Redfin Reports Homebuyers Get Some Relief as Prices Decline for Third Straight Week, Monthly Payments Dip
Pending home sales reached their lowest level in records dating to 2021, while new listings fell to their lowest since January.
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Rhea-AI Summary
Redfin, the real estate brokerage powered by Rocket (RKT), reported U.S. home-sale prices fell for the third consecutive week year over year. For the four weeks ending Nov. 1, 2026, the median sale price was $388,604, down 0.4%. The seasonally adjusted median monthly mortgage payment reached a five-week low of $2,777, down from $2,811 in early October but up 11.1% year over year.
Seasonally adjusted pending sales fell 16.4% year over year and 0.6% week over week to 275,484, the lowest in records dating to 2021. New listings dropped 1.5% weekly to their lowest level since January. Active listings rose 2.1% annually but fell 0.5% weekly. Supply reached 4.6 months, up from 4 a year earlier. Pending sales declined in every analyzed metro for the fourth consecutive week. Redfin said buyers may have room to negotiate lower prices or other concessions.
Key Figures
- Median sale price
- $388,604; down 0.4% year over year
- Four weeks ending Nov. 1, 2026
- Median monthly mortgage payment
- $2,777 at a 7.24% mortgage rate
- Four weeks ending Nov. 1, 2026; down from $2,811 in early October
- Pending sales
- 275,484; down 16.4% year over year and 0.6% week over week
- Lowest level in Redfin's records
- New listings
- 346,795; down 4.6% year over year and 1.5% week over week
- Lowest level since January
- Active listings
- 1,501,917; up 2.1% year over year
- Four weeks ending Nov. 1, 2026
- Months of supply
- 4.6 months
- Up from 4 months
Historical Context
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Second weekly year-over-year home-price decline: median sale price was $389,601, down 0.1%.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
AI-generated analysis. How Rhea-AI works. Not financial advice.
New listings of homes for sale fell to their lowest level since the start of the year, but there are still significantly more sellers than buyers in the market
- Home-sale prices dip. The median home-sale price was
$388,604 0.4% year over year. That marks the third straight week in which prices declined after three years of increases. - Monthly payments dropped to a five-week low. The median monthly mortgage payment was
$2,777 $2,811 - House-hunting activity declined. Pending home sales fell
0.6% week over week to the lowest level in records dating back to 2021. - Sellers pulled back, too. New listings dropped
1.5% from a week earlier to the lowest level since January, as would-be sellers reacted to slow demand. - The slow market is giving buyers room to negotiate. The buyers who are out there may be able to negotiate prices down and/or get other concessions from sellers. Buyers have more homes to choose from than a year ago, and less competition: There are
2.1% more homes on the market than a year ago, while homes are taking a bit longer to sell.
For Redfin economists' takes on the housing market, please visit Redfin's "From Our Economists" page.
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Redfin's national metrics include data from 900+ |
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Four weeks ending |
Year-over-year change |
Week-over-week change |
Notes |
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Median sale price |
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-0.4 % |
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Median asking price |
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2 % |
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Median monthly |
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11.1 % |
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Lowest level in five weeks |
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Pending sales |
275,484 |
-16.4 % |
-0.6 % |
Lowest level in Redfin's |
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New listings |
346,795 |
-4.6 % |
-1.5 % |
Lowest level since January |
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Active listings |
1,501,917 |
2.1 % |
-0.5 % |
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Months of supply |
4.6 |
Up from 4 |
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4 to 5 months of supply is |
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Share of homes off |
26.9 % |
Down from |
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Median days on |
50 |
1 |
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Share of home listings |
21.2 % |
Up from |
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Share of homes sold |
23.21 % |
Unchanged |
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Average sale-to-list |
98.3 % |
Essentially unchanged |
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Metro-level highlights: Four weeks ending Nov. 1, 2026 Redfin's metro-level rankings data includes the 50 most populous |
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Metros with biggest year-over- |
Metros with biggest year-over- |
Notes |
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Median sale price |
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Pending sales |
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Declined in every single metro |
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New listings |
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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-sale-prices-keep-declining/
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
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much did home prices fall in Redfin's November 2026 housing report?
The U.S. median home-sale price fell 0.4% year over year to $388,604 for the four weeks ending Nov. 1, 2026. This was the third consecutive week of annual price declines after three years of increases.
Which housing markets had the biggest home-price changes in Redfin's report?
Among the metros analyzed, San Francisco had the largest year-over-year median sale-price increase at 17.3%, while Fort Lauderdale, Florida, had the largest decline at 5.9%. Redfin's metro rankings cover the 50 most populous U.S. metros, with select metros sometimes excluded for data accuracy.