U.S. Home Prices Rose 0.5% in October, Marking a Year of Consistent Growth
U.S. home prices increased 0.5% month-over-month in October 2024, maintaining consistent growth patterns. The year-over-year price increase was 5.9%, marking the lowest annual rise since December. According to the Redfin Home Price Index, monthly gains have remained steady between 0.2% and 0.7% since November 2023. Among major metros, San Antonio saw the largest price decline (-2.9%), while San Francisco led gains (2.3%). High mortgage rates have price growth, but housing inventory shortages continue to drive steady price increases through competitive buying.
I prezzi delle case negli Stati Uniti sono aumentati dello 0,5% mese su mese nell'ottobre 2024, mantenendo schemi di crescita costanti. L'aumento dei prezzi rispetto all'anno scorso è stato del 5,9%, segnando l'incremento annuale più basso da dicembre. Secondo il Redfin Home Price Index, i guadagni mensili sono rimasti stabili tra lo 0,2% e lo 0,7% da novembre 2023. Tra le principali aree metropolitane, San Antonio ha registrato la maggiore diminuzione dei prezzi (-2,9%), mentre San Francisco ha guidato gli aumenti (2,3%). I tassi ipotecari elevati hanno influenzato la crescita dei prezzi, ma le carenze nell'inventario abitativo continuano a guidare aumenti di prezzo costanti attraverso acquisti competitivi.
Los precios de las viviendas en EE.UU. aumentaron un 0,5% mes a mes en octubre de 2024, manteniendo patrones de crecimiento consistentes. El aumento de precios interanual fue del 5,9%, marcando el incremento anual más bajo desde diciembre. Según el Índice de Precios de Viviendas Redfin, las ganancias mensuales se han mantenido estables entre el 0,2% y el 0,7% desde noviembre de 2023. Entre las principales áreas metropolitanas, San Antonio tuvo la mayor caída de precios (-2,9%), mientras que San Francisco lideró las ganancias (2,3%). Las altas tasas hipotecarias han afectado el crecimiento de precios, pero las escasez de inventarios de viviendas continúan impulsando aumentos de precios constantes a través de compras competitivas.
미국 주택 가격은 2024년 10월에 전월 대비 0.5% 상승하여 일관된 성장 패턴을 유지하고 있습니다. 전년 대비 가격 상승률은 5.9%로, 12월 이후 가장 낮은 연간 상승폭을 기록했습니다. 레드핀 주택 가격 지수에 따르면, 월별 증가율은 2023년 11월 이후 0.2%에서 0.7% 사이에서 안정적으로 유지되고 있습니다. 주요 대도시 중에서 샌안토니오가 가장 큰 가격 하락(-2.9%)을 경험한 반면, 샌프란시스코는 상승률이 가장 높았습니다(2.3%). 높은 모기지 금리가 가격 성장에 영향을 미쳤지만, 주택 재고 부족이 경쟁 구매를 통해 지속적인 가격 상승을 이끌고 있습니다.
Les prix des maisons aux États-Unis ont augmenté de 0,5 % mois après mois en octobre 2024, maintenant des schémas de croissance cohérents. L'augmentation des prix d'une année sur l'autre a été de 5,9 %, marquant la plus faible augmentation annuelle depuis décembre. Selon le Redfin Home Price Index, les gains mensuels sont restés stables entre 0,2 % et 0,7 % depuis novembre 2023. Parmi les grandes métropoles, San Antonio a connu la plus forte baisse de prix (-2,9 %), tandis que San Francisco a enregistré les plus forts gains (2,3 %). Des taux hypothécaires élevés ont influencé la croissance des prix, mais les pénuries de logements continuent de pousser à des augmentations de prix stables grâce à des achats compétitifs.
Die Hauspreise in den USA stiegen im Oktober 2024 um 0,5% im Vergleich zum Vormonat und wiesen damit konsistente Wachstumsmuster auf. Der Anstieg der Preise im Jahresvergleich betrug 5,9% und stellte den niedrigsten jährlichen Anstieg seit Dezember dar. Laut dem Redfin Hauspreisindex blieben die monatlichen Zuwächse seit November 2023 stabil zwischen 0,2% und 0,7%. Unter den großen Ballungsräumen verzeichnete San Antonio den größten Preisrückgang (-2,9%), während San Francisco die höchsten Zuwächse (2,3%) hatte. Hohe Hypothekenzinsen haben das Preiswachstum beeinflusst, aber ein Mangel an Wohnraumangebot treibt weiterhin stabile Preiserhöhungen durch wettbewerbsorientierte Käufe voran.
- Consistent monthly price growth of 0.5% in October
- Year-over-year price increase of 5.9%
- Steady monthly gains between 0.2-0.7% since November 2023
- San Francisco market showed strong growth with 2.3% monthly increase
- Eight major metro areas recorded price drops in October
- San Antonio experienced significant price decline of -2.9%
- High mortgage rates limiting buyer participation
- Housing inventory remains constrained
Insights
The consistent monthly price growth of
The regional variations are particularly telling - with San Francisco leading monthly gains at
The current growth pattern, matching 2015-2020 trends, indicates a return to pre-pandemic market behavior. However, the sustained inventory shortage remains a key price driver, creating a floor for values despite affordability challenges from high mortgage rates.
For Redfin (RDFN) and the broader real estate sector, this data presents mixed implications. The steady price growth supports transaction-based revenue streams, but the moderated pace suggests reduced commission potential compared to peak periods. The consistent monthly gains indicate market resilience, which could help stabilize Redfin's business model in a challenging rate environment.
The geographic price variations highlight opportunities in markets showing strength, particularly in San Francisco and Detroit. However, the cooling in sunbelt markets like Tampa and Miami warrants attention. The post-election demand revival could catalyze increased transaction volume, potentially benefiting Redfin's market position and revenue growth in upcoming quarters.
On a year-over-year basis, home prices rose
On a year-over-year basis, home prices rose
Home prices maintained steady growth over the past year, with month-over-month gains ranging between
Elevated mortgage rates have kept a lot of buyers on the sidelines in 2024, essentially putting a cap on how much prices could rise. But there is still a shortage of homes on the market, which means there is enough competition to keep prices ticking steadily higher.
“Many people—especially first-time buyers—were waiting until after the election to make a decision about buying a home,” said Redfin Senior Economist Sheharyar Bokhari. "Now the election is over, we have started to see signs that homebuyer demand is coming back. That could lead to increased competition in coming months, possibly pushing prices higher unless we see a major spike in the number of homes being listed.”
Metro-Level Summary: Redfin Home Price Index, October 2024
Eight of the 50 most populous
The biggest decline in October was in
To view the full report, including a chart and additional metro-level data, please visit: https://www.redfin.com/news/home-price-index-october-2024/
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/20241119548757/en/
Contact Redfin
Redfin Journalist Services:
Angela Cherry
press@redfin.com
Source: Redfin
FAQ
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