Redfin Reports US Home Prices Rose 0.25% in September
US home prices grew modestly during September, up 0.25 percent compared to August on a seasonally adjusted basis. As the latest statistics show, prices still climbed despite buyers having more leverage in several parts of the country.
The monthly increase for the last period was slightly higher than the 0.21 percent increase in August. On a year-over-year basis, housing prices grew 3.8 percent in September, the highest increase since June 2025.
The numbers come from the Redfin Home Price Index (RHPI) that tracks changes in single-family home sale prices based on repeated sales of the same properties. The September report reflects the three-month period ended September 30, 2026.
Pennsylvania Markets Record Strong Monthly Growth
Home prices went up in 34 out of the 50 most populous metro areas in the U.S. This month, Philadelphia had the highest jump with 1.9% followed by Pittsburgh with 1.3%
Miami also went up 1.3%, Chicago and San Francisco both had 1% increases.
The report noted that comparatively affordable homes in markets such as Philadelphia, Pittsburgh and Chicago were attracting stronger demand. In San Francisco, activity in the artificial intelligence sector was identified as a factor supporting the local housing market.
San Francisco also led the country in annual price growth. Home prices there climbed 14% compared with September last year. West Palm Beach, Florida, followed with a 10.4% increase, while Chicago recorded 10.3% growth. Miami and Philadelphia posted annual gains of 8.2% and 7.6%, respectively.
Texas Markets See Price Declines
Not all major housing markets experienced increases. Home prices declined in 16 of the 50 metropolitan areas covered by the report.
Fort Worth, Texas, recorded the steepest monthly drop, with prices falling 0.9%. New Brunswick, New Jersey, followed with a 0.6% decline. Dallas, Seattle and Nassau County, New York, each registered a 0.4% decrease.
On an annual basis, prices fell in just six major metropolitan areas. Five were in Texas, while Seattle was the other market to record a decline. San Antonio posted the largest annual decrease at 2.1%, followed by Dallas at 1.5%. Austin and Seattle each recorded a 0.2% drop, while Houston saw a 0.1% decline.
The report attributed the softer prices in Fort Worth and Dallas partly to conditions favouring buyers, where sellers may need to adjust their asking prices to attract interest.
Despite these local declines, the national index remained positive in September. Redfin also pointed to homeowners' accumulated equity, some sellers' decisions to withdraw listings rather than accept lower offers, and stronger demand for luxury properties as factors helping support home prices.
