Redfin Reports Home Prices Are Rising in Every Major Metro for the First Time Since 2022
Redfin reports that home prices rose year-over-year in all 50 of the most populous U.S. metropolitan areas in December, marking the first such increase since May 2022.
Cleveland saw the largest increase at 15%, followed by Milwaukee (14.5%) and Philadelphia (14%). In contrast, Florida metros experienced the smallest increases, with Tampa at just 0.5%.
According to Redfin Senior Economist Elijah de la Campa, even traditionally affordable areas like Cleveland are experiencing double-digit price hikes, partly due to a shortage of homes for sale. Home prices soared during the pandemic due to low mortgage rates but fell in 2023 as rates climbed. However, prices have rebounded as buyers adjust to higher rates and inventory. In December, the median home price increased by 6.3% year-over-year to $427,670.
In some areas, sellers are holding firm on prices, making it difficult for buyers to negotiate discounts. This trend is particularly pronounced in Cleveland, where local families are often priced out of desirable neighborhoods.
Redfin riporta che i prezzi delle case sono aumentati anno su anno in tutte le 50 aree metropolitane più popolose degli Stati Uniti a dicembre, segnando il primo aumento di questo tipo da maggio 2022.
Cleveland ha registrato l'aumento più grande con il 15%, seguita da Milwaukee (14,5%) e Philadelphia (14%). Al contrario, le aree metropolitane della Florida hanno visto i minori aumenti, con Tampa che si ferma a solo lo 0,5%.
Secondo Elijah de la Campa, economista senior di Redfin, anche le aree tradizionalmente abbordabili come Cleveland stanno subendo aumenti dei prezzi a doppia cifra, in parte a causa di una scarsità di case in vendita. I prezzi delle case sono aumentati durante la pandemia a causa dei tassi di interesse ipotecari ridotti, ma sono diminuiti nel 2023 mentre i tassi sono aumentati. Tuttavia, i prezzi sono rimbalzati mentre gli acquirenti si adattano a tassi più alti e all'inventario. A dicembre, il prezzo mediano delle case è aumentato del 6,3% anno su anno, raggiungendo i $427,670.
In alcune aree, i venditori mantengono saldi i prezzi, rendendo difficile per gli acquirenti negoziare sconti. Questa tendenza è particolarmente pronunciata a Cleveland, dove le famiglie locali sono spesso escluse dai quartieri desiderabili.
Redfin informa que los precios de las casas aumentaron año tras año en las 50 áreas metropolitanas más pobladas de EE.UU. en diciembre, marcando el primer incremento de este tipo desde mayo de 2022.
Cleveland tuvo el mayor aumento con un 15%, seguido por Milwaukee (14,5%) y Filadelfia (14%). En contraste, las áreas metropolitanas de Florida experimentaron los aumentos más pequeños, con Tampa en solo un 0,5%.
Según Elijah de la Campa, economista senior de Redfin, incluso áreas tradicionalmente asequibles como Cleveland están viviendo aumentos de precios de dos dígitos, en parte debido a la escasez de casas en venta. Los precios de las casas se dispararon durante la pandemia a causa de las bajas tasas hipotecarias, pero cayeron en 2023 a medida que las tasas aumentaron. Sin embargo, los precios se han recuperado a medida que los compradores se ajustan a tasas más altas y a la disponibilidad. En diciembre, el precio medio de las casas aumentó un 6,3% año tras año a $427,670.
En algunas áreas, los vendedores mantienen firmes los precios, lo que dificulta que los compradores negocien descuentos. Esta tendencia es particularmente pronunciada en Cleveland, donde las familias locales a menudo quedan fuera de los vecindarios deseables.
레드핀은 주택 가격이 12월에 미국의 50개 대도시 지역 모두에서 전년 대비 상승했다고 보고하며, 이는 2022년 5월 이후 처음 있는 증가라고 전했습니다.
클리블랜드는 15%로 가장 큰 증가폭을 보였고, 뒤를 이어 밀워키 (14.5%)와 필라델피아 (14%)가 차지했습니다. 반면, 플로리다의 대도시는 탬파에서 겨우 0.5% 증가하는 등 가장 적은 증가폭을 보였습니다.
레드핀의 수석 경제학자 엘리야 드 라 캄파에 따르면, 클리블랜드와 같은 전통적으로 저렴한 지역에서도 주택 가격이 두 자릿수로 증가하고 있으며, 이는 판매 중인 주택의 부족 때문입니다. 팬데믹 동안 낮은 모기지 금리 덕분에 주택 가격이 skyrocketing, 하지만 2023년 금리가 상승하면서 이 가격이 하락했습니다. 그러나 가격은 구매자들이 더 높은 금리와 재고에 적응하면서 다시 반등했습니다. 12월에는 주택의 중간 가격이 전년 대비 6.3% 증가하여 $427,670에 달했습니다.
일부 지역에서는 판매자들이 가격을 고수하고 있어 구매자들이 할인을 협상하기 어려운 상황입니다. 이 경향은 특히 클리블랜드에서 두드러지며, 현지 가족들이 원하는 동네에서 배제되는 경우가 많습니다.
Redfin rapporte que les prix des maisons ont augmenté d'une année sur l'autre dans les 50 plus grandes zones métropolitaines des États-Unis en décembre, marquant la première telle augmentation depuis mai 2022.
Cleveland a connu la plus forte augmentation avec 15%, suivi par Milwaukee (14,5%) et Philadelphie (14%). En revanche, les métropoles de Floride ont enregistré les plus faibles augmentations, avec Tampa ne progressant que de 0,5%.
Selon Elijah de la Campa, économiste senior chez Redfin, même dans des zones traditionnellement abordables comme Cleveland, les prix augmentent à deux chiffres, en partie en raison d'un manque de maisons à vendre. Les prix des maisons avaient flambé pendant la pandémie en raison de faibles taux hypothécaires, mais ils ont chuté en 2023 lorsque les taux ont grimpé. Cependant, les prix ont rebondi à mesure que les acheteurs s'adaptent à des taux plus élevés et à l'inventaire. En décembre, le prix médian des maisons a augmenté de 6,3 % d'une année sur l'autre pour atteindre 427 670 $.
Dans certaines régions, les vendeurs restent fermes sur les prix, rendant difficile pour les acheteurs de négocier des réductions. Cette tendance est particulièrement marquée à Cleveland, où les familles locales sont souvent écartées des quartiers prisés.
Redfin berichtet, dass die Hauspreise im Dezember in allen 50 bevölkerungsreichsten Metropolregionen der USA im Vergleich zum Vorjahr gestiegen sind, was den ersten solchen Anstieg seit Mai 2022 markiert.
Cleveland verzeichnete den größten Anstieg mit 15%, gefolgt von Milwaukee (14,5%) und Philadelphia (14%). Im Gegensatz dazu erlebten die Metropolen in Florida die kleinsten Anstiege, wobei Tampa nur um 0,5% wuchs.
Laut Elijah de la Campa, dem leitenden Ökonom von Redfin, erleben selbst traditionell erschwingliche Regionen wie Cleveland zweistellige Preisanstiege, teilweise aufgrund eines Mangels an zum Verkauf stehenden Häusern. Die Hauspreise stiegen während der Pandemie aufgrund der niedrigen Hypothekenzinsen, fielen jedoch 2023, als die Zinssätze stiegen. Dennoch haben sich die Preise erholt, da sich die Käufer an die höheren Zinsen und das Angebot angepasst haben. Im Dezember stieg der Medianpreis für Häuser im Jahresvergleich um 6,3% auf 427.670 $.
In einigen Regionen halten die Verkäufer an den Preisen fest, was es für Käufer schwierig macht, Rabatte auszuhandeln. Dieser Trend ist besonders ausgeprägt in Cleveland, wo lokale Familien oft aus begehrten Vierteln verdrängt werden.
- Home prices rose year-over-year in all 50 major U.S. metros for the first time since May 2022.
- Cleveland saw a 15% increase in home prices, the highest among the top 50 metros.
- Median home prices increased by 6.3% year-over-year to $427,670 in December.
- Florida metros experienced the smallest increases, with Tampa rising just 0.5% year-over-year.
- Many families in traditionally affordable areas like Cleveland are being priced out of desirable neighborhoods.
Insights
The nationwide surge in home prices, particularly in traditionally affordable markets, signals a fundamental shift in the U.S. housing landscape. The 15% year-over-year price increase in Cleveland and similar jumps in Milwaukee and Philadelphia represent a concerning trend of affordability erosion in historically budget-friendly regions. This pattern suggests a secondary market boom as buyers seek alternatives to primary markets.
The data reveals an intriguing geographical divergence: while Midwest markets experience double-digit growth, Florida's major metros show minimal appreciation (Tampa at 0.5%, Orlando at 1.3%). This stark contrast reflects the impact of local market dynamics, with Florida's aggressive construction pipeline and insurance challenges acting as natural price growth limiters.
The return to price appreciation across all 50 major metros for the first time since May 2022 indicates market resilience despite high mortgage rates. However, this broad-based price growth, coupled with the median sale price of
The universal price appreciation across major metros masks a deeper affordability crisis. The normalization of elevated mortgage rates has created a new market equilibrium, but one that's increasingly hostile to first-time buyers. The 6.3% year-over-year price increase combined with high financing costs creates a compound affordability challenge.
Supply constraints are artificially inflating prices, particularly evident in markets like Cleveland where seller psychology (anchored to pandemic-era prices) is creating price rigidity. The contrast between Florida's modest gains and Midwest's surge reflects diverging supply-side responses - Florida's robust construction activity provides a blueprint for price moderation.
The shift in buyer preferences from "beautiful farmhouse on 1.5 acres" to "small home in an urban area" in Cleveland exemplifies the practical compromises forced by market conditions. This downsizing trend could reshape urban demographics and property valuations in secondary markets.
In
By comparison, home prices rose in 41 metros in December 2023.
“Places that have long been known as affordable places to live, like
Home prices soared during the pandemic as record-low mortgage rates fueled homebuyer demand, and then fell in 2023 when rates climbed back up to a two-decade high. In April 2023, prices only rose in just 19 metros—the lowest number since 2012. But prices have recovered over the last year as buyers have grown accustomed to elevated mortgage rates. They’re also climbing because there’s a shortage of homes for sale.
Last month, home prices posted their biggest gain in nearly a year, jumping
Home Prices Are Rising Fastest in the Midwest, Slowest in
In
“A lot of sellers have a very specific number in mind because they saw their neighbor sell for
In
Up until December, it was common to see home prices fall in
To view the full report, including a chart and a metro-level summary, please visit: https://www.redfin.com/news/home-prices-rise-every-metro/
About Redfin
Redfin (www.redfin.com) is a technology-powered real estate company. We help people find a place to live with brokerage, rentals, lending, and title insurance 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. Our rentals business empowers millions nationwide to find apartments and houses for rent. Since launching in 2006, we've saved customers more than
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250121510929/en/
Contact Redfin
Redfin Journalist Services:
Isabelle Novak, (414) 861-5861
press@redfin.com
Source: Redfin
FAQ
What is the significance of RDFN reporting rising home prices in all major metros?
How much did home prices increase in Cleveland according to RDFN?
What was the median home price increase reported by RDFN?
Which metro area saw the smallest increase in home prices according to RDFN?
Why are home prices rising in traditionally affordable areas according to RDFN?
What impact has the pandemic had on home prices according to RDFN?
What does RDFN say about the negotiation power of buyers in the current market?
