Redfin Real-Time Home Price Tracker: Home Prices Hit Two-Year High in August, Up 5% From 2011

Here's the latest Redfin Real-Time Price Tracker: a monthly report on home prices, sales and inventory across 19 U.S. markets, published weeks before any other index, based on the local databases used directly by real estate agents to list properties and record sales.

National home prices hit a two-year high in August, marking a 5% gain from August 2011 and holding steady month-over-month during a time of year that typically sees a seasonal decline in prices.

Following is a summary of key metrics across 19 major metropolitan markets:

  • Home prices in August increased 4.9% year over year, and were flat month over month (+0.1%).
  • The number of homes for sale declined 28.5% from August 2011 to August 2012, and by 4.5% since July.
  • Home sales increased 1.4% over last year, but fell 2.5% since July, a typical decline for this time of year.
  • The percentage of listings that sold within 14 days of their debut increased slightly in August, from 26.7% in July to 27.6% last month.

For the full report including data tables, charts, and a downloadable spreadsheet with historic data, visit the Real-Time Price Tracker in Redfin’s Research Center.