The pace of American homes increasing in price was the slowest in 18 months, which together with a recent decline in mortgage rates brought more buyers into the housing market, according to real estate brokerage Redfin.
Home prices in February “were up 5.1 percent on a year-over-year basis—the slowest pace since August 2023,” the company said in a March 18 report. Month-wise, prices went up 0.4 percent in February on a seasonally adjusted basis, equal to the slowest pace since July 2024.
The easing in home price growth came as the weekly average rate for a 30-year fixed-rate mortgage fell slightly last month, moving down from 6.95 percent for the week ending Jan. 29 to 6.76 percent for the week ending Feb. 26….