Track market-moving stories before they get noisy

The luxury housing market in parts of Florida is outperforming the U.S. luxury market as affluent buyers flock to the Sunshine State, fueling high-end demand Luxury prices in Miami and Tampa are rising faster than anywhere else in the nation In West Palm Beach, luxury sales are rising faster than anywhere else , /PRNewswire/ -- Luxury home-sale prices in Miami rose 18% year over year in July, the biggest increase of the 50 most populous U.S. metros. That's followed by Tampa, where prices increased 15.4%, according to a new report from Redfin, the real estate brokerage powered by Rocket. Luxury prices are growing at least three times faster in those Sunshine State metros as they are in the U.S. as a whole, which posted a 5.3% uptick in July.

Non-luxury prices fell 1.3% in Miami, and they were essentially unchanged (0.3%) in Tampa. Luxury home prices are rising on both Florida coasts even as non-luxury prices stagnate, fueled by an influx of wealthy buyers snapping up high-end properties across the state.

Billionaires, tech entrepreneurs, executives and other affluent Americans are drawn to Florida for its favorable tax environment, warm weather and waterfront lifestyle, keeping demand for luxury homes strong even as the broader housing market softens. Florida attracts affluent buyers from places like New York and California. Miami and West Palm Beach, in particular, have become magnets for the ultra-wealthy. Mark Zuckerberg, for example, recently paid $170 million for an estate on Miami's Indian Creek Island. Florida is home to half of 2026's priciest home sales so far, and those blockbuster deals are helping push luxury prices higher.

Tight inventory is another factor pushing prices up. The total number of homes for sale fell 18.1% year over year in Miami, the third-biggest decline in the U.S., and they fell 16.1% in Tampa.

Luxury Home Sales Are Rising Fastest in West Palm Beach

Sales of luxury homes in West Palm Beach, FL rose 43.9% year over year in July, the biggest increase in the U.S. Nationwide, luxury sales increased 5%.

Pending luxury sales in West Palm Beach rose 20.1% year over year, the second-biggest increase in the nation. West Palm Beach luxury pending sales have been rising by double digits for nearly a year, since October 2025.

West Palm Beach's luxury market is booming partly because the area attracts both affluent retirees and wealthy, working-age buyers, like Miami and other parts of Florida. An influx of finance firms and highly paid executives has helped turn the region into a growing "Wall Street South": Financial firms including Goldman Sachs and Wells Fargo have established major operations in the region. Many of those buyers are also less sensitive to elevated mortgage rates because they can afford to pay cash, helping luxury demand stay strong even as affordability weighs on the broader housing market.

"The luxury market here is insulated; high-end properties priced over $1 million are moving fast," said Jonathan Buch, a Redfin Premier agent in West Palm Beach. "Affluent buyers aren't constrained by mortgage rates and uncertainty in the economy the way average buyers are. Waterfront homes in places like Boca Raton, Delray Beach and Jupiter are always going to be popular; there's no shortage of wealthy people who want a place on the beach."

Luxury Market Summary for Select Florida Metros: Three Months Ending July 2026

Miami

Tampa

West Palm Beach

Median sale price

$5,017,755

$1,644,824

$4,522,818

Median sale price, YoY
change

18 %

15.4 %

7.5 %

Pending home sales, YoY
change

6.7 %

1.4 %

20.1 %

Homes sold, YoY change

8.8 %

6 %

43.9 %

New listings, YoY change

-5.6 %

-11.1 %

21.9 %

Active listings, YoY change

-18.1 %

-16.1 %

-6 %

To view the full report, including the latest market data for both metros above, please visit:
https://www.redfin.com/news/luxury-housing-market-florida-july-2026

About Redfin
Redfin is a technology-driven real estate company with the country's most-visited real estate brokerage website. As part of Rocket Companies (NYSE: RKT), Redfin is creating an integrated homeownership platform from search to close to make the dream of homeownership more affordable and accessible for everyone. Redfin's clients can see homes first with on-demand tours, easily apply for a home loan with Rocket Mortgage, and save thousands in fees while working with a top local agent.

You can find more information about Redfin and get the latest housing market data and research at https://www.redfin.com/news. For more information about Rocket Companies, visit https://www.rocketcompanies.com.

SOURCE Redfin

San Francisco, home to OpenAI and Anthropic, is seeing its housing market boom as AI employees put their money into the housing market. In Seattle, economic jitters in the tech space are dampening homebuying demand.

, /PRNewswire/ -- Home sales jumped 9% year over year in San Francisco in July, while sales fell 9% in Seattle, according to a new report from Redfin, the real estate brokerage powered by Rocket. San Francisco and Seattle are two of America's leading tech hubs, but San Francisco's market is heating up, and Seattle's is cooling down.

Both West Coast cities are packed with highly paid tech workers and many big-name tech employers. Their housing markets have often responded to the same forces: tech hiring, stock-market swings, pandemic-driven remote work and mortgage rates, to name a few. Both markets picked up in the second half of 2020 when mortgage rates plummeted, then cooled sharply when rates shot up and the tech industry stumbled. San Francisco and Seattle were among the nation's fastest-cooling markets by mid-2022. But the cities that entered the housing downturn together are now on very different paths, with San Francisco roaring back as it rides a wave of AI wealth that's heavily concentrated in that city, while Seattle struggles to regain its footing without the same influx of new wealth.

Prices are rising in San Francisco and falling in Seattle. San Francisco's median home-sale price jumped 6% year over year in July to $1.6 million, making it the priciest metro area in the U.S. Redfin recently reported that San Francisco's median home price is now $1 million higher than at its Great Recession bottom. Seattle's median sale price declined 4% to $809,000—roughly half the price of San Francisco's typical home. Seattle's home price decline was the second-biggest among the 50 most populous U.S. metros.

Buyers are snapping up listings in San Francisco, while inventory is piling up in Seattle. The total number of homes for sale fell 18% year over year in San Francisco—the biggest decline in the nation. Inventory rose 17% in Seattle—the biggest increase in the nation. The typical home that sold in San Francisco in July did so in 20 days, 3 days faster than last year. In Seattle, the typical home sold in 24 days, 4 days longer.

Home sales are jumping in San Francisco, and declining in Seattle. In San Francisco, home sales rose 9% from a year earlier—the second-biggest uptick in the country. But in Seattle, home sales fell 9%, the fifth-biggest decline in the U.S.

Seattle is a major buyer's market, with 65% more sellers than buyers, while San Francisco is a balanced market, with 6% fewer sellers than buyers.

Housing markets in the two tech cities have been diverging for the past year. Prices started falling in Seattle on an annual basis about a year ago, while prices in San Francisco have been rising since November. Listings have been piling up in Seattle since 2024, while inventory started depleting in San Francisco last summer. Seattle sales started dropping in April 2025, while San Francisco's sales have been jumping since the start of 2024.

The divergence partly reflects the fortunes of each city's tech sector. San Francisco is benefiting from the AI boom, which is creating wealth and bringing well-paid workers into the city. Seattle, meanwhile, has been weighed down by uncertainty and layoffs in the tech sector. But it's important to note that San Francisco tech workers aren't immune to layoffs and job uncertainty; the fact that the city is home to an extraordinary amount of AI investment and highly compensated workers is offsetting broader tech-sector weakness. That hasn't happened—at least not yet—in Seattle or other major tech hubs.

"AI is reorganizing the tech labor market, with San Francisco and Seattle representing two sides of that transition," said Chen Zhao, Redfin's head of economics research. "In San Francisco today, the AI boom is creating jobs, attracting investment and generating enormous wealth, giving some locals more money to put toward housing. In Seattle, established tech companies are simultaneously investing heavily in AI and rethinking their labor force, which is making some households more cautious about buying a home. AI could ultimately boost productivity and create entirely new categories of jobs, but the future impact is unclear. We're likely to see this dynamic extend well beyond San Francisco and Seattle as time goes on; in some places, AI may create jobs and wealth, and in others, it may contribute to restructuring and weaker worker confidence."

San Francisco's AI Boom Is Contributing to Its Housing Resurgence

San Francisco is the epicenter of the AI boom, which is fueling its housing-market resurgence. The city is home to OpenAI and Anthropic, two of the biggest AI companies in the nation; those two companies alone are creating a new wave of highly paid workers with hefty salaries and signing bonuses, some of which is flowing straight into the housing market.

A recent Redfin analysis found that home prices in the Bay Area's luxury ZIP codes jumped 13.4% in the two years following the launch of OpenAI's ChatGPT, more than double the increase in the next-priciest tier. Local Redfin Premier agent Ali Mafi said he's seen a lot of AI workers use six-figure signing bonuses to buy homes in San Francisco, and homes in the most desirable neighborhoods are selling for as much as $900,000 over asking price. San Francisco luxury pending home sales soared 46% year over year in May, the biggest increase in the nation by far.

Plus, both OpenAI and Anthropic are planning massive IPOs: When they go public, workers will likely get a windfall. Another separate Redfin analysis found that OpenAI and Anthropic employees combined could buy nearly one-third of every single home in San Francisco with their IPO earnings.

"I'm working with a buyer whose budget has doubled over the last year because of his confidence in the future of the AI company he works for," said Kelley Krock, a Redfin Premier agent in San Francisco. "When I started working with him, he had a $2 million budget; we were looking at perfectly nice homes in the East Bay. Then, with the AI boom, he doubled his budget to nearly $4 million, and he's under contract for a gorgeous home in one of the Bay Area's most desirable neighborhoods, overlooking the Lamorinda Valley."

Apart from the AI wealth boom, San Francisco's housing market is thriving partly because it has an unusually wealthy buyer pool. Luxury sales are a big driver of San Francisco's overall market. The scarcity of inventory is making the city's market feel hot: There are just 1.6 months of supply on the market in San Francisco, the lowest number in the U.S. and less than half the national median.

In Seattle, Shaky Tech Job Market Is Weighing on Demand

Seattle is a major AI and tech hub, too, but it hasn't experienced the same concentrated burst of AI-driven wealth as San Francisco. Major local employers—including Amazon, Microsoft, Meta and Expedia—have laid off thousands of workers in the last year or so, directly impacting the finances of a lot of local residents. Those layoffs—along with general labor-market woes—are also making many other Seattleites feel less confident about their job security, and less likely to make a major purchase.

That uncertainty carries extra weight in Seattle, where the typical home sells for $809,000, roughly double the national average. Even highly paid tech workers may hesitate to take on a large mortgage if they're worried their job could disappear or their compensation could shrink.

The slowdown is also disrupting the churn that normally fuels Seattle's housing market. Seattle-area Redfin agents say tech workers aren't switching companies or relocating to Seattle as much as they once did, which means fewer people are using a new job or pay bump as an opportunity to buy or trade up. Buyers are also increasingly anxious about how AI could reshape tech employment.

That helps explain why Seattle pending sales plunged 15.6% year over year while active listings jumped 16.7%: Sellers are showing up, but many of the tech workers who might normally compete for those homes are proceeding cautiously or staying on the sidelines.

"Layoffs in the tech world are dampening homebuying demand in the entire area, and the return-to-office trend is dampening demand outside of the city center," said Sheryl Wingate, a Redfin agent in the greater Seattle area. "Now that so many employers want workers back in the office, living in a suburb that comes with a lengthy drive, bus ride or ferry ride to work is unappealing for a lot of people."

Another reason Seattle's market is slumping: It's one of the most expensive metros in the country, which is pricing out a lot of would-be buyers. San Francisco is more expensive, but its buyer pool includes a growing number of affluent AI workers and others who are benefiting from the AI boom. Seattle doesn't have the same wealth engine offsetting affordability challenges.

Flow of Bay Area Residents Moving to Seattle Has Nearly Dried Up

There are still more Americans moving from the Bay Area to Seattle than the other way around—but the gap has nearly disappeared. Seattle posted a net inflow of just 369 people from the Bay Area in the first quarter, down sharply from 5,166 five years earlier. Migration from the Bay Area to Seattle has steadily dwindled over the past half-decade. This is according to Redfin migration data.

Seattle remains more affordable than San Francisco—the typical Seattleite would spend 51% of their income to buy the median-priced home, while the typical San Franciscan would spend 84%—but its appeal has been tempered by a shakier tech job market. San Francisco, meanwhile, has gained momentum as the epicenter of the AI boom, bringing an influx of highly paid workers and renewed confidence to its economy.

To view the full report, including the latest market data for both metros above, please visit:

https://www.redfin.com/news/two-tech-cities-housing-san-francisco-seattle

About Redfin
Redfin is a technology-driven real estate company with the country's most-visited real estate brokerage website. As part of Rocket Companies (NYSE: RKT), Redfin is creating an integrated homeownership platform from search to close to make the dream of homeownership more affordable and accessible for everyone. Redfin's clients can see homes first with on-demand tours, easily apply for a home loan with Rocket Mortgage, and save thousands in fees while working with a top local agent.

You can find more information about Redfin and get the latest housing market data and research at https://www.redfin.com/news. For more information about Rocket Companies, visit https://www.rocketcompanies.com.

SOURCE Redfin

by Lisa Stiffler on

Alessio Sanfilippo, CEO of Redin. (Redfin Photo) Redfin, the Seattle-based real estate brokerage acquired last year by Rocket Companies, has named Alessio Sanfilippo as CEO.

Sanfilippo was previously Meta’s vice president of insights for Reality Labs, where he led teams working in data science, data engineering and user research to develop the company’s AI-enabled wearable glasses. He earlier served as a VP for Meta-owned WhatsApp overseeing data and user research.

Rocket, the nation’s largest mortgage lender, bought Redfin in a deal worth $1.75 billion. The Redfin brand kept its name and Seattle headquarters as a Rocket subsidiary. Redfin’s longtime CEO Glenn Kelman stepped down in January to join the venture firm Greylock as an executive in residence.

Rocket CEO Varun Krishna had been running Redfin since the exit of Kelman, who led the company for more than 20 years and was “one of the industry’s most charismatic and memorable figures,” Real Estate News noted.

In a release announcing Sanfilippo’s hiring, Krishna said that the company’s new leader has spent his career making “complex products work better for enormous audiences.”

“I worked with Alessio at Intuit and saw firsthand how he combines deep analytical thinking with a real instinct for the consumer,” Krishna added. Sanfilippo’s past roles include leadership positions at SAP, goSeek and Hotwire.

Sanfilippo said he has used Redfin for multiple home purchases, adding that the platform “has always helped make an intimidating process easier to understand.”

The company last week joined Zillow in settling an antitrust case with the Federal Trade Commission and five states, just as a trial was set to begin.

The proposed settlement includes an agreement to undo part of a $100 million partnership that the government said effectively paid Redfin to stop competing in apartment rental advertising. The company will now be required to relaunch its apartment advertising operation within six months.

Former Meta and Intuit executive brings more than two decades of product, data and AI experience to Redfin Click here to download high resolution headshot DETROIT and SEATTLE, August 31, 2026 /PRNewswire/ -- Rocket Companies (NYSE: RKT) today announced that Alessio Sanfilippo has been named Chief Executive Officer of Redfin, effective immediately. Sanfilippo joins Redfin from Meta, where he served as Vice President of Insights for Reality Labs.

More homes are hitting the market, but fewer buyers are purchasing them, giving house hunters an opportunity to negotiate prices and ask for concessions

, /PRNewswire/ -- New listings rose 0.4% from a week earlier during the four weeks ending August 23 to their highest level since April. That's according to a new report from Redfin, the real estate brokerage powered by Rocket. The total number of homes for sale rose 0.5% week over week, hitting their highest level since May.

Pending home sales, meanwhile, fell 1.1% from a week earlier to their lowest level in six months. Would-be buyers are sitting on the sidelines largely because housing costs are high: The median U.S. home-sale price rose 1.9% year over year to over $400,000, and the weekly average mortgage rate is 6.65%—down from a peak of 6.69% two weeks earlier, but still near the highest level in 13 months. Some house hunters are also holding off due to economic uncertainty, with some waiting to see if mortgage rates come down in the next few months.

With inventory rising and demand declining, the homebuyers who are in the market could get a deal. It's a big-time buyer's market in much of the country, led by Miami, Nashville and much of Texas; in those places, buyers may be able to negotiate prices down and/or get concessions. A separate Redfin analysis found that late August or early September are prime times for buyers to score a deal in 11 U.S. metro areas, including much of California, Seattle and a pair of New York City suburbs.

"Buyers have an opportunity to get a deal done before the market potentially picks back up after Labor Day," said Chen Zhao, Redfin's head of economics research. "House hunters should consider homes that have been listed for several weeks; sellers of those homes may be willing to accept an offer under asking price, provide concessions like a mortgage-rate buydown or make repairs based on an inspection. Sellers should resist the urge to price based on what a neighbor got a year or two ago: Pricing a home correctly from the start can be the difference between attracting a serious buyer and lingering on the market."

For Redfin economists' takes on the housing market, please visit Redfin's "From Our Economists" page.

Leading indicators

Indicators of homebuying demand and activity

Value (if applicable)

Recent change

Year-over-year
change

Source

Daily average 30-year fixed
mortgage rate

6.75% (Aug. 26)

Down from 6.8% a
week earlier

Up from 6.61%

Mortgage News Daily

Weekly average 30-year fixed
mortgage rate

6.65% (week ending
Aug. 20)

Lowest level in a
month

Up from 6.58%

Freddie Mac

Mortgage-purchase
applications (seasonally
adjusted)

Down 0.3% from a
week earlier (as of
week ending Aug.
21)

Down 5%

Mortgage Bankers
Association

Google searches of "homes
for sale"

Essentially
unchanged from a
month earlier (as of
Aug. 15)

Essentially unchanged

Google Trends

Touring activity

Up 8% from the start
of the year (as of
Aug. 15)

At this time last year, it
was up 27% from the
start of 2025

ShowingTime

Key housing-market data

U.S. highlights: Four weeks ending Aug. 23, 2026

Redfin's national metrics include data from 900+ U.S. metro areas and are based on homes listed and/or sold during the period.
Weekly housing-market data goes back through 2021. Subject to revision.

Four weeks ending
Aug. 23, 2026

Year-over-year
change

Week-over-week
change (where
applicable)

Notes

Median sale price

$400,649

1.9 %

Median asking price
(seasonally adjusted)

$394,353

Unchanged

Median monthly mortgage
payment (seasonally
adjusted)

$2,600 at a 6.65%
mortgage rate

0.6 %

Pending sales (seasonally
adjusted)

307,830

-3.1 %

-1.1 %

Lowest level since
February

New listings (seasonally
adjusted)

376,235

6 %

0.4 %

Highest level since
April

Active listings (seasonally
adjusted)

1,504,085

1.6 %

0.5 %

Months of supply

3.8

Up from 3.7

4 to 5 months of
supply is considered
balanced, with a lower
number indicating
seller's market
conditions

Share of homes off market in
two weeks

30.8 %

Essentially
unchanged

Median days on market

44

Unchanged

Share of home listings with
price drops

20.8 %

Essentially
unchanged

Share of homes sold above
list price

26.3 %

Up from about 25%

Average sale-to-list price
ratio

98.8 %

Up from 98.6%

Metro-level highlights: Four weeks ending Aug. 23, 2026

Redfin's metro-level rankings data includes the 50 most populous U.S. metros. Select metros may be excluded from time to time to
ensure data accuracy.

Metros with biggest year-
over-year increases

Metros with biggest year-
over-year decreases

Notes

Median sale price

West Palm Beach, FL (10.2%)

Newark, NJ (8.9%)

Pittsburgh (7.9%)

Cleveland (7.5%)

Milwaukee (7.2%)

Seattle (-4.6%)

Austin, TX (-3.7%)

Fort Worth, TX (-1.7%)

San Jose, CA (-1.7%)

Houston (-1.5%)

Pending sales

West Palm Beach, FL (4.7%)

Milwaukee (4.3%)

San Francisco (3.3%)

St. Louis (2.4%)

Cincinnati (2.2%)

Seattle (-18.1%)

Houston (-15.3%)

Denver (-13.2%)

San Diego (-12.9%)

Atlanta (-10.6%)

New listings

Virginia Beach, VA (14.3%)

San Jose, CA (13.3%)

Boston (9%)

St. Louis (8.9%)

Seattle (8.9%)

Dallas (-12.3%)

Atlanta (-9.4%)

San Antonio (-4.6%)

Columbus, OH (-4.2%)

Jacksonville, FL (-4.2%)

To view the full report, including charts, please visit: https://www.redfin.com/news/housing-market-update-new-listings-rise-buyers-market/ 

About Redfin 
Redfin is a technology-driven real estate company with the country's most-visited real estate brokerage website. As part of Rocket Companies (NYSE: RKT), Redfin is creating an integrated homeownership platform from search to close to make the dream of homeownership more affordable and accessible for everyone. Redfin's clients can see homes first with on-demand tours, easily apply for a home loan with Rocket Mortgage, and save thousands in fees while working with a top local agent.

You can find more information about Redfin and get the latest housing market data and research at https://www.redfin.com/news. For more information about Rocket Companies, visit https://www.rocketcompanies.com.

Contact Redfin Journalist Services: 
Emily Rubin
[email protected]

SOURCE Redfin

Redfin reports 14% of U.S. homebuying deals fell through in July, the highest share since November 2023, as buyers gained more power

, /PRNewswire/ -- Nationwide, 14% of home-sale agreements that went under contract in July fell through—the highest share in nearly three years on a seasonally adjusted basis and up from 13.7% a month earlier. That's according to a new report from Redfin, the real estate brokerage powered by Rocket.

While the rate of contract cancellations reached a nearly three-year high in July, the increase from months and years past is small. The share of U.S. homebuying deals that have fallen through has posted small swings, from about 13% to about 14%, for the last four years. Deals are falling through at a higher rate than in 2020-2022, when the U.S. was in a hot seller's market.

This is based on a Redfin analysis of seasonally adjusted MLS pending-sales data. Please note: Homes that fell out of contract during a given month didn't necessarily go under contract that same month.

Contract cancellations are rising a bit because buyers have the power: The number of U.S. homebuyers dropped to a record low in July, and there were a near-record 51% more sellers than buyers in the market. That gives house hunters more options and makes them more likely to walk away if an inspection uncovers problems, an appraisal comes in low or the seller doesn't agree to concessions.

Affordability challenges are making buyers more cautious, too. Home prices remain high and mortgage rates are elevated, leaving many buyers with little financial wiggle room.

"Sometimes buyers get cold feet before the inspection—they revisit the numbers with their lender, get anxious about the payment and never even send the deposit," said Juan Castro, a Redfin Premier agent in Orlando. "Other times, they'll find something relatively minor in the inspection and use it as leverage to ask for major concessions or walk away entirely. Buyers know they have options right now, so they're pushing harder in negotiations. That can be tough for sellers, but it's good news for buyers."

The Silver Lining: Canceled Deals Can Create Opportunities For Sellers and Buyers

For sellers, preparation can reduce the odds of a deal falling apart. One option is to complete a home inspection before listing, which can flag issues that might otherwise surprise a buyer later. Sellers may also consider pre-marketing their home with Redfin Early Access to gauge the market and set the right price from the beginning.

A cancellation can also create an opening for other house hunters. A home that comes back on the market may face less competition, and the seller may be more motivated to reach an agreement the second time around. Buyers who lose out on a home they love can also ask their agent to officially put them in the backup position; if the first deal falls apart, they get another shot without having to start from scratch.

Home-Purchase Cancellations Are Most Common Where Buyers Have the Upper Hand

Deals are falling apart at the highest rate in the South. In Atlanta, 19.8% of home-purchase agreements were canceled in July, the highest share among the 50 most populous U.S. metros with sufficient data.

Next comes Houston, where 19.6% of homebuying contracts fell through. It's followed by San Antonio (18.7%), Las Vegas (18.6%) and Orlando, FL (18.2%). Contract cancellations are most prevalent in those places partly because they're among the strongest buyer's markets in the country. In Houston, for instance, there are 130% more sellers than buyers.

Many of those southern metro areas were popular during the pandemic, when low mortgage rates and remote work encouraged many Americans to move to relatively affordable places. Now, higher costs, a glut of newly built homes and the increasing frequency of natural disasters, among other factors, have left a lot of homes sitting on the market.

Homebuying Deals Are Least Likely to Fall Apart in Long Island and the Bay Area

Contract cancellations were least common in Nassau County, NY in July, with just 3.5% of homebuying deals falling through.

Next come two Bay Area metros: San Francisco and San Jose, where 4.1% and 6.5% of deals fell apart, respectively. San Francisco's housing market is booming, largely because of AI companies paying their workers high salaries and bonuses, making buyers less likely to back out when they go under contract.

Next are Montgomery County, PA (7.3%) and Milwaukee (7.7%). Nassau County, Montgomery County and Milwaukee are three of just six seller's markets in the U.S.; buyers in those places are more motivated to hold deals together because there are fewer homes available to choose from, and sellers hold the power.

To view the full report, including a chart and additional metro-level data, please visit: redfin.com/news/contract-cancellations-july-2026 

About Redfin 
Redfin is a technology-driven real estate company with the country's most-visited real estate brokerage website. As part of Rocket Companies (NYSE: RKT), Redfin is creating an integrated homeownership platform from search to close to make the dream of homeownership more affordable and accessible for everyone. Redfin's clients can see homes first with on-demand tours, easily apply for a home loan with Rocket Mortgage, and save thousands in fees while working with a top local agent.

You can find more information about Redfin and get the latest housing market data and research at https://www.redfin.com/news. For more information about Rocket Companies, visit https://www.rocketcompanies.com.

SOURCE Redfin

Nationwide, home prices grew 0.27% in July, basically flat from 0.28% in June  San Francisco, Oakland and West Palm Beach led the nation in price growth, with affluent house hunters—including AI workers—propping up demand  Prices fell in parts of the East Coast, Midwest and Texas, with some major buyer's markets seeing the biggest dips  , /PRNewswire/ -- U.S. home prices increased 0.27% month over month in July on a seasonally adjusted basis—essentially flat from a 0.28% growth rate in June—according to a new report from Redfin, the real estate brokerage powered by Rocket. Prices rose 3.4% from a year earlier, the fastest annual growth in a year. 

This is according to the Redfin Home Price Index (RHPI), which uses the repeat-sales pricing method to calculate seasonally adjusted changes in single-family home prices. The RHPI measures how sale prices of homes have changed since their previous sale. July data covers the three months ending July 31, 2026.

Flat home-price growth is a reflection of housing market dynamics. Buyers are still contending with high housing costs—including mortgage rates that have sat in the mid-to-high 6% range all summer—which is keeping a lid on demand. At the same time, there are hundreds of thousands more sellers than buyers in the market, which caps price growth. 

Still, the slowdown is very modest: Home prices are still rising, and they're rising at only a marginally slower pace than they were late in the spring. The strong luxury market is one reason why price growth remains fairly strong despite tepid demand. Luxury home prices are rising faster than non-luxury prices; wealthy homebuyers are having an outsized impact on home-price growth, especially in affluent markets like the Bay Area and South Florida. 

"Despite the sluggishness of the overall housing market, home-price growth is proving to be surprisingly resilient," said Chen Zhao, Redfin's head of economics research. "That's partly because today's market is split in two: Many everyday buyers are constrained by affordability challenges, while wealthy buyers have the means to keep competing for desirable homes. That upper-end strength is helping prop up prices even as the broader market cools, giving buyers some bargaining power."

Home Prices Are Rising in Most Major Metros, Led by San Francisco 

Home prices rose in 29 major U.S. metros month over month on a seasonally adjusted basis in July. Redfin analyzed the 50 most populous U.S. metro areas, and included the 49 with sufficient data. 

The biggest uptick was in San Francisco, where home prices rose 1.5% month over month. It's followed by neighboring Oakland, where prices increased 1.3%. Next come Pittsburgh (1%), New York (1%), West Palm Beach (0.9%) and Cincinnati (0.9%).

Prices are surging in the Bay Area largely because the AI boom has led to strong homebuying demand. In West Palm Beach, affluent buyers are driving the market, with luxury homes selling for ultra-high prices. 

Prices declined in 20 of the metros in Redfin's analysis, with the biggest drop in Montgomery County, PA (-1.1% month over month). It's followed by Fort Worth, TX (-0.8%), Austin, TX (-0.6%), Miami (-0.6%) and Virginia Beach, VA (-0.6%).

On a year-over-year basis, prices also rose most in San Francisco in July, which notched a 13.3% annual increase. It's followed by Chicago (9.5%), Nassau County, NY (9.4%), Milwaukee (9%) and West Palm Beach (8.9%). 

The biggest year-over-year declines were in Texas. San Antonio (-2.1%) is first, followed by Fort Worth (-1.3%), Dallas (-1%), Austin (-1%) and Phoenix (-0.9%). Prices are falling in those places because in each of them, there are roughly twice as many sellers as buyers. That leads sellers to price lower to attract house hunters and, in some cases, buyers are able to negotiate prices down. 

To view the full report, including a chart and additional metro-level data, please visit: https://www.redfin.com/news/home-price-index-july-2026 

About Redfin 

Redfin is a technology-driven real estate company with the country's most-visited real estate brokerage website. As part of Rocket Companies (NYSE: RKT), Redfin is creating an integrated homeownership platform from search to close to make the dream of homeownership more affordable and accessible for everyone. Redfin's clients can see homes first with on-demand tours, easily apply for a home loan with Rocket Mortgage, and save thousands in fees while working with a top local agent.

You can find more information about Redfin and get the latest housing market data and research at https://www.redfin.com/news. For more information about Rocket Companies, visit https://www.rocketcompanies.com.

SOURCE Redfin

Redfin reports sellers outnumbered buyers by 51% in July—just shy of December's record high—giving buyers more negotiating power Nearly 80% of major U.S. metros are now buyer's markets, led by Miami, Nashville and a trio of Texas cities , /PRNewswire/ -- There were an estimated 51.3% more home sellers than buyers in the U.S. housing market in July, just shy of December's peak of 51.8% and up from 47.9% the month before. That's according to a new report from Redfin, the real estate brokerage powered by Rocket.

Miami, Nashville and several parts of Texas are the nation's strongest buyer's markets, where sellers outnumber buyers by the widest margins.

When sellers outnumber buyers, buyers typically have more negotiating power because they have options. That's why a market with a lot more sellers than buyers is considered a buyer's market. Redfin defines a market where there are over 10% more sellers than buyers as a buyer's market and a market where there are over 10% fewer sellers than buyers as a seller's market. A market where the gap is plus or minus 10% is considered a balanced market.

It's only a buyer's market for people who can afford to buy. High housing costs and widespread economic uncertainty have caused many would-be buyers to back off in recent years, creating the imbalance of buyers and sellers we see today.

"Buyers are dropping out faster than sellers, giving the buyers who remain more options and more negotiating power," said Asad Khan, a senior economist at Redfin. "At the same time, uncertainty around whether the Fed will hike rates—and this summer's rising mortgage rates—are keeping many would-be buyers on the sidelines. That makes the stretch between now and Labor Day a potential sweet spot for people who need to move: Buyers have leverage, while motivated sellers may be willing to negotiate before the early-fall rush brings some buyers back to the market. This could be the best chance for buyers and sellers to meet in the middle."

Homebuying Demand Dropped to Lowest Level on Record

The number of homebuyers in the market fell to its lowest level on record in July. Nationwide, there were an estimated 966,752 buyers in the market, down 2.5% from the month before.

Meanwhile, there were an estimated 1,462,921 home sellers in the market. That's down 0.3% from a month earlier to the lowest level in a year—but there were still nearly half a million more sellers than buyers.

The seller surplus jumped from June to July because while fewer sellers entered the market, way fewer buyers entered the market. This isn't a story of surging supply so much as sluggish demand; buyers who can't stomach today's prices and mortgage rates are simply waiting on the sidelines, pushing most of the country into buyer's-market territory.

Homebuying demand fell in July largely because mortgage rates soared to their highest level in a year, straining affordability. Widespread economic and geopolitical uncertainty also deterred house hunters. Some prospective sellers pulled back as they took note of slow demand.

Miami Is the Strongest Buyer's Market, Followed By Nashville and Several Texas Metros

More than three-quarters of U.S. housing markets—39 of the 49 U.S. metro areas Redfin analyzed—are buyer's markets. Redfin analyzed the 50 most populous metros, and excluded Fort Lauderdale, FL due to insufficient data.

Miami was the nation's strongest buyer's market in July, with an estimated 154% more sellers than buyers. Next came Nashville, TN (151%), Houston (130%), San Antonio (116%) and Austin, TX (112%).

Miami, Nashville and Texas stand out because they combine the national affordability squeeze with local dynamics that have swelled seller ranks even further. Miami and Nashville saw a wave of new construction and investor activity during the pandemic boom, and that supply is now landing in a market where local buyers are increasingly priced out—particularly in Miami, where rising insurance costs, increasing HOA fees and climate risks have piled onto already-high prices. Houston, San Antonio and Austin, meanwhile, have some of the most active homebuilding pipelines in the country, and new-construction inventory continues to hit the market even as buyer demand cools, leaving sellers there with little leverage.

In Nashville, local Redfin agent Kristin Sanchez says house hunters are breathing a sigh of relief as the buyer's market continues through the summer. Buyers are able to take their time because they know they have the upper hand, and they're often able to get a good deal because sellers are willing to negotiate, Sanchez says. Compare that to a few years ago, when buyers would have likely competed against multiple offers for homes that sold within days.

There Are 6 Seller's Markets, Led By New York City Suburbs

Just six of the major U.S. metro areas Redfin analyzed were seller's markets in July. The metros that are neither seller's nor buyer's markets are considered "balanced" markets.

Nassau County, NY was the strongest seller's market, with 36% fewer sellers than buyers. The other seller's markets were Newark, NJ (-21%), Providence, RI (-17%), Milwaukee (-15%), New Brunswick, NJ (-13%) and Montgomery County, PA (-13%).

The seller's markets are mainly in places where construction of new homes has been constrained for years. In the greater New York City area, demand is also strong because they're close to a major job center. Milwaukee has a relatively strong housing market largely because it's affordable, with home prices below the national median.

Home-sale prices rose an average of 4.2% year over year across the six seller's markets in July. That's compared with a 2.3% increase across the 39 buyer's markets—a signal that in seller's markets, competition among buyers is pushing up home prices.

House Hunters' Leverage Grew in 34 of the 39 Buyer's Markets

Nearly all of the buyer's markets became stronger buyer's markets in July. The surplus of home sellers over buyers grew month over month in 34 of the 39 buyer's markets in the nation.

The surplus increased most in Miami, the strongest buyer's market, where there were 154% more home sellers than buyers in July, up from 134% the month before. The next-biggest monthly increase was in Seattle, where there were 65% more sellers than buyers in July, up from 46% in June. Fort Worth, TX rounds out the top three (86% more sellers than buyers, up from 67%).

Next are two metros that are among the three strongest buyer's markets: Nashville (151%, up from 135%), and Houston (130%, up from 114%).

House hunters lost negotiating power in just five of the buyer's markets. The surplus of sellers over buyers fell from June to July in West Palm Beach, Fl, San Antonio, Pittsburgh, Virginia Beach, VA and Dallas.

To view the full report, including methodology and metro-level insights, please visit: https://www.redfin.com/news/buyers-vs-sellers-july-2026

About Redfin
Redfin is a technology-driven real estate company with the country's most-visited real estate brokerage website. As part of Rocket Companies (NYSE: RKT), Redfin is creating an integrated homeownership platform from search to close to make the dream of homeownership more affordable and accessible for everyone. Redfin's clients can see homes first with on-demand tours, easily apply for a home loan with Rocket Mortgage, and save thousands in fees while working with a top local agent.

You can find more information about Redfin and get the latest housing market data and research at https://www.redfin.com/news. For more information about Rocket Companies, visit https://www.rocketcompanies.com.

SOURCE Redfin

The income needed to afford a typical U.S. starter home is down 1.5% from a year ago, marking eight straight months of declines as price growth cools. The median U.S. household now earns about $17,000 more than what's needed to afford a starter home, up from $12,500 a year ago. Austin leads the nation in improving starter-home affordability, while Detroit, Philadelphia and Cleveland are becoming less affordable—though typical local households can still generally afford starter homes. , /PRNewswire/ -- Americans need to earn $70,693 to afford the typical U.S. starter home, down 1.5% from a year ago, according to a new report from Redfin, the real estate brokerage powered by Rocket. The income needed to afford a starter home—those in the 5th to 35th percentile for sale prices—has been falling since November 2025.

But the declines are shrinking; in January, for instance, the income needed to afford a starter home fell 5.3% year over year. That's largely because mortgage rates have risen throughout 2026, pushing up housing costs.

Redfin considers a home affordable if a buyer taking out a mortgage would spend no more than 30% of their income on their monthly housing payment. Starter homes are those in the 5th to 35th percentile for sale prices. This is based on a Redfin analysis of median home sale prices, prevailing mortgage rates and property-tax payments, and assumes a 15% down payment. This report focuses on June 2026—the most recent period for which data is available.

The typical American household earns an estimated $87,599, about $17,000 more than what's needed to buy the median-priced U.S. starter home. That gap is widening: A year ago, the typical American earned roughly $12,500 more than they needed to buy a starter home.

Affordability is improving more for entry-level homes than for the housing market as a whole. Americans need to earn $109,796 to afford the typical U.S. home for sale, down just 0.5% from an all-time high of $110,382 a year ago.

Affordability is improving a bit faster for starter homes because their prices are increasing at a slower rate; the median price rose 1.2% year over year in June, compared with a 2.2% increase for all homes. The typical household earns about $22,000 less than they need to buy the median-priced home in the overall market. The discrepancy is partly because the overall market is driven by outsized price increases in the luxury segment, and outsized price increases in places like San Francisco and West Palm Beach, where affluent buyers are active. At the same time, some would-be buyers of starter homes are pulling back because they typically earn less money and are more sensitive to affordability pressures.

While starter-home affordability has improved modestly, it is still strained, with sale prices near record highs and mortgage rates elevated near 7%—and it is becoming even more strained, with rates hitting their highest level in a year at the end of July. Even though starter homes cost less than others, they're still often out of reach for first-time buyers, especially in expensive markets like coastal California and New York. First-time buyers are also competing with move-up buyers, who typically have equity from previous sales, for starter homes.

"Affordability has improved modestly for entry-level buyers, but starter homes come with tradeoffs, and finding the right one is a challenge," said Yingqi Xu, a senior economist at Redfin. "The first-time buyers who are in the market are already stretching their budgets to afford monthly mortgage payments, so they're hesitant to take on expensive renovations. Move-in ready starter homes attract strong demand, while fixer-uppers aren't quite as desirable because the buyers who are typically in the market for an inexpensive home don't have much financial cushion for renovations."

Every Single Starter-Home Listing Is Affordable in Almost Half of the Biggest U.S. Metros

All starter-home listings are affordable on the area's median income in nearly half of the metros in this analysis, mostly in the south and Middle America.

Here's the full list of 22 metro areas: Austin, Fort Worth, Charlotte, Dallas, Virginia Beach, Houston, Montgomery County, PA, Washington, D.C., San Antonio, Jacksonville, Milwaukee, Columbus, Cincinnati, Kansas City, Philadelphia, Indianapolis, Baltimore, Warren, Cleveland, St. Louis, Pittsburgh, Detroit.

In Detroit, the median-earning household would spend just 13.9% on a starter home, the smallest share in the U.S., followed by Pittsburgh (14.8%) and St. Louis (14.9%).

In California, Starter Homes Are Out of Reach

While starter homes are affordable in much of the country, they are almost impossible for average locals to buy in the most expensive markets.

In three California metro areas—San Diego, Los Angeles and San Francisco—there are virtually zero starter-home listings affordable on the area's median income. In Anaheim, just 2.6% of starter-home listings are affordable to the typical resident, and in San Jose, it's 7.4%.

In Los Angeles, a household earning the median income would spend 51% of their income on a starter home, the highest share of the metros in this analysis. Next come two other California metros: Anaheim (47.6%) and San Francisco (47.3%).

In the Bay Area, the typical starter home costs nearly $1 million, making it tough for even someone earning the area's high median income to afford. In San Diego and Los Angeles, the typical starter home costs roughly $650,000, putting it out of reach for people earning the median income in those places—which is lower than in the Bay Area, but higher than nationwide.

Starter Homes Are Becoming More Affordable in Most of the Country

Starter-home affordability is improving in 30 of the nation's 50 most populous metro areas. In Austin, TX, homebuyers needed to earn $92,607 to afford a median-priced home, down 6.1% year over year—the biggest decline of the metros in this analysis.

Oakland, CA had the second-biggest decline: Buyers there must earn $162,765 down 6% year over year. Dallas, where buyers must earn $83,096, down 5.1%, rounds out the top three.

On the flip side, it got harder to afford a starter home in Detroit, where buyers must earn 8.3% more than a year ago. It's followed by Cleveland (6.1% more) and Nassau County, NY (3.7% more). Still, buyers in Detroit and Cleveland, which are relatively affordable, typically earn much more than necessary to afford a starter home. In Detroit, for instance, the typical local household earns $65,687, versus the $30,511 necessary to afford the median-priced starter home.

To view the full report, including charts and additional metro-level data, please visit: https://www.redfin.com/news/starter-home-affordability-improving-2026/ 

About Redfin 
Redfin is a technology-driven real estate company with the country's most-visited real estate brokerage website. As part of Rocket Companies (NYSE: RKT), Redfin is creating an integrated homeownership platform from search to close to make the dream of homeownership more affordable and accessible for everyone. Redfin's clients can see homes first with on-demand tours, easily apply for a home loan with Rocket Mortgage, and save thousands in fees while working with a top local agent.

You can find more information about Redfin and get the latest housing market data and research at https://www.redfin.com/news. For more information about Rocket Companies, visit https://www.rocketcompanies.com.

SOURCE Redfin

SEATTLE--(BUSINESS WIRE)--U.S. pending home sales fell to their lowest level since early April during the four weeks ending July 26, dropping 1.7% in the last week alone. That's according to a new report from Redfin, the real estate brokerage powered by Rocket. Tours of home listings are up 15% since the start of the year, compared with a 31% increase at this time last year, according to data from ShowingTime. Homebuying demand is declining partly because mortgage rates are rising: The daily av.

SEATTLE--(BUSINESS WIRE)-- #housingmarket--The number of Canada-based Redfin.com users searching for U.S. homes to buy or rent fell 15.3% year over year in June, according to a new report from Redfin, the real estate brokerage powered by Rocket. That compares with a 10.1% decline in May.Over the past two years, Canadian searches for U.S. homes have dropped roughly 37%, after posting a 25.7% year-over-year decline in June 2025.Redfin search data is an early indicator of housing demand, but searches do not necessa.

SEATTLE--(BUSINESS WIRE)--More than one-third (36%) of U.S. house hunters say a “clean” home—one with high-end filtration systems for air, water, etc.—is one of the top three most important features in the next place they live. This is according to a recent survey commissioned by Redfin, the real estate brokerage powered by Rocket.That makes it the most common priority for prospective homebuyers, along with security systems (38% rank that a top-three priority, statistically equal to the 36% for.

SEATTLE--(BUSINESS WIRE)--Home prices are rising by double digits in a handful of affordable, inland cities anchored by universities, according to a new report from Redfin, the real estate brokerage powered by Rocket. Led by Morgantown, WV, Syracuse, NY and Tuscaloosa, AL, home prices in these college towns are rising more than five times faster than the 2% growth home prices saw nationwide in May. This is from a Redfin analysis of MLS data from the three months ending in May 2026 for college t.

SEATTLE--(BUSINESS WIRE)--Most Americans support government policies that would help make housing more affordable. Roughly four in five (79%) U.S. residents believe there should be tax breaks for first-time homebuyers, and 77% believe there should be policies that make homes more affordable. This is according to a new survey fielded to 4,000 U.S. residents in May 2026 by Ipsos and commissioned by Redfin, the real estate brokerage powered by Rocket. Three-quarters (76%) of U.S. residents say the.

SEATTLE--(BUSINESS WIRE)--Flood-prone America lost far more residents than it gained in 2025, continuing and intensifying a trend that started in 2024, according to a new report from Redfin, the real estate brokerage powered by Rocket.

High-flood-risk U.S. counties lost 63,357 more residents than they gained in 2025. That’s nearly double the net outflow from the year before. In 2024—the first time in five years flood-prone counties posted a net outflow—34,099 more people moved out than in.

The opposite trend is happening in places at low risk of flooding. Low-flood-risk counties gained 69,857 more people than they lost last year—the biggest gain since 2018.

This is based on a Redfin analysis of domestic migration data from the U.S. Census Bureau (excludes immigration) and climate-risk scores from First Street. Redfin defines a high-risk county as one that ranks in the top 10% when it comes to the share of homes facing high flood risk—in other words, counties with 23.7%-99.1% of homes facing high risk. Migration data for 2025 covers July 1, 2024-July 1, 2025.

The significant uptick in movement away from flood-prone places suggests that concerns about flooding and climate are beginning to reshape where Americans choose to settle. While high-flood-risk counties are losing residents, lower-risk counties are seeing strong population gains, indicating that more movers may be prioritizing climate resilience and relative safety in their relocation decisions.

Several forces are likely driving residents away from flood-prone parts of America:

Increasing climate risks. Repeated flooding and stronger storms have increased the physical and financial risks of living in vulnerable communities, particularly in coastal and low-lying regions.Rising cost of homeownership in flood-prone places. Homeowners in high-risk counties are facing rising insurance premiums, higher repair costs and, in some cases, difficulty obtaining or renewing flood coverage altogether. Soaring HOA dues in places that are particularly prone to climate disasters are also a factor.Those pressures have been compounded by the rising cost of homeownership more broadly. Buyers are weighing long-term climate risks when deciding where to move, and many appear to be choosing areas where the threat of flooding—and the costs associated with it—are lower.Reduced community appeal of flood-prone areas. Frequent disasters can also disrupt local economies, damage infrastructure and reduce property values, making flood-prone communities less attractive places to live over time.Destroyed or damaged homes. In some flood-prone counties, thousands of homes have been destroyed or damaged by recent hurricanes, prompting people to move away.Factors other than climate, such as soaring home prices and politics. Soaring housing costs have driven some residents out of flood-prone places. And Redfin agents have said some people who moved to Florida during the pandemic are now leaving because they don’t like the state’s politics.“If you don’t live here and you’re thinking of moving here, hurricane risk is top of mind,” said Kyle Kleinman, a Redfin agent in Miami. “I’ve worked with a lot of house hunters who were searching in Miami from out of town, then they completely backed out. Most of them realized it’s much more expensive to live here than they thought because of flood risk and sky-high insurance premiums. Coupled with high mortgage rates, the expense is through the roof.”

Miami Leads List of Flood-Prone Places Losing Residents

Miami-Dade County lost 72,254 more residents than it gained last year—the largest net outflow among the flood-prone counties in this analysis. That’s also the largest net outflow on record for the county.

Florida counties make up four of the 10 flood-prone places that lost the most residents in 2025: In addition to Miami-Dade, Pinellas (Clearwater and St. Petersburg), Collier (Naples) and Monroe (Key West) counties are on the list.

Harris County, TX, home to Houston, had the second-biggest outflow of residents in 2025. It lost 43,377 more residents than it gained.

Notably, Orleans Parish, LA (New Orleans) and Jefferson Parish, LA (part of the greater New Orleans area) are both on the top 10 list: They have net outflows of 2,724 and 5,553, respectively. In both of those counties, nearly all (roughly 99%) of homes face high flood risk—the highest shares in the nation.

In all but two of these counties, net outflow accelerated in 2025 from 2024. The exceptions are Hudson County, NJ (Jersey City) and Orleans Parish.

“Climate risk is becoming a more important factor when Americans weigh the costs and benefits of living in a certain place,” said Daryl Fairweather, Redfin’s chief economist. “Repeated disruptions and damage from extreme weather are making it more expensive—and less predictable—to own homes and live in the most flood-prone parts of the country. It’s becoming more common for natural disasters to cost homeowners money in the form of rising insurance premiums and repairs. When people’s bank accounts take a hit, they’re more likely to genuinely consider living in a less risky place—or reconsider a move to a risky place.”

Climate Risk Is a Top Reason Americans Are Moving This Year: Redfin Survey

Climate risk is one of the top reasons Americans are looking to move, according to a Redfin survey conducted by Ipsos in May 2026.

The survey asked roughly 1,000 U.S. residents with plans to move in the next 12 months about their reasons for moving. Nearly one in six (16%) said “concern for natural disasters or climate risks in my previous area, including heat, drought, flooding, fire, smoke or poor air quality.”

Respondents could choose from 29 possible reasons; concern for natural disasters was the fourth-most common reason. The only more commonly cited answers were “want more space,” “upgrade to a better home or neighborhood,” “lower overall cost of living,” and “concern for safety/crime.” Concern for natural disasters ranked higher than every other option, including “to be with or nearer to family” and “move for a new job or job relocation.”

Among people planning to move out of state in the next 12 months, one in five (21%) are moving due to concern about natural disasters. That was the second most commonly cited reason; only better weather (22%) surpassed it.

And among people who have experienced a climate disaster and plan to move in the next 12 months, 20% are moving because they’re concerned about natural disasters, one of the most common reasons after “upgrade to a better home or neighborhood.”

A Look Back: America’s Flood-Prone Counties Have Gone From Attracting Residents to Making Them Think Twice

Looking back, America’s flood-prone counties gained residents from 2011, as far back as Redfin’s records go, to 2016.

The trend reversed the next year, when flood-prone places started losing residents, partly because 2017 and 2018 were two of the most destructive hurricane seasons in history. Hurricane Harvey in Texas and Hurricanes Irma and Michael in Florida both caused extensive flooding.

The next sea change happened in 2020, when the pandemic’s record-low mortgage rates and remote work culture motivated many Americans to move to the Sun Belt, especially Miami and other parts of coastal Florida. From 2020 to 2023, flood-prone areas gained residents.

Some Flood-Prone Areas Are Still Gaining More People Than They Are Losing

Among the 310 high-flood-risk counties Redfin analyzed, 128 saw more people move out than move in. The remaining 182 high-risk counties experienced net inflows. Many of the high-risk counties that saw net inflows are in Texas or Florida.

In St. Johns County, FL (just south of Jacksonville), 12,549 more people moved inthan out in 2025—the biggest net inflow of all the high-risk counties in the analysis.

Next comes Fort Bend County, TX (just outside of Houston), with a net inflow of 10,406, followed by Lee County, FL (Fort Myers, Cape Coral), with a net inflow of 8,603.

Note that the high-risk counties that gained residents experienced much smaller inflows than the outflows seen by the counties that lost residents. The county with the most outflow, Miami-Dade, lost more 70,000 residents last year, while the county with the biggest inflow, St. Johns, gained 13,000.

The flood-prone places that gained residents are also generally more affordable than the places that lost them, and that affordability can outweigh climate risks for residents and people looking to move in. For instance, in three of the counties that lost the most residents—Kings County, NY (Brooklyn), Marin County, CA, and Monroe County, FL (Key West)—the median list price for a home is about $1 million or more. All 10 counties that gained the most residents have median list prices under $500,000.

To view the full report, including charts, additional metro-level data and a methodology, please visit: redfin.com/news/climate-migration-real-estate-2026

About Redfin

Redfin is a technology-driven real estate company with the country's most-visited real estate brokerage website. As part of Rocket Companies (NYSE: RKT), Redfin is creating an integrated homeownership platform from search to close to make the dream of homeownership more affordable and accessible for everyone. Redfin’s clients can see homes first with on-demand tours, easily apply for a home loan with Rocket Mortgage, and save thousands in fees while working with a top local agent.

You can find more information about Redfin and get the latest housing market data and research at https://www.redfin.com/news. For more information about Rocket Companies, visit https://www.rocketcompanies.com.

SEATTLE--(BUSINESS WIRE)--More than one in three (36%) American workers are delaying or canceling a major purchase like a home or car due to their feelings about job security, according to a new survey report from Redfin, the real estate brokerage powered by Rocket. On the flip side, 31% have either already made a major purchase sooner than expected, or plan to due to their feelings about job security. This Redfin survey was conducted by Ipsos between March 9-10, 2026. The nationally representa.

SEATTLE--(BUSINESS WIRE)--The median home sale price in the San Francisco metropolitan area jumped 14.4% year over year in March to a record $1.7 million, according to a new report from Redfin, the real estate brokerage powered by Rocket. That's the largest increase since March 2018 and the biggest gain among the 50 most populous metro areas. San Francisco has now reclaimed its title as the major U.S. metro with the highest home prices, eclipsing neighboring San Jose, which held that title for.

SEATTLE--(BUSINESS WIRE)--U.S. home prices inched up 0.1% month over month in March on a seasonally adjusted basis, the third straight month of the same increase. That's according to a new report from Redfin, the real estate brokerage powered by Rocket. Prices rose 1.7% from a year earlier, the slowest year-over-year growth rate in records dating back to 2012. Home-price growth has been slowing since the start of 2025. This is according to the Redfin Home Price Index (RHPI), which uses the repe.

SEATTLE--(BUSINESS WIRE)-- #housingmarket--Land O'Lakes, FL is Redfin's hottest neighborhood of 2026, with nearby Plant City, FL close behind, according to a new report from Redfin, the real estate brokerage powered by Rocket. Oak Creek, WI takes the No. 3 spot. All in all, six of this year's hottest neighborhoods are in the Midwest—the second straight year America's heartland has dominated the list of hottest places for homebuyers and sellers. The suburbs of New York City are also popular with house hunters, w.

SEATTLE--(BUSINESS WIRE)--Redfin (redfin.com), the real estate brokerage powered by Rocket, today launched Sunscore, a property-level score that tells home searchers exactly how much natural light a home receives from 0-100. The launch marks an exclusive U.S. partnership with the developer of Sunscore, Shadowmap, which provides a global interactive 3D map for sun-path visualization, shadow analysis and solar planning. “We know from customer feedback that sunlight is a priority for house hunters.

What's it take to be a neighbor with a sunny disposition?

RKT is betting on AI automation and Redfin-driven distribution to steady earnings as mortgage demand swings, with servicing scale at the center.

Existing Rocket Mortgage serviced clients can save up to $20,000, while new clients can save up to $12,000 when they buy, sell and finance together DETROIT, May 19, 2026 /PRNewswire/ -- Rocket Mortgage and Redfin, both part of Rocket Companies (NYSE: RKT), today announced the launch of a new offering for eligible homebuyers and sellers to save up to $20,000 on their next home when they buy and sell with a Redfin agent and finance with Rocket Mortgage. The savings are delivered through a combination of lender-paid credits from Rocket Mortgage and commission discount from Redfin.

SEATTLE--(BUSINESS WIRE)-- #housingmarket--U.S. investor home purchases fell 6% year over year in the first quarter to their lowest level since 2020, when the start of the pandemic ground homebuying to a halt, according to a new report from Redfin, the real estate brokerage powered by Rocket. Prior to 2020, the last time investors bought so few homes was in 2016. Investor home purchases fell in the first quarter largely because elevated housing costs squeezed potential returns. While mortgage rates were slightl.

SEATTLE--(BUSINESS WIRE)--The typical U.S. homebuyer put down $64,000 in March, 1.5% less than a year earlier, according to a new report from Redfin, the real estate brokerage powered by Rocket. In percent terms, the typical homebuyer puts down 15% of a home's purchase price, down from 16.1% a year earlier. These findings are from a Redfin analysis of county records across 40 of the most populous U.S. metropolitan areas. March 2026 is the most recent month for which data is available. Loan type.