The median monthly mortgage payment is still sitting at its second-highest level on record, spooking would-be buyers
SEATTLE — Oct. 29, 2026 — The median U.S. home-sale price has fallen for the first time in more than three years, according to a new report from Redfin, the real estate brokerage powered by Rocket.
U.S. housing market takeaways for the four weeks ending Oct. 25:
- Home-sale prices ticked down. The median home-sale price was $389,601, down 0.1% year over year. That marks the second straight week in which prices ticked down—it follows a 0.2% decline last week—after three straight years of increases.
- Homebuying demand fell to a new low. Pending home sales declined 1.8% from a week earlier to the lowest level in records dating back to 2021. For the third week in a row, pending sales declined in all 50 of the most populous U.S. metro areas.
- The typical homebuyer’s monthly payment hit its second-highest level on record. The median mortgage payment was $2,786, up 10.7% year over year to the highest level in Redfin’s record except the prior week. The weekly average mortgage rate is 7.32%, down from 7.4% a week earlier but still near a three-year high.
- Would-be sellers pulled back. New listings declined 0.6% from a week earlier to their lowest level since the start of the year as homeowners react to slow homebuying demand.
- Total supply is creeping up. The total number of homes for sale ticked up 0.3% from a week earlier. Even though new listings are falling, pending sales are falling more, keeping the pool of inventory partly filled. There are hundreds of thousands more home sellers than buyers nationwide, giving buyers more negotiating power than they’ve had in over a decade.
For Redfin economists’ takes on the housing market, please visit Redfin’s “From Our Economists” page.
Key Housing Market Data
| U.S. highlights: Four weeks ending Oct. 25, 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. 25, 2026 | Year-over-year change | Week-over-week change (where applicable) | Notes | |
| Median sale price | $389,601 | -0.1% | First decline in over 3 years (except the prior week) | |
| Median asking price (seasonally adjusted) | $400,703 | 1.2% | ||
| Median monthly mortgage payment (seasonally adjusted) | $2,786 at a 7.32% mortgage rate | 10.7% | Highest level in Redfin’s records (except the prior week) | |
| Pending sales (seasonally adjusted) | 276,352 | -15.9% | -1.8% | Lowest level in Redfin’s records |
| New listings (seasonally adjusted) | 352,421 | -4% | -0.6% | Lowest level since January |
| Active listings (seasonally adjusted) | 1,510,619 | 2.2% | 0.3% | |
| Months of supply | 4.5 | Up from 4 | 4 to 5 months of supply is considered balanced | |
| Share of homes off market in two weeks | 27.5% | Down from 28.5% | ||
| Median days on market | 50 | 1 | ||
| Share of home listings with price drops | 21.5% | Up from 20.9% | ||
| Share of homes sold above list price | 23.2% | Unchanged | ||
| Average sale-to-list price ratio | 98.3% | Unchanged | ||
| Metro-level highlights: Four weeks ending Oct. 25, 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 | |
| Median sale price | San Francisco (15%)
New Brunswick, NJ (8.4%) Pittsburgh (7.4%) Montgomery County, PA (6.2%) Cleveland (4.9%) |
Seattle (-5.1%)
San Jose, CA (-4.9%) Austin, TX (-4.6%) Nashville, TN (-3.3%) |
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| Pending sales | Seattle (-31.6%)
Atlanta (-25.9%) San Diego (-25.3%) Las Vegas (-22.7%) Denver (-22.3%) |
Declined in every single metro Redfin analyzed, for the third week in a row | |
| New listings | San Jose, CA (17.9%)
Newark, NJ (14.4%) Boston (12.8%) Nashville, TN (9.1%) San Francisco (8.5%) |
Atlanta (-26.5%)
San Antonio (-18.7%) Dallas (-17.6%) Austin, TX (-12.9%) Minneapolis (-8%) |
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For more national and metro-level housing-market stats, please visit Redfin’s data center.
To view the full report, please visit: https://www.redfin.com/news/housing-market-update-home-sale-prices-fall-october-2026
About Redfin
Redfin is a technology-driven real estate company with the country’s most-visited real estate brokerage website. As part of Rocket Companies (NYSE: RKT), Redfin is creating an integrated homeownership platform from search to close to make the dream of homeownership more affordable and accessible for everyone. Redfin’s clients can see homes first with on-demand tours, easily apply for a home loan with Rocket Mortgage, and save thousands in fees while working with a top local agent.
You can find more information about Redfin and get the latest housing market data and research at https://www.redfin.com/news. For more information about Rocket Companies, visit https://www.rocketcompanies.com.
Contact Redfin Journalist Services:
Emily Rubin
