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The Redfin Home Price Index report reveals that price growth in the US stabilized in March, with prices up 0.6% from the previous month. Despite the leveling off, prices remain at historic highs due to a shortage of homes for sale. Elevated mortgage rates are constraining buyer budgets, leading to a potential continued stagnation in price growth. Some metropolitan areas experienced price declines, while others saw significant increases.
Il rapporto dell'Indice dei Prezzi delle Case di Redfin rivela che la crescita dei prezzi negli Stati Uniti si è stabilizzata a marzo, con un aumento dello 0,6% rispetto al mese precedente. Nonostante il livellamento, i prezzi rimangono su livelli storici elevati a causa della scarsità di case in vendita. Gli elevati tassi ipotecari stanno limitando i budget degli acquirenti, portando a una potenziale stagnazione continuata nella crescita dei prezzi. Alcune aree metropolitane hanno registrato cali di prezzo, mentre altre hanno visto aumenti significativi.
El informe del Índice de Precios de Viviendas de Redfin revela que el crecimiento de los precios en EE. UU. se estabilizó en marzo, con un aumento del 0,6% respecto al mes anterior. A pesar de esta estabilización, los precios se mantienen en máximos históricos debido a la escasez de viviendas en venta. Las altas tasas hipotecarias están limitando los presupuestos de los compradores, lo que lleva a una posible estancamiento continuo en el crecimiento de los precios. Algunas áreas metropolitanas experimentaron descensos en los precios, mientras que otras registraron incrementos significativos.
레드핀 주택 가격 지수 보고서에 따르면 미국의 가격 상승률이 3월에 안정화되었으며, 전월 대비 0.6% 상승했습니다. 평준화에도 불구하고 주택 판매 부족으로 인해 가격은 역사적인 최고 수준을 유지하고 있습니다. 높은 모기지 이자율로 인해 구매자의 예산이 제한되어 가격 상승의 지속적인 정체가 예상됩니다. 일부 대도시 지역에서는 가격이 하락한 반면, 다른 지역에서는 큰 증가를 경험했습니다.
Le rapport de l'indice des prix des maisons de Redfin révèle que la croissance des prix aux États-Unis s'est stabilisée en mars, avec une augmentation de 0,6% par rapport au mois précédent. Malgré cette stabilisation, les prix restent à des niveaux historiquement élevés en raison d'une pénurie de maisons à vendre. Les taux hypothécaires élevés restreignent les budgets des acheteurs, entraînant une stagnation potentielle continue de la croissance des prix. Certaines zones métropolitaines ont connu des baisses de prix, tandis que d'autres ont enregistré des augmentations significatives.
Der Redfin Hauspreisindex-Bericht zeigt, dass das Preiswachstum in den USA im März stabilisiert wurde, mit einem Anstieg von 0,6% gegenüber dem Vormonat. Trotz der Stabilisierung bleiben die Preise aufgrund eines Mangels an zum Verkauf stehenden Häusern auf historisch hohen Niveaus. Hohe Hypothekenzinsen begrenzen die Budgets der Käufer, was zu einer potenziell anhaltenden Stagnation des Preiswachstums führen könnte. Einige Metropolregionen verzeichneten Preisrückgänge, während andere signifikante Steigerungen erlebten.
Positive
U.S. home prices climbed 0.6% in March on a seasonally-adjusted basis, matching February's gain.
Year-over-year, prices rose 7.3%, little changed from the prior month.
Elevated mortgage rates are capping home price growth, as buyers' budgets are constrained.
Shortage of homes for sale is buoying prices, keeping them at historic highs.
Price growth may continue to stagnate as mortgage rates remain high.
Price decline was observed in several metropolitan areas, including San Jose, San Antonio, and Fort Worth.
Price increase was notable in Providence, Montgomery County, and Nassau County.
Negative
Elevated mortgage rates are straining buyer budgets, potentially leading to further stagnation in price growth.
Price declines were reported in several major metropolitan areas, indicating localized market challenges.
Price growth is leveling off as elevated mortgage rates strain buyer budgets, but prices are still at historic highs because there aren’t enough homes for sale
SEATTLE--(BUSINESS WIRE)--
(NASDAQ: RDFN) — U.S. home prices climbed 0.6% from a month earlier on a seasonally-adjusted basis in March, matching February’s 0.6% month-over-month gain, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage.
On a year-over-year basis, prices rose 7.3%, also little changed from the prior month’s 7% annual increase.
This is according to the Redfin Home Price Index (RHPI), which uses the repeat-sales pricing method 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’s similar to the S&P CoreLogic Case-Shiller Home Price Indices but publishes more than one month earlier. March data covers the three months ending March 31, 2024.
“Elevated mortgage rates are putting a cap on home price growth. Sellers can’t jack up prices like they did during the pandemic because buyer budgets are already constrained by 7% interest rates,” said Redfin Senior Economist Sheharyar Bokhari. “But while price growth is leveling off, prices remain at historic highs. That’s because a shortage of homes for sale—largely driven by the mortgage-rate lock-in effect—is buoying prices.”
Price growth may continue to stagnate in the coming months as mortgage rates stay high. The Federal Reserve recently warned that elevated inflation will probably delay the interest-rate cuts they had been planning this year.
Redfin (www.redfin.com) is a technology-powered real estate company. We help people find a place to live with brokerage, rentals, lending, title insurance, and renovations services. We run the country's #1 real estate brokerage site. Our customers can save thousands in fees while working with a top agent. Our home-buying customers see homes first with on-demand tours, and our lending and title services help them close quickly. Customers selling a home can have our renovations crew fix it up to sell for top dollar. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than $1.6 billion in commissions. We serve more than 100 markets across the U.S. and Canada and employ over 4,000 people.
Redfin’s subsidiaries and affiliated brands include: Bay Equity Home Loans®, Rent.™, Apartment Guide®, Title Forward® and WalkScore®.
For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin's press release distribution list, email press@redfin.com. To view Redfin's press center, click here.
