{"id":77531,"date":"2024-02-20T09:38:57","date_gmt":"2024-02-20T17:38:57","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=77531"},"modified":"2024-02-20T09:38:57","modified_gmt":"2024-02-20T17:38:57","slug":"redfin-home-price-index-january-2024","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/redfin-home-price-index-january-2024\/","title":{"rendered":"Redfin Home Price Index: Price Growth Holds Steady at Start of Year"},"content":{"rendered":"

Home prices rose 0.5% month over month in January, on par with December\u2019s gain, as the drop in mortgage rates at the end of last year gave buyers a bit more purchasing power.<\/i><\/strong><\/p>\n

U.S. home prices climbed 0.5% from a month earlier in January, matching the 0.5% gain seen in both December and November. On a year-over-year basis, prices rose 6.7%\u2014the largest increase in a year.<\/span><\/p>\n

This is according to the Redfin Home Price Index (RHPI), which uses the repeat-sales pricing <\/span>method<\/span><\/a> 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. It\u2019s similar to the S&P CoreLogic Case-Shiller Home Price Indices but publishes more than one month earlier. January data covers the three months ending Jan. 31, 2024. Read the full RHPI methodology <\/span>here<\/span><\/a>.<\/span><\/p>\n