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Home Prices Grew by 0.5% in September

This was the fastest rate of growth since April, but year-over-year growth remains slow

October 23, 2024

Home prices grew in September.

Image: whitcomberd / stock.adobe.com

Housing prices continued their steady growth in September. According to housing market platform Redfin, U.S. home prices increased by 0.5% from August to September—the fastest month-over-month growth recorded since April and the third straight month of increases. However, when looking at year-over-year data, home prices only rose 6%, which is the smallest annual increase since December.

Thirteen of the 50 most populous U.S. metro areas recorded a seasonally adjusted drop in home prices in September, month over month.

The biggest decline in September was in San Antonio, TX (-1%), followed by Fort Lauderdale, FL (-0.9%) and Fort Worth, TX (-0.5%). The highest month over month gains were recorded in Nassau County, NY (1.7%), Philadelphia (1.6%) and Virginia Beach, VA (1.4%).

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