Redfin data shows the strongest annual price growth in 10 months, with Ohio metros leading the charge
US home prices hit a record high in June, rising 0.3% month over month, according to the Redfin Home Price Index (RHPI).
That matched May’s pace – the fastest monthly growth since January 2026.
On a year-over-year basis, US home prices rose 3% from June 2025, the fastest annual growth rate in 10 months.
The RHPI uses a repeat-sales method that measures how sale prices change between a home’s successive transactions. It’s similar to the S&P Cotality Case-Shiller Index, but released around one month earlier.
Demand picks up despite rate pressure
The June gains arrived in a challenging environment. Mortgage rates remain elevated, and broader economic uncertainty – partly tied to the ongoing Iran conflict – has kept many prospective buyers on the sidelines.
Even so, early summer demand recovered. Redfin agents in many parts of the country report that there aren’t enough affordable, move-in ready homes on the market to meet demand. That supply shortfall pushed prices to record territory.
For mortgage professionals tracking the affordability ceiling in the US housing market, the June data shows a contradiction: prices are accelerating even as pending sales soften.
The luxury segment is amplifying the trend. Luxury home prices are rising three times faster than non-luxury prices nationwide. Affluent buyers – particularly in San Francisco and South Florida – are pressing ahead with purchases regardless of rate levels.
“This summer’s home sellers and buyers should pay close attention to local trends; every housing market is definitely not equal,” said Sheharyar Bokhari, senior economist at Redfin. “Sellers in strong buyer’s markets like Nashville or Austin should recognize that while prices are rising to record highs nationwide, that’s not necessarily the case in their area.”
Ohio leads metro gains; Sun Belt markets slide
Home prices rose in 30 of the 49 major metros analyzed, with the biggest monthly gains in Columbus, OH (1.2%), Miami, FL (1.1%), and Cincinnati, OH (1%).
Kansas City, MO, and Warren, MI also posted gains 0.8% and above.
The Midwest’s strength continues a pattern that has defined regional price dynamics throughout 2026, with industrial hubs outperforming coastal and Sun Belt metros.
At the other end, prices declined month over month in 19 metros, led by:
- San Francisco (-1%)
- Baltimore (-0.8%)
- San Antonio (-0.4%)
- Denver (-0.4%)
- Phoenix (-0.4%)
Year-over-year declines were sharpest in:
- San Antonio (-2.7%)
- Jacksonville, FL (-1.8%)
- Austin, TX (-1.7%)
- Dallas (-1.6%)
- Phoenix (-1.4%)
Those markets are carrying excess inventory. Sellers are cutting prices to attract buyers.
San Francisco tells a split story. Monthly prices fell 1%, but the city still posted the nation’s largest annual gain – up 10.8% year over year – driven largely by AI-sector demand.
Home price changes by US metro — Redfin RHPI, June 2026. Click to expand table
| Metro area | Month over month | Year over year |
|---|---|---|
| Anaheim, CA | +0.2% | +4.5% |
| Atlanta, GA | +0.7% | +0.2% |
| Austin, TX | +0.7% | -1.7% |
| Baltimore, MD | -0.8% | +2.8% |
| Boston, MA | +0.1% | +1.8% |
| Charlotte, NC | -0.1% | +4.0% |
| Chicago, IL | -0.4% | +9.9% |
| Cincinnati, OH | +1.0% | +4.9% |
| Cleveland, OH | +0.2% | +9.3% |
| Columbus, OH | +1.2% | +5.6% |
| Dallas, TX | +0.1% | -1.6% |
| Denver, CO | -0.4% | +0.6% |
| Detroit, MI | -0.1% | +5.7% |
| Fort Worth, TX | +0.2% | -0.5% |
| Houston, TX | -0.2% | -1.1% |
| Indianapolis, IN | -0.2% | +0.2% |
| Jacksonville, FL | 0.0% | -1.8% |
| Kansas City, MO | +1.0% | +3.6% |
| Las Vegas, NV | -0.3% | +0.6% |
| Los Angeles, CA | +0.5% | +3.4% |
| Miami, FL | +1.1% | +6.7% |
| Milwaukee, WI | -0.2% | +8.8% |
| Minneapolis, MN | +0.1% | +3.2% |
| Montgomery County, PA | -0.1% | +8.5% |
| Nashville, TN | +0.7% | +2.4% |
| Nassau County, NY | +0.5% | +10.1% |
| New Brunswick, NJ | +0.8% | +4.7% |
| New York, NY | +0.4% | +6.5% |
| Newark, NJ | -0.2% | +8.2% |
| Oakland, CA | +0.2% | +0.1% |
| Orlando, FL | +0.3% | -1.2% |
| Philadelphia, PA | +0.3% | +8.0% |
| Phoenix, AZ | -0.4% | -1.5% |
| Pittsburgh, PA | -0.1% | +3.2% |
| Portland, OR | +0.2% | +1.7% |
| Providence, RI | +0.2% | +5.3% |
| Riverside, CA | +0.6% | +0.5% |
| Sacramento, CA | -0.3% | -0.2% |
| San Antonio, TX | -0.4% | -2.7% |
| San Diego, CA | -0.1% | +1.8% |
| San Francisco, CA | -1.0% | +10.8% |
| San Jose, CA | +0.3% | +2.7% |
| Seattle, WA | -0.2% | -0.2% |
| St. Louis, MO | +0.2% | +3.5% |
| Tampa, FL | -0.1% | +3.0% |
| Virginia Beach, VA | +0.6% | +6.2% |
| Warren, MI | +0.8% | +4.8% |
| Washington, DC | +0.4% | +4.3% |
| West Palm Beach, FL | +0.6% | +4.6% |
What these US home prices mean for brokers
The June data reinforces a market divided by geography, price tier, and buyer profile.
The median sales price for an existing US home reached $440,600 in June – an all-time high, according to data from the National Association of Realtors (NAR).
That record comes even as pending home sales posted their steepest monthly drop of 2026, signaling that demand is narrowing rather than broadening.
Brokers in tight-inventory markets hold the stronger hand. In buyer’s markets like Austin and Nashville, pricing strategy matters more than ever.
