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Here’s Where US Home Prices Are Rising—and Falling—the Most
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Key Points
- According to Redfin data, house prices rose the fastest in the Midwest. Milwaukee, Detroit and Cleveland are all at the highest point of the median rise in the 50 most populous U.S. metro area.
- Texas and Florida have the most prices as higher supply levels give buyers the upper hand.
- Median U.S. home prices rose 3% year-on-year, while pending sales fell the most since September 2023.
According to new data, the Midwest is the most affordable home buying area in the United States, but it is also the fastest-rising area for housing prices.
Milwaukee ranked the list of median listing prices in February with the most median listing price increase, up 20% year-on-year to $330,000. Detroit; Nassau County, NY; San Jose, California; Cleveland is in the top five, according to data released Friday by residential real estate agency Redfin. Mortgage sponsor.
Redfin said the median home prices nationwide climbed just over 3% to about $425,000, the slowest growth in six months. We wait for home sales to drop by 6% Year-on-yearThis is the biggest drop since September 2023.
Not enough Houses for sale Meet the needs of many places and lead to higher prices. While home sales in the U.S. start slowly in 2025, economists and real estate professionals hope they can Answer this spring With buyers returning to the market.
According to Redfin, in Austin, Texas, median home prices fell nearly 3% year-on-year, the biggest drop among the 50 most populous metropolis. Tampa, Florida; San Antonio and Houston; Atlanta; Jacksonville, Florida brings together top disconnectors. In Texas and Florida, home supply is higher Buyer On the academy.
The typical U.S. home contracted in February lasted 54 days on the market. According to Redfin data, this is six days more than the six days a year ago, the longest sales period since February 2020.
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