The 30-year fixed mortgage rate is the interest rate charged on a home loan that is paid back over 30 years with consistent monthly payments. Because the rate stays the same throughout the loan period, it provides stability and predictability for homeowners. This rate influences borrowing costs and can impact the overall housing market and consumer spending.
mortgage-purchase applicationsfinancial
Mortgage-purchase applications are requests submitted by consumers to lenders for home loans used to buy properties, as opposed to loans for refinancing existing mortgages. Investors watch the number and trend of these applications because they act like a real-time thermometer of housing demand and consumer confidence—rising applications suggest stronger home sales, construction activity, and related spending, while falling applications can signal cooling in the housing market and pressure on companies tied to mortgages and homebuilding.
touring activitytechnical
Touring activity measures the movement or travel of goods, people, or services between different locations, often indicating the level of economic or business activity. It matters to investors because higher touring activity can signal growing demand or expansion, while lower levels might suggest slowdown or contraction in a market. Think of it as tracking how busy a marketplace or transportation network is to gauge overall activity and health.
months of supplyfinancial
Months of supply measures how long it would take to sell all available homes at the current sales rate. It is calculated by dividing the total number of homes for sale by the number of homes sold each month. A lower number suggests a faster market with high demand, while a higher number indicates a slower market with more choices for buyers.
sale-to-list price ratiofinancial
The sale-to-list price ratio measures how much of a property's asking price is actually paid by buyers, expressed as a percentage. For example, if a home is listed at $300,000 and sells for $285,000, the ratio is 95%. This figure helps investors gauge the strength of the market: a higher ratio suggests buyers are willing to pay close to asking prices, indicating high demand.
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Redfin reports pending home sales are declining and touring activity is slumping
SEATTLE--(BUSINESS WIRE)--
U.S. pending home sales fell 4.1% from a year earlier during the four weeks ending April 12, the biggest decline in over a year. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket.
Sales fell in all but seven of the 50 biggest U.S. metro areas, with the largest declines in Providence, RI (-17.5%), Houston (-16.9%) and Nassau County, NY (-14.8%). The biggest increases were in San Francisco (9.6%), West Palm Beach, FL (8.2%) and Miami (6.4%).
Homebuying demand is unseasonably slow. Home-touring activity is up just 11% since the start of the year, compared to a 40% increase over the same period last year, according to ShowingTime.
Would-be homebuyers are backing off partly because the Iran war is causing widespread geopolitical and economic uncertainty, making some Americans wary of making a big purchase. It has also contributed to higher mortgage rates, though the average rate fell to 6.3% this week. Mortgage rates may swing up or down in the next few weeks, depending on the direction of the Iran war, the outcome of negotiation talks and oil prices.
High housing costs are also sidelining house hunters. The median home-sale price rose 2.3% annually, the biggest increase in a year, and while the weekly average mortgage rate has come down, it is still notably higher than it was in early March. It’s worth noting that the timing of Easter is contributing to the year-over-year decline in pending sales, too: Easter fell into this four-week period, but not the comparable period in 2025.
“Luxury buyers aren’t letting the high interest rates dissuade them, but for buyers on a tighter budget, the difference can be enough to kill affordability," said Stacey Bryant, a Redfin Premier agent in Boston. "Cost-conscious buyers are also jittery about the rising prices of other things–like gas, food and energy–cutting into their budgets.”
On the selling side, new listings of homes for sales declined 1.4% year over year, with some prospective sellers hitting pause while demand is down.
For Redfin economists’ takes on the housing market, please visit Redfin’s “From Our Economists” page.
Down 1% from a week earlier (as of week ending April 10)
Down 3%
Mortgage Bankers Association
Google searches of “homes for sale”
Up 11% from a month earlier (as of April 11)
Up 20%
Google Trends
Touring activity
Up 11% from the start of the year (as of April 12)
At this time last year, it was up 40% from the start of 2025
ShowingTime
Key housing-market data
U.S. highlights: Four weeks ending April 12, 2026
Redfin’s national metrics include data from 400+ U.S. metro areas and are based on homes listed and/or sold during the period. Weekly housing-market data goes back through 2015. Subject to revision.
Four weeks ending April 12, 2026
Year-over-year change
Notes
Median sale price
$393,059
2.3%
Biggest increase in a year
Median asking price
$426,225
1.8%
Median monthly mortgage payment
$2,732 at a 6.3% mortgage rate
-2.5%
Pending sales
86,665
-4.1%
Biggest decline in a year
New listings
103,853
-1.4%
Active listings
1,092,911
-2.7%
Biggest decline since 2023
Months of supply
4.2
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
38.4%
Essentially unchanged
Median days on market
48
+4 days
Share of homes sold above list price
24.3%
Down from 26%
Average sale-to-list price ratio
98.6%
Down from 98.7%
Metro-level highlights: Four weeks ending April 12, 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.
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.
