Redfin Reports U.S. Home Prices Crept Up 0.3% in January
Rocket Companies, Inc. Class A (RKT)
Company Research
Source: Business Wire
Prices fell month over month in 14 major metros, with the biggest declines in Warren, MI, San Antonio and Minneapolis SEATTLE--(BUSINESS WIRE)--U.S. home prices crept up 0.3% month over month in January on a seasonally adjusted basis, following a 0.2% gain in December. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket.Prices rose 2.1% from a year earlier, down from December’s 2.4% increase. Year-over-year price growth has now slowed for nearly 12 consecutive months.This is according to the Redfin Home Price Index (RHPI), which uses the repeat-sales pricing method to calculate seasonally adjusted changes in prices of single-family homes. The RHPI measures sale prices of homes that sold during a given period, and how those prices have changed since the last time those same homes sold.Price growth is muted because it’s the strongest buyer’s market in recent history—for those who can afford to buy. Many Americans are holding off on purchasing hom
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