{"id":86182,"date":"2026-06-23T05:00:51","date_gmt":"2026-06-23T12:00:51","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=86182"},"modified":"2026-06-22T12:04:19","modified_gmt":"2026-06-22T19:04:19","slug":"home-price-index-may-2026","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/home-price-index-may-2026\/","title":{"rendered":"U.S. Home-Price Growth Accelerated in May, Fueled by April\u2019s Brief Mortgage-Rate Reprieve"},"content":{"rendered":"<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong><i>Home prices rose 0.3% month over month on a seasonally adjusted basis.\u00a0<\/i><\/strong><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong><i>Prices rose 2.5% on a year-over-year basis\u2013the fastest growth rate in six months.\u00a0<\/i><\/strong><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong><i>On a local level, prices rose in 29 major metros month over month, with the biggest increases in Cleveland, Providence and New York.\u00a0<\/i><\/strong><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><strong><i>This is based on the Redfin Home Price Index (RHPI), a repeat-sales measure of seasonally adjusted home-price changes that is reported about a month earlier than the Case-Shiller Index.<\/i><\/strong><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">U.S. home prices increased 0.3% month over month in May on a seasonally adjusted basis, the fastest growth rate since January.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Prices rose 2.5% from a <\/span><i><span style=\"font-weight: 400;\">year<\/span><\/i><span style=\"font-weight: 400;\"> earlier, the fastest year-over-year growth in six months. <\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-86183 size-full\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2026\/06\/Screenshot-2026-06-22-at-8.58.09-AM.png\" alt=\"\" width=\"796\" height=\"628\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2026\/06\/Screenshot-2026-06-22-at-8.58.09-AM.png 796w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2026\/06\/Screenshot-2026-06-22-at-8.58.09-AM-300x237.png 300w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2026\/06\/Screenshot-2026-06-22-at-8.58.09-AM-768x606.png 768w\" sizes=\"(max-width: 796px) 100vw, 796px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">This is according to the Redfin Home Price Index (RHPI), which uses the repeat-sales pricing method to calculate seasonally adjusted changes in single-family home prices. The RHPI measures how sale prices of homes have changed since their previous sale\u2014similar to the S&amp;P Cotality Case-Shiller Home Price Indices\u2014but is reported about a month earlier. May data covers the three months ending May 31, 2026. Read the full RHPI methodology <\/span><a href=\"https:\/\/www.redfin.com\/news\/redfin-home-price-index\"><span style=\"font-weight: 400;\">here<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Home-price growth picked up steam in May because that month\u2019s prices reflected deals that went under contract in April, when homebuying demand strengthened as mortgage rates declined. Closed U.S. home sales hit their <\/span><a href=\"https:\/\/www.redfin.com\/news\/rising-rates-stall-housing-market-momentum\/\"><span style=\"font-weight: 400;\">highest level<\/span><\/a><span style=\"font-weight: 400;\"> since 2022 in May, and while inventory is also <\/span><a href=\"https:\/\/www.redfin.com\/news\/rising-rates-stall-housing-market-momentum\/\"><span style=\"font-weight: 400;\">ticking up<\/span><\/a><span style=\"font-weight: 400;\">, there still aren\u2019t enough desirable, affordable homes on the market.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Note that <\/span><i><span style=\"font-weight: 400;\">pending <\/span><\/i><span style=\"font-weight: 400;\">sales\u2013a more current gauge of the market\u2013have since flattened, largely because mortgage rates <\/span><a href=\"https:\/\/www.freddiemac.com\/pmms\"><span style=\"font-weight: 400;\">rose throughout May<\/span><\/a><span style=\"font-weight: 400;\">. But because new listings are also <\/span><a href=\"https:\/\/www.redfin.com\/news\/housing-market-update-housing-payments-climb-buyers-back-away\/\"><span style=\"font-weight: 400;\">flattening<\/span><\/a><span style=\"font-weight: 400;\">, home prices may continue to rise at their current pace.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cBuyers got a boost from lower mortgage rates in the spring, and that momentum is showing up in prices,\u201d said <a href=\"https:\/\/www.redfin.com\/news\/author\/sheharyarbokhari\/\">Sheharyar Bokhari<\/a>, a senior economist at Redfin. \u201cAnd even though there are <\/span><a href=\"https:\/\/www.redfin.com\/news\/buyers-vs-sellers-may-2026\/\"><span style=\"font-weight: 400;\">many more home sellers<\/span><\/a><span style=\"font-weight: 400;\"> than buyers in the market, the most desirable homes are still attracting multiple offers, driving up prices. Buyers who are waiting for prices to fall may not get much relief; instead, they may consider expanding their search area or negotiating for concessions\u2013like mortgage-rate buydowns or closing-cost credits\u2013from sellers.\u201d<\/span><\/p>\n<h3><b>Home Prices Are Rising in Most Major Metros, Led by Ohio and the Northeast\u00a0<\/b><\/h3>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Home prices rose in 29 major U.S. metros month over month on a seasonally adjusted basis in May. Redfin analyzed the 50 most populous U.S. metro areas and included the 49 with sufficient data.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The biggest uptick was in Cleveland, where home prices rose 2.5% month over month. It\u2019s followed by Providence, RI (1.8%), New York (1.8%), Miami (1.5%) and Columbus, OH (1.3%). Providence is one of just seven <\/span><a href=\"https:\/\/www.redfin.com\/news\/buyers-vs-sellers-may-2026\/\"><span style=\"font-weight: 400;\">seller\u2019s markets<\/span><\/a><span style=\"font-weight: 400;\"> in the U.S., and Cleveland and New York are balanced markets; buyers are more likely to bid up prices in those places than in the 35 buyer\u2019s markets.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Prices declined in 19 of the metros in this analysis, with the biggest drop in Riverside, CA (-1.9%). It\u2019s followed by San Jose, CA (-1.7%), San Francisco (-1.3%), Phoenix (-1%) and Denver (-0.7%).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While San Francisco prices fell month over month, they\u2019re soaring on a year-over-year basis, largely <\/span><a href=\"https:\/\/www.redfin.com\/news\/san-francisco-home-prices-march-2026\/\"><span style=\"font-weight: 400;\">because of the AI boom<\/span><\/a><span style=\"font-weight: 400;\">. San Francisco home prices rose 11.7% year over year, the biggest increase in the U.S. It\u2019s followed by Chicago (10.7%), Newark, NJ (10.2%), Milwaukee (9.8%) and Nassau County, NY (9.8%).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The biggest year-over-year <\/span><i><span style=\"font-weight: 400;\">declines <\/span><\/i><span style=\"font-weight: 400;\">were in Austin, TX (-3.8%), San Antonio (-2.4%), Dallas (-2.2%), Jacksonville, FL (-2.1%) and Orlando, FL (-2%).\u00a0<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td colspan=\"3\"><b>Metro-Level Summary: Redfin Home Price Index, May 2026<\/b><\/td>\n<\/tr>\n<tr>\n<td><b>U.S. metro area<\/b><\/td>\n<td><b>Month-over-month change, seasonally adjusted<\/b><\/td>\n<td><b>Year-over-year change<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Anaheim, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Atlanta, GA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-1.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Austin, TX<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-3.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Baltimore, MD<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Boston, MA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Charlotte, NC<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Chicago, IL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.7%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Cincinnati, OH<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">5.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Cleveland, OH<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">9.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Columbus, OH<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.7%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Dallas, TX<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-2.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Denver, CO<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Detroit, MI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">6.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Fort Worth, TX<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.7%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Houston, TX<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-1.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Indianapolis, IN<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.0%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Jacksonville, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-2.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Kansas City, MO<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Las Vegas, NV<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Los Angeles, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">2.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Miami, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.3%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Milwaukee, WI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">9.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Minneapolis, MN<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Montgomery County, PA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">9.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Nashville, TN<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Nassau County, NY<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">9.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">New Brunswick, NJ<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">New York, NY<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">7.7%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Newark, NJ<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">10.2%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Oakland, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Orlando, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-2.0%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Philadelphia, PA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">8.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Phoenix, AZ<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-1.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-1.7%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Pittsburgh, PA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Portland, OR<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.6%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Providence, RI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.8%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Riverside, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-1.9%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Sacramento, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">San Antonio, TX<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.0%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-2.4%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">San Diego, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">San Francisco, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-1.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">11.7%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">San Jose, CA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-1.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Seattle, WA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.7%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.1%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">St. Louis, MO<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.5%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Tampa, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.0%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Virginia Beach, VA<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.1%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.6%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Warren, MI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">-0.3%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.8%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Washington, DC<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.5%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3.0%<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">West Palm Beach, FL<\/span><\/td>\n<td><span style=\"font-weight: 400;\">0.4%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">4.5%<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Home prices rose 0.3% month over month on a seasonally adjusted basis.\u00a0 Prices rose 2.5% on a year-over-year basis\u2013the fastest growth rate in six months.\u00a0 On a local level, prices rose in 29 major metros month over month, with the biggest increases in Cleveland, Providence and New York.\u00a0 This is based on the Redfin Home [&hellip;]<\/p>\n","protected":false},"author":13153,"featured_media":86184,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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