Redfin Reports Pending Home Sales Sink to 5-Month Low As Mortgage Rates Rise

Rhea-AI Summary

Redfin, powered by Rocket (NYSE:RKT) reports U.S. pending home sales fell 3.7% week over week and 1.9% year over year for the four weeks ending Aug. 2, 2026, reaching the lowest level in over five months as mortgage rates climbed.

The daily average 30-year fixed rate hit 6.82% on Aug. 3, with the weekly average at 6.66%. Median sale price rose to $406,362, up 2.9% year over year, while the median monthly mortgage payment reached $2,631. New listings inched up 1% week over week, but active listings slipped 1.5%. Price growth was strongest in Newark and West Palm Beach, while San Jose and Seattle saw year-over-year declines.

Positive

• Median sale price $406,362, up 2.9% YoY
• Median monthly payment $2,631 at 6.66% rate, up 0.6% WoW
• New listings 354,313, up 1% WoW and 0.2% YoY

Negative

• Pending sales 311,150, down 3.7% WoW and 1.9% YoY
• Active listings 1,468,943, down 1.5% WoW and 0.3% YoY
• Touring activity up 12% YTD vs 29% at same time 2025

News Market Reaction – RKT

-4.62%

70 alerts

-4.62% Session close to close

+7.1% Peak Tracked

-13.7% Trough Tracked

$42.24B Market Cap

1.4x Rel. Volume

In the Aug 6 session, RKT declined 4.62%, reflecting a moderate negative market reaction. Argus tracked a peak move of +7.1% during that session. Argus tracked a trough of -13.7% from its starting point during tracking. Our momentum scanner triggered 70 alerts that day, indicating high trading interest and price volatility.

Data tracked by StockTitan Argus on the day of publication.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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New listings edged higher, but buyers pulled back as mortgage rates climbed to their highest level in nearly a year

SEATTLE, Aug. 6, 2026 /PRNewswire/ -- The number of homes going under contract fell 3.7% week over week nationwide—the steepest decline since 2022—as would-be buyers pressed pause amid high mortgage rates. That's according to a new report from Redfin, the real estate brokerage powered by Rocket.

Redfin is taking a break from analysis this week, but please see the tables and charts below for this week's housing-market data.

Leading indicators

Indicators of homebuying demand and activity
	Value (if applicable)	Recent change	Year-over-year change	Source
Daily average 30-year fixed mortgage rate	6.82% (Aug. 3)	Near highest level in over a year	Up from 6.57%	Mortgage News Daily
Weekly average 30-year fixed mortgage rate	6.66% (week ending July 30)	Highest level in nearly a year	Down from 6.72%	Freddie Mac
Mortgage-purchase applications (seasonally adjusted)		Down 4% from a week earlier (as of week ending July 29)	Up 3%	Mortgage Bankers Association
Google searches of "homes for sale"		Down about 3% from a month earlier (as of Aug. 2)	Down 6%	Google Trends
Touring activity		Up 12% from the start of the year (as of July 26)	At this time last year, it was up 29% from the start of 2025	ShowingTime

Key housing-market data

U.S. highlights: Four weeks ending Aug. 2, 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 Aug. 2, 2026	Year-over-year change	Week-over-week change (where applicable)	Notes
Median sale price	$406,362	2.9 %
Median asking price (seasonally adjusted)	$398,666	1.1 %
Median monthly mortgage payment (seasonally adjusted)	$2,631 at a 6.66% mortgage rate	0.6 %
Pending sales (seasonally adjusted)	311,150	-1.9 %	-3.7 %	Lowest level in over 5 months, biggest weekly decline since 2022
New listings (seasonally adjusted)	354,313	0.2 %	1 %
Active listings (seasonally adjusted)	1,468,943	-0.3 %	-1.5 %
Months of supply	3.6	Unchanged		4 to 5 months of supply  is considered balanced, with a lower number indicating seller's market conditions
Share of homes off market in two weeks	31.5 %	Unchanged
Median days on market	41	-1 day
Share of home listings with price drops	21.5 %	Unchanged
Share of homes sold above list price	27.6 %	Up from about 27%
Average sale-to-list price ratio	99 %	Up from 98.8%

Metro-level highlights: Four weeks ending Aug. 2, 2026 Redfin's metro-level 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	Newark, NJ (9.8%) West Palm Beach, FL (9.5%) Baltimore (7.6%) St. Louis (6.8%) Cleveland (6.5%)	San Jose, CA (-4.2%) Seattle (-1.8%) Dallas (-1.6%) Los Angeles (-0.8%) Indianapolis (-0.4%) Portland, OR (-0.4%) Las Vegas (-0.3%)	Declined in 7 metros
Pending sales	West Palm Beach, FL (13%) Cincinnati (7.1%) Pittsburgh (6.7%) St. Louis (3.9%) Chicago (3.4%)	Seattle (-19.8%) Houston (-17.1%) Phoenix (-15%) Denver (-10.9%) Atlanta (-9.8%)
New listings	St. Louis (13%) San Jose, CA (11.7%) Montgomery County, PA (9.7%) Boston (9.4%) Chicago (8.1%)	Dallas (-12.6%) Atlanta (-10.9%) Fort Worth, TX (-10.8%) Miami (-10.1%) San Antonio (-9.8%)

To view the full report, including charts, please visit:
https://www.redfin.com/news/housing-market-update-homebuying-demand-stalls-summer

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

How did rising mortgage rates impact pending home sales in August 2026 for RKT-related housing data?

Pending home sales fell 3.7% week over week and 1.9% year over year. According to Redfin, powered by Rocket, this drop for the four weeks ending Aug. 2, 2026 pushed pending sales to their lowest level in more than five months.

What are the latest mortgage rates in Redfin’s August 2026 report linked to Rocket (RKT)?

The daily average 30-year fixed mortgage rate reached 6.82% on August 3, 2026. According to Redfin, the weekly average rate for the week ending July 30 was 6.66%, near the highest level seen in almost a year.

What is the current U.S. median home sale price in Redfin’s August 2026 housing update for RKT investors?

The U.S. median sale price is $406,362 for the four weeks ending August 2, 2026. According to Redfin, this represents a 2.9% year-over-year increase, indicating prices are still rising despite softer homebuying demand.

How much is the typical monthly mortgage payment in Redfin’s August 2026 data relevant to Rocket (RKT)?

The median monthly mortgage payment is $2,631 at a 6.66% mortgage rate. According to Redfin, this seasonally adjusted figure rose 0.6% week over week, reflecting the pressure from higher borrowing costs on buyers’ budgets.

Are new home listings increasing or decreasing in Redfin’s August 2026 report connected to RKT?

New listings are edging higher, up 1% week over week and 0.2% year over year. According to Redfin, about 354,313 seasonally adjusted new listings hit the market in the four weeks ending August 2, 2026.

Which U.S. metros saw the biggest home price gains in Redfin’s August 2026 housing data?

Newark and West Palm Beach led price gains, up 9.8% and 9.5% year over year. According to Redfin, Baltimore, St. Louis, and Cleveland also posted strong increases, while prices declined in seven major metros, including San Jose and Seattle.

How is buyer demand trending in major metros according to Redfin’s August 2026 report for RKT watchers?

Buyer demand is mixed, with some metros seeing rising pending sales and others sharp declines. According to Redfin, West Palm Beach, Cincinnati, and Pittsburgh posted year-over-year pending sales growth, while Seattle, Houston, and Phoenix recorded double-digit percentage drops.