Redfin's Home Price Index shows June prices rose 0.3% month over month and 3% year over year—the strongest annual gain in 10 months—with Ohio metros and Miami leading the way.
Source: Original report
Prices Accelerate to a Post-January High
U.S. home prices increased 0.3% on a seasonally adjusted, month-over-month basis in June, matching May's pace as the fastest growth recorded since the beginning of 2026, according to the Redfin Home Price Index (RHPI). On an annual basis, prices climbed 3%—the strongest year-over-year gain in 10 months.
The RHPI uses a repeat-sales methodology to track seasonally adjusted price changes for single-family homes, measuring how individual properties appreciate between successive sales. It is typically published about a month ahead of the S&P Cotality Case-Shiller Index, with June data covering the three-month window ending June 30, 2026.
What's Driving the Gains
Even as mortgage rates remain elevated and economic uncertainty weighs on many households, early-summer homebuying demand showed clear signs of strengthening. Redfin agents in multiple regions reported that the supply of affordable, move-in-ready homes remains too thin to satisfy buyer interest, putting upward pressure on prices and pushing national values to a record high.
The luxury segment is amplifying overall price growth. High-end home prices are rising roughly three times faster than non-luxury properties, as affluent buyers continue purchasing despite rate headwinds. Markets such as San Francisco and South Florida are benefiting disproportionately from this trend.
Redfin senior economist Sheharyar Bokhari urged sellers and buyers to focus on local conditions:
