Anaheim
+0.1% monthly
+5.6% annual
Modest September movement, with the strongest annual gain among the four Southern California metros.
September Home Prices
National prices rose. California metros split.
U.S. home prices increased 0.25% in September and 3.8% from a year earlier. Here is how eight major California metros fared, from Riverside's 0.4% monthly decline to San Francisco's 1.0% increase.
U.S. Monthly Change+0.25%
U.S. Annual Change+3.8%
Metros With Monthly Gains34 of 50
The National Read
Prices accelerated slightly, even as buyers gained leverage.
The Redfin Home Price Index increased 0.25% from August to September on a seasonally adjusted basis, following a 0.21% increase the month before. Annual appreciation reached 3.8%, its fastest pace since June 2025.
This is a repeat-sales index. It compares each home's latest sale with its previous sale, which helps control for changes in the size and quality of homes selling from one period to the next. September's reading covers the three months ending September 30, 2026.
California contained the strongest major metro in the country and two metros that declined during the month.
Southern California
Annual gains remained positive, but September momentum was mixed.
Anaheim and San Diego each rose 0.1% during September. Los Angeles fell 0.3%, and Riverside declined 0.4%. Over the year, however, all four remained above their September 2025 levels.
Anaheim posted the strongest annual growth in the region at 5.6%, followed by San Diego at 4.0% and Los Angeles at 3.3%. Riverside's 0.9% annual gain was the smallest among the eight California metros in the national table.
+0.1% monthly
Los Angeles
-0.3% monthly
+3.3% annual
A monthly step back did not erase the increase accumulated over the prior year.
Riverside
-0.4% monthly
+0.9% annual
The weakest California reading in both the monthly and annual comparisons.
San Diego
+0.1% monthly
+4.0% annual
Nearly flat for the month, but still appreciating faster than the national annual rate.
Northern California
Every major metro advanced in September, led by San Francisco.
San Francisco rose 1.0% for the month and 14.0% from a year earlier, making it the strongest major U.S. metro in the annual comparison. Sacramento and San Jose each gained 0.7% during September, while Oakland rose 0.5%.
The annual results were less uniform. Oakland increased 4.6%, San Jose rose 2.9%, and Sacramento gained 1.8%. San Francisco's 14.0% increase is an outlier, not a proxy for California as a whole.
Oakland
+0.5% monthly
+4.6% annual
Positive on both measures and slightly ahead of the national annual increase.
Sacramento
+0.7% monthly
+1.8% annual
A relatively strong September increase within a slower twelve-month trend.
San Francisco
+1.0% monthly
+14.0% annual
The largest annual increase among the 50 major metros Redfin measured.
San Jose
+0.7% monthly
+2.9% annual
September strengthened, while annual growth remained below the national rate.
How To Read It
One month measures direction. One year measures accumulated change.
Los Angeles is a useful example. A 0.3% monthly decline says prices eased during the latest period. A 3.3% annual increase says they remained above where they were one year earlier. Both can be true at the same time.
The index also describes metro-wide movement, not the value of every property. Price tier, neighborhood, condition, lot, insurance exposure, and local inventory can produce a very different result for an individual home.
The Los Angeles Read
Prices softened in September without becoming broadly cheaper than last year.
For buyers
A negative monthly reading can support more deliberate negotiations, but the positive annual figure shows that waiting has not produced a broad reset in values. The relevant comparison is still the property's immediate competition.
For sellers
Annual appreciation offers support, while the September decline argues against pricing from the strongest comparable sale without adjusting for current competition and condition.
For market watchers
California is not moving as one market. The 14.0% annual gain in San Francisco and the 0.9% gain in Riverside belong in the same statewide conversation, but they describe very different local conditions.
The Takeaway
The national number improved. California's details matter more.
National home prices rose a little faster in September, and most major metros recorded monthly gains. California's eight large metros ranged from clear acceleration to modest decline.
For Los Angeles, the clearest reading is neither boom nor correction: prices eased during the month but remained 3.3% higher than a year ago.
Source note: this page is original commentary based on Redfin's September 2026 Home Price Index, published October 20, 2026. The index measures seasonally adjusted repeat-sale price changes for single-family homes and covers the three months ending September 30. Metro-level figures may not describe a specific city, neighborhood, property type, or home. Information and figures are subject to errors and omissions; readers should independently verify all market, financing, tax, legal, and property-specific information with appropriate professionals.
View Redfin's September Home Price IndexMarket Guidance
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