Redfin: In June, the month-on-month housing prices in the United States fell by 0.1%, marking the third consecutive month of slight declines in prices after seasonal adjustment.

Redfin reported that in June, housing prices in the United States fell by 0.1% on a month-over-month basis, marking the third consecutive month of slight declines after seasonal adjustments. Prices were up 3.4% year-over-year, the lowest increase since June 2023. This year, an increase in housing supply led to weakened demand, causing price growth to stall. Sellers significantly outnumbered buyers, who were also impacted by rising mortgage rates and high prices. Redfin stated that in June, housing prices in over half of the 50 largest metropolitan areas in the US experienced consecutive monthly declines for the second month in a row. However, many buyers are taking a wait-and-see approach due to high mortgage rates. Redfin predicts that prices will fall by around 1% by the end of the year as low demand continues to weigh on the market.