Home prices have skyrocketed in the past year, and data from Redfin backs up what buyers, sellers, and agents have known for months. According to the latest report from Redfin, The national average of home prices rose 14.4% year-over-year to $336,200 in February, the largest increase since July 2013. Closed home sales were up 5% from a year earlier and pending sales rose 21%.