U.S. Home-Sale Prices Just Fell for the First Time in 3 Years

PR Newswire

SEATTLE, Oct. 29, 2026

The median monthly mortgage payment is still sitting at its second-highest level on record, spooking would-be buyers

SEATTLE, Oct. 29, 2026 /PRNewswire/ — 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.

Redfin, a leading digital real estate brokerage, is now part of Rocket Companies

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.

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.

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%)
Kansas City, MO (-4.3%)

Nashville, TN (-3.3%)

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%)

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.

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SOURCE Redfin

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