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

Pending home sales reached their lowest level in records dating to 2021, while mortgage payments remained near their record high.

Rhea-AI Summary

Rocket (RKT)-powered brokerage Redfin reported that U.S. home-sale prices fell year over year for a second consecutive week. For the four weeks ending Oct. 25, 2026, the median sale price was $389,601, down 0.1% from a year earlier, following a 0.2% decline the prior week after three years of increases.

Pending sales fell 15.9% year over year and 1.8% week over week to the lowest level in records dating to 2021. The median monthly mortgage payment rose 10.7% year over year to $2,786, the second-highest recorded level. New listings declined 0.6% week over week, while active listings increased 0.3%. Pending sales declined across all 50 most populous metros for the third consecutive week.

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Key Figures

Median home-sale price: $389,601; down 0.1% year over year Pending home sales: 276,352; down 15.9% year over year and 1.8% week over week Median monthly mortgage payment: $2,786; up 10.7% year over year +2 more

Median home-sale price

$389,601; down 0.1% year over year

Four weeks ending Oct. 25, 2026

Pending home sales

276,352; down 15.9% year over year and 1.8% week over week

Four weeks ending Oct. 25, 2026; lowest level in Redfin's records

Median monthly mortgage payment

$2,786; up 10.7% year over year

At a 7.32% mortgage rate; highest in Redfin's records except the prior week

Weekly average mortgage rate

7.32%, down from 7.4% a week earlier

Near a three-year high

New listings

352,421; down 4% year over year and 0.6% week over week

Four weeks ending Oct. 25, 2026; lowest level since January

Historical Context

1 past event · Latest: Oct 22

1 event

1. Oct 22

   Housing sales data

   24h Move

   +5.7%

   Pending sales hit a record low at 281,749, down 14.4% year over year.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

seasonally adjusted, months of supply, sale-to-list price ratio

3 terms

seasonally adjusted technical

"Median monthly mortgage payment (seasonally adjusted)"

Seasonally adjusted means that figures have been modified to remove the effects of regular and predictable changes that happen at specific times of the year, such as holidays or weather patterns. This adjustment helps reveal the true underlying trend by making comparisons across different periods more accurate. For investors, it provides a clearer picture of whether economic activity is genuinely improving or declining, without the noise of seasonal fluctuations.

months of supply technical

"Months of supply | 4.5 | Up from 4"

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 ratio technical

"Average sale-to-list price ratio | 98.3 %"

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.

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

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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.

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

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much did U.S. home-sale prices fall in Redfin's October 2026 housing report?

The median U.S. home-sale price declined 0.1% year over year to $389,601 for the four weeks ending Oct. 25, 2026. It was the second consecutive weekly reporting period with a year-over-year decline, following three years of increases.

How did housing supply change in Redfin's October 2026 report?

Months of supply increased to 4.5 from 4 a year earlier for the four weeks ending Oct. 25, 2026. A range of 4 to 5 months is considered balanced. Active listings totaled 1,510,619, up 2.2% year over year and 0.3% week over week.