Redfin Reports U.S. Home Prices Rose 0.27% in July, Essentially Unchanged From a Month Earlier

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Redfin (powered by Rocket; NYSE:RKT) reported that U.S. home prices rose 0.27% month over month in July 2026 on a seasonally adjusted basis, nearly unchanged from June’s 0.28% gain. Prices were up 3.4% year over year, the fastest annual growth in a year, according to the Redfin Home Price Index.

Month-over-month prices increased in 29 of 49 major metros, led by San Francisco (1.5%), Oakland (1.3%), and Pittsburgh and New York (both 1%). Declines appeared in 20 metros, with the largest in Montgomery County, PA (-1.1%) and several Texas markets, where seller-to-buyer imbalances are pressuring prices.

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• Nationwide, home prices grew 0.27% in July, basically flat from 0.28% in June 
• San Francisco, Oakland and West Palm Beach led the nation in price growth, with affluent house hunters—including AI workers—propping up demand 
• Prices fell in parts of the East Coast, Midwest and Texas, with some major buyer's markets seeing the biggest dips 

SEATTLE, Aug. 18, 2026 /PRNewswire/ -- U.S. home prices increased 0.27% month over month in July on a seasonally adjusted basis—essentially flat from a 0.28% growth rate in June—according to a new report from Redfin, the real estate brokerage powered by Rocket. Prices rose 3.4% from a year earlier, the fastest annual growth in a year. 

This is according to the Redfin Home Price Index (RHPI), which uses the repeat-sales pricing method to calculate seasonally adjusted changes in single-family home prices. The RHPI measures how sale prices of homes have changed since their previous sale. July data covers the three months ending July 31, 2026.

Flat home-price growth is a reflection of housing market dynamics. Buyers are still contending with high housing costs—including mortgage rates that have sat in the mid-to-high 6% range all summer—which is keeping a lid on demand. At the same time, there are hundreds of thousands more sellers than buyers in the market, which caps price growth. 

Still, the slowdown is very modest: Home prices are still rising, and they're rising at only a marginally slower pace than they were late in the spring. The strong luxury market is one reason why price growth remains fairly strong despite tepid demand. Luxury home prices are rising faster than non-luxury prices; wealthy homebuyers are having an outsized impact on home-price growth, especially in affluent markets like the Bay Area and South Florida. 

"Despite the sluggishness of the overall housing market, home-price growth is proving to be surprisingly resilient," said Chen Zhao, Redfin's head of economics research. "That's partly because today's market is split in two: Many everyday buyers are constrained by affordability challenges, while wealthy buyers have the means to keep competing for desirable homes. That upper-end strength is helping prop up prices even as the broader market cools, giving buyers some bargaining power."

Home Prices Are Rising in Most Major Metros, Led by San Francisco 

Home prices rose in 29 major U.S. metros month over month on a seasonally adjusted basis in July. Redfin analyzed the 50 most populous U.S. metro areas, and included the 49 with sufficient data. 

The biggest uptick was in San Francisco, where home prices rose 1.5% month over month. It's followed by neighboring Oakland, where prices increased 1.3%. Next come Pittsburgh (1%), New York (1%), West Palm Beach (0.9%) and Cincinnati (0.9%).

Prices are surging in the Bay Area largely because the AI boom has led to strong homebuying demand. In West Palm Beach, affluent buyers are driving the market, with luxury homes selling for ultra-high prices. 

Prices declined in 20 of the metros in Redfin's analysis, with the biggest drop in Montgomery County, PA (-1.1% month over month). It's followed by Fort Worth, TX (-0.8%), Austin, TX (-0.6%), Miami (-0.6%) and Virginia Beach, VA (-0.6%).

On a year-over-year basis, prices also rose most in San Francisco in July, which notched a 13.3% annual increase. It's followed by Chicago (9.5%), Nassau County, NY (9.4%), Milwaukee (9%) and West Palm Beach (8.9%). 

The biggest year-over-year declines were in Texas. San Antonio (-2.1%) is first, followed by Fort Worth (-1.3%), Dallas (-1%), Austin (-1%) and Phoenix (-0.9%). Prices are falling in those places because in each of them, there are roughly twice as many sellers as buyers. That leads sellers to price lower to attract house hunters and, in some cases, buyers are able to negotiate prices down. 

To view the full report, including a chart and additional metro-level data, please visit: https://www.redfin.com/news/home-price-index-july-2026 

About Redfin 

Redfin is a technology-driven real estate company with the country's most-visited real estate brokerage website. As part of Rocket Companies (NYSE: RKT), Redfin is creating an integrated homeownership platform from search to close to make the dream of homeownership more affordable and accessible for everyone. Redfin's clients can see homes first with on-demand tours, easily apply for a home loan with Rocket Mortgage, and save thousands in fees while working with a top local agent.

You can find more information about Redfin and get the latest housing market data and research at https://www.redfin.com/news. For more information about Rocket Companies, visit https://www.rocketcompanies.com.

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SOURCE Redfin

FAQ

How much did U.S. home prices rise in July 2026 according to Redfin and how is this relevant for RKT investors?

U.S. home prices rose 0.27% month over month in July 2026, essentially flat from June. According to Redfin, prices were 3.4% higher year over year, signaling continued housing-market resilience that can influence mortgage and housing-related activity relevant to RKT’s ecosystem.

Which U.S. metro areas saw the strongest home price growth in July 2026 in Redfin’s report linked to RKT?

San Francisco led with a 1.5% month-over-month home price increase in July 2026. According to Redfin, it was followed by Oakland (1.3%), then Pittsburgh and New York (both 1%), and West Palm Beach and Cincinnati (0.9%), highlighting strength in several large coastal and Midwestern markets.

Where did home prices decline the most in July 2026, based on Redfin’s data associated with RKT?

Home prices fell most in Montgomery County, PA, with a 1.1% month-over-month decline in July 2026. According to Redfin, other notable drops occurred in Fort Worth (-0.8%), Austin (-0.6%), Miami (-0.6%), and Virginia Beach (-0.6%), often where sellers significantly outnumber buyers.

What was the annual U.S. home price growth rate in July 2026 according to Redfin, and why might RKT shareholders care?

Annual U.S. home prices rose 3.4% in July 2026, the fastest yearly increase in a year. According to Redfin, steady price appreciation reflects ongoing housing demand, which may support transaction volumes and mortgage-related activity that are important for companies connected to housing finance like RKT.

Which metros had the largest year-over-year home price gains in July 2026 in Redfin’s RHPI report?

San Francisco recorded the largest year-over-year gain at 13.3% in July 2026. According to Redfin, it was followed by Chicago (9.5%), Nassau County, NY (9.4%), Milwaukee (9%), and West Palm Beach (8.9%), underscoring strong appreciation in several major urban and luxury-influenced markets.