Pending home sales inched up this week, but they’re still near record lows.
What to know about the U.S. housing market for the four weeks ending October 11:
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- Home prices are losing momentum. The median U.S. home-sale price rose just 0.5% year over year, the slowest growth rate since March. The median asking price fell 0.3% year over year, its first decline since March. Some relief could be on the horizon for buyers.
- Mortgage rates are still a vital stat for homebuyers and sellers. The weekly average mortgage rate hit a 3-year high of 7.4% on October 8. Daily average rates have eased slightly in recent days, dipping to 7.45% on October 14 from 7.61% about a week earlier.
- The typical homebuyer’s monthly payment is $2,777, the highest level on record except the previous week. That’s due to high mortgage rates and still-increasing home prices.
- Homebuying demand remains near record low. Pending home sales ticked up 1.5% from a week earlier–perhaps thanks to rates easing ever-so-slightly–but were still near their lowest level in records dating back to 2021. That includes the end of 2023, when mortgage rates were nearing 8%. Pending sales declined year over year in all 50 of the most populous U.S. metro areas.
- Price drops are at a record high. As sellers come to terms with prices losing steam, more of them are dropping their prices: 22% of home sellers with active listings cut their asking price, up from 20.9% a year earlier and the highest level in our records.
- Housing supply is growing, but slowly. New listings of homes for sale inched up 0.4% week over week, while the total number of homes for sale rose 0.8%.
For Redfin economists’ takes on the housing market, please visit Redfin’s “From Our Economists” page.
Below is a summary of our most recent housing-market data. For more national and metro-level stats, please visit Redfin’s data center.
| U.S. highlights: Four weeks ending Oct. 11, 2026
Redfin’s national metrics include data from 900+ U.S. metro areas and are based on homes listed and/or sold during the period. Weekly housing-market data goes back through 2021. Subject to revision. |
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| Four weeks ending Oct. 11, 2026 | Year-over-year change | Week-over-week change (where applicable) | Notes | |
| Median sale price | $391,116 | 0.5% | Slowest price growth since March | |
| Median asking price (seasonally adjusted) | $396,881 | -0.3% | First decline since March | |
| Median monthly mortgage payment (seasonally adjusted) | $2,777 at a 7.4% mortgage rate | 8.8% | Highest level in our records (except the prior week) | |
| Pending sales (seasonally adjusted) | 286,531 | -12.7% | 1.5% | Lowest level in our records (except the prior week) |
| New listings (seasonally adjusted) | 359,859 | -1.3% | 0.4% | |
| Active listings (seasonally adjusted) | 1,506,396 | 2% | 0.8% | |
| Months of supply | 4.2 | Up from 3.8 | 4 to 5 months of supply is considered balanced | |
| Share of homes off market in two weeks | 29% | Down from 29.6% | ||
| Median days on market | 49 | 1 | ||
| Share of home listings with price drops | 22% | Up from 20.9% | ||
| Share of homes sold above list price | 23.6% | Up from 23.2% | ||
| Average sale-to-list price ratio | 98.4% | Up from 98.3% | ||
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Metro-level highlights: Four weeks ending Oct. 11, 2026 Redfin’s metro-level rankings data includes the 50 most populous U.S. metros. Select metros may be excluded from time to time to ensure data accuracy. |
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|---|---|---|---|
| Metros with biggest year-over-year increases | Metros with biggest year-over-year decreases |
Notes |
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| Median sale price | San Francisco (18.1%)
Detroit (9.4%) West Palm Beach, FL (7.8%) Chicago (5.2%) Newark, NJ (5.1%) |
Seattle (-6.3%) San Jose, CA (-4.8%) Charlotte, NC (-2.3%) Anaheim, CA (-2.1%) |
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| Pending sales | Seattle (-26%)
Atlanta (-22.7%) San Diego (-22.6%) Denver (-19.3%) Minneapolis (-18.5%) |
Declined in every single metro we analyzed for the first time in 3 years | |
| New listings | Nashville, TN (22.1%)
San Jose, CA (20.3%) Boston (12.4%) San Francisco (11.5%) Newark, NJ (8.7%) |
Atlanta (-21.3%)
San Antonio (-14.6%) Dallas (-10.2%) Fort Worth, TX (-9.2%) Jacksonville, FL (-6.5%) |
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Refer to our metrics definition page for explanations of all the metrics used in this report.
