Austin 0.2% and Houston 0.1%, along with Seattle at 0.2%. Redfin described those Texas metros as among the strongest buyer's markets in the nation, where sellers may need to lower prices to attract buyers. The full report is available on Redfin's news site.
Published by GSM · USA (original Chinese edition)
Photo: 旧金山（San Francisco）Bernal Heights 住宅区（资料图，本站裁切）· Ken Lund 摄，CC BY-SA 2.0（维基共享资源）
