Redfin Reports Home Prices Are Rising Fast in the Midwest
Redfin Corporation (RDFN)
Last redfin corporation earnings: 2/12 04:01 pm
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Source: Business Wire
Home prices in Milwaukee jumped 20% year over year in February, a bigger increase than any other major U.S. metro. Nationwide, prices rose 3%, and pending sales fell the most since 2023. SEATTLE--(BUSINESS WIRE)--(NASDAQ: RDFN) — The Midwest is home to three of the five metro areas where home prices are rising fastest, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage.In Milwaukee, the median home sale price rose a record 20% year over year in February to $330,000—the biggest jump among the 50 most populous metros. Next came Detroit (12.5%), Nassau County, NY (11.7%), San Jose, CA (11.1%) and Cleveland (10%).Nationwide, the median home sale price climbed 3.2% to $425,421—the slowest growth in six months. That coincided with a slowdown in homebuyer demand; U.S. pending home sales fell 6.2% year over year—the biggest decline since September 2023—and fell 1.1% month over month on a seasonally-adjusted basis.Prices are rising even though h
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