US Existing-Home Prices Rise in September

On Tuesday, Redfin reported that US home prices rose 0.25% in September on a seasonally adjusted basis, up from a 0.21% increase in August.

Year-over-year, home prices increased 3.8%—the fastest annual growth rate since June 2025.

The Redfin Home Price Index (RHPI) uses the repeat-sales pricing method to calculate seasonally adjusted changes in single-family home prices, tracking how values change between sales of the same properties. September data cover the three months ending September 30.

Redfin attributed continued price growth partly to homeowners choosing to wait rather than accept low offers, supported by substantial home equity. Some sellers are also delisting their properties, limiting supply, while stronger demand in the luxury market is helping support prices despite buyers having more negotiating power than at any point in over a decade.

Of the 50 most populous US metropolitan areas, 34 recorded monthly home price increases in September, while 16 reported declines.