Redfin: U.S. home prices rise 0.27% in July, growth essentially flat vs June
RDFN•RDFN•RDFN•RDFN•Redfin analysis showed U.S. home prices rose 0.27% in July on a seasonally adjusted basis, nearly matching June’s 0.28% gain.
Annual price growth accelerated to 3.4%, the fastest pace in a year, despite mortgage rates holding in the mid-to-high 6% range.
Bay Area strength led July gains, with San Francisco up 1.5% month over month, supported by AI-driven luxury demand.
Some buyer’s markets posted declines, led by Montgomery County, Pennsylvania at -1.1%, with parts of Texas also weakening.
The report cited a market imbalance with hundreds of thousands more sellers than buyers, limiting broad-based price appreciation.
