-
- Home costs ticked up 0.1% month over month on a seasonally changed basis. Prices rose 1.7% on a year-over-year basis– the slowest growth rate on record.
- On a regional level, costs fell in 13 significant cities month over month, with the greatest decreases in Texas and the most significant increase in San Francisco.
U.S. home prices inched up 0.1% month over month in March on a seasonally adjusted basis, the third straight month of the exact same increase.
Prices rose 1.7% from a year earlier, the slowest year-over-year development rate in records going back to 2012. Home-price growth has actually been slowing considering that the start of 2025.
This is according to the Redfin Home Price Index (RHPI), which utilizes the repeat-sales prices method to calculate seasonally changed modifications in single-family home costs. The RHPI measures how price of homes have altered considering that their previous sale– comparable to the S&P Cotality Case-Shiller Home Rate Indices– however is reported about a month previously. March information covers the 3 months ending March 31, 2026. Read the complete RHPI methodology here.
Home-price growth has actually slowed this year on a year-over-year basis due to the fact that need is lukewarm. Numerous prospective purchasers have backed off due to high home loan rates and unpredictability about the U.S. economy and the Iran war. Mortgage rates increased from 6% to 6.4% in March, mainly since the Iran war rose oil prices and pressed markets into turmoil.
However rates are still increasing, not falling, because brand-new listings of homes for sale are decreasing. There are still numerous thousands more home sellers than purchasers in the market, and now some property owners are choosing to stay put rather than list their home into a soft market.
“Price development is losing steam, with the slowest annual gains we’ve seen in a decade– in line with our expectations for the year,” stated Chen Zhao, Redfin’s head of economics research study. “High home loan rates and worldwide uncertainty are triggering some prospective buyers to withdraw, which is putting a cover on home prices. While that can be annoying for homeowners intending to offer, it’s the start of a reset for the housing market as an entire, and might ultimately bring homebuying costs down enough to bring some home hunters back.”
Home Prices Are Falling in 13 Significant Metros, Led by Fort Worth and Austin
Home rates fell in 13 major U.S. metros month over month on a seasonally changed basis in March. Redfin evaluated the 50 most populated metro areas and included in this analysis the 46 with sufficient information.
The greatest decreases were in Fort Worth, TX (-0.8%) and Austin, TX (-0.7%). Next come Nashville, TN (-0.6%), Oakland, CA (-0.6%) and Phoenix (-0.3%). The greatest boosts were in Pittsburgh (2.8%), West Palm Beach, FL (2.1%), Nassau County, NY (1.4%), Chicago (1.3%) and San Francisco (1.2%).
The most significant year-over-year cost declines remained in San Antonio (-4.1%), Jacksonville, FL (-3.5%) and Austin (-3%). The most significant gains were in San Francisco (13%), Chicago (10.7%) and New York (9.2%). Costs are skyrocketing in San Francisco mostly because of the AI boom.
| Metro-Level Summary: Redfin Home Cost Index, March 2026 | ||
| U.S. metro location | Month-over-month modification (seasonally adjusted) | Year-over-year change |
| Anaheim, CA | 0.2% | 3.2% |
| Austin, TX | -0.7% | -3.0% |
| Baltimore, MD | 0.8% | 2.9% |
| Boston, MA | 0.5% | 3.6% |
| Chicago, IL | 1.3% | 10.7% |
| Cincinnati, OH | 0.6% | 3.9% |
| Cleveland, OH | 0.5% | 5.9% |
| Columbus, OH | 0.1% | -0.4% |
| Dallas, TX | 0.0% | -2.9% |
| Denver, CO | 0.1% | -0.3% |
| Detroit, MI | -0.1% | 6.2% |
| Fort Lauderdale, FL | 1.2% | 2.2% |
| Fort Worth, TX | -0.8% | -0.4% |
| Houston, TX | 0.3% | -1.6% |
| Indianapolis, IN | 0.2% | 0.8% |
| Jacksonville, FL | 0.3% | -3.5% |
| Las Vegas, NV | 0.0% | -0.6% |
| Los Angeles, CA | 0.7% | 0.2% |
| Miami, FL | 0.5% | 2.1% |
| Milwaukee, WI | 0.5% | 9.1% |
| Minneapolis, MN | 0.3% | 1.2% |
| Montgomery County, PA | 0.8% | 7.1% |
| Nashville, TN | -0.6% | -0.3% |
| Nassau County, NY | 1.4% | 7.9% |
| Brand-new Brunswick, NJ | 1.1% | 7.6% |
| New York City, NY | 0.9% | 9.2% |
| Newark, NJ | 0.8% | 7.2% |
| Oakland, CA | -0.6% | 1.1% |
| Orlando, FL | -0.1% | -0.6% |
| Philadelphia, PA | -0.1% | 6.2% |
| Phoenix, AZ | -0.3% | -0.9% |
| Pittsburgh, PA | 2.8% | 5.6% |
| Portland, OR | -0.1% | -0.4% |
| Providence, RI | 1.0% | 4.9% |
| Riverside, CA | 0.2% | -1.2% |
| Sacramento, CA | -0.2% | -0.6% |
| San Antonio, TX | -0.2% | -4.1% |
| San Diego, CA | 0.7% | 1.4% |
| San Francisco, CA | 1.2% | 13.0% |
| San Jose, CA | 0.5% | 2.7% |
| Seattle, WA | 0.5% | -0.3% |
| Tampa, FL | 0.3% | 2.5% |
| Virginia Beach, VA | 0.7% | 4.3% |
| Warren, MI | -0.3% | 4.2% |
| Washington, DC | 0.2% | 0.8% |
| West Palm Beach, FL | 2.1% | -0.9% |