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U.S. home prices rise 0.3% month over month in June
Redfin links the increase to stronger early-summer demand despite high mortgage rates, with luxury prices growing about three times faster than non-luxury prices.
U.S. home prices rose 0.3% month over month in June on a seasonally adjusted basis, matching May as the fastest growth rate since January, according to the Redfin Home Price Index (RHPI). The RHPI uses a repeat-sales method to track changes in single-family sale prices and said June data covers the three months ending June 30, 2026.
Redfin reported annual price growth of 3% year over year in June, the fastest pace in 10 months. The company attributed the pickup in early-summer demand partly to the broader economic uncertainty tied to the Iran war, even as mortgage rates remain high.
Redfin said the market still has more sellers than buyers, but that agents in many areas are seeing a shortage of affordable, move-in ready homes that is lifting prices. It also pointed to a stronger luxury segment, noting that luxury home prices are rising three times faster than non-luxury prices, with affluent buyers having an outsized impact in markets including San Francisco and South Florida.
Among major metros, Redfin found prices increased month over month in 30 of its 49 metros with sufficient data. The largest gain was Columbus, Ohio, at 1.2%, followed by Miami at 1.1%.