Home Prices in July Fall in 39 of the Top 50 U.S. Metros
In July, home prices ticked down 0.1% overall, marking the third consecutive month with a decline in housing prices. May, June and July are three out of only five monthly declines recorded by Redfin’s Home Price Index (RHPI) since 2012. Furthermore, the RHPI recorded price growth rate at 2.9% on a year-over-year basis, the lowest since 2012, with the halt in price growth reflecting economic uncertainty and elevated interest rates making it difficult for prospective homebuyers to consider a move.
