U.S. August HomePrice Report: Prices Rise 0.25% As BuyerMarket Conditions Strengthen

According to Redfin RepeatSales HomePrice Index (RHPI), seasonallyadjusted singlefamily home prices rose 0.25 % monthonmonth in August 2026. Momentum softened marginally from July’s 0.26 % and June’s 0.27 %. Yearonyear prices climbed 3.7 %, marking the strongest annual reading over the past 12month period. The August dataset covers threemonth transaction windows ending August 31 2026.

August represented the strongest buyer’s market on record. Nationwide active listings outnumber prospective buyers by 58 %; within parts of the SunBelt, available housing stock is more than double buyer demand. Elevated housing expenses and macroeconomic uncertainty weigh on purchasing activity. Still, substantial homeowner equity discourages deep price cuts and establishes a floor for property values. Affluent buyers in Florida and the AIdriven highend SanFrancisco housing segment also underpin overall price performance.

Chen Zhao, Redfin Chief Economist, commented: Decelerating price growth benefits homeshoppers, who can compare properties without facing rapid price inflation and enjoy improved negotiating leverage. Overambitious asking prices extend daysonmarket and often force eventual price reductions for sellers. Realistic initial pricing or Redfin’s “comingsoon” prelisting feature can help test market appetite.

MetroLevel Market Divergence

✅ Top MonthonMonth Gains (August): St. Louis (+1.1 %), Pittsburgh (+1.0 %), San Antonio (+0.9 %), San Jose (+0.9 %), Baltimore (+0.9 %). St. Louis attracts buyers with affordable baseline pricing; SanJose receives spillover demand from the hot SanFrancisco market.

❌ Top MonthonMonth Declines (August): Austin (0.7 %), Charlotte (0.7 %), Milwaukee (0.6 %), Warren (0.6 %), Fort Lauderdale (0.5 %).

✅ Top YearonYear Gains: San Francisco (+12.0 %), West Palm Beach (+10.4 %), Chicago (+9.2 %), Nassau County (+8.1 %), Miami (+8.0 %). Only five major U.S. metros remain sellermarkets, including SanFrancisco and Nassau County, where biddingwar dynamics lift sale prices.

❌ Metros with YearonYear Price Drops (5 total): Dallas (1.4 %), Austin (1.1 %), Fort Worth (0.7 %), San Antonio (0.4 %), Seattle (0.1 %). Texas markets feature extreme supply surplus and sit firmly in buyermarket territory, compelling sellers to offer price concessions to attract purchasers.

Data source: Redfin RHPI Home Price Index