In January 2026, housing prices in the United States, according to the Redfin Index (RHPI), increased by 0.3% compared to the previous month, seasonally adjusted, and by 2.1% year-on-year. In December, the annual growth was 2.4%. Thus, the year-on-year price increase has been slowing for almost 12 months in a row.
Real estate prices decreased
- The largest monthly decrease was observed in Warren, Michigan (-1.5%), San Antonio (-1%) and Minneapolis (-0.8%). The largest increases were observed in Philadelphia (2.6%), Providence, Rhode Island (2.5%) and San Francisco (2.1%).
- Year-on-year prices decreased in 16 major cities, with the largest declines occurring in Austin, Texas (-4.2%), San Antonio (-3.8%) and Jacksonville, Florida (-3%). The largest increases were observed in San Francisco (14.3%), New York (11.1%) and Milwaukee (9.2%).
The country has established the strongest buyer's market in recent history - for those who can afford to buy. Many Americans are in no hurry to buy a home because mortgage rates are still more than twice the historical minimum recorded during the pandemic. As a result, there are 47% more sellers in the market than buyers, which means that the latter have an advantage in price negotiations.
Prices are still rising slightly, but this growth pales in comparison with the figures of recent years: during the pandemic, they increased by 21% compared to the previous year."Mortgage rates have decreased in recent weeks, which has increased the purchasing power of those looking for housing, but many are still waiting for rates to fall even further..."That's right," said Chen Zhao, head of economic research at Redfin.
The average rate on a 30-year fixed-rate mortgage is currently 6.09%.
Source: Redfin
.jpg)
.jpg)