Redfin Weekly Report: Median Asking Price Turns Lower Year Over Year, Monthly Mortgage Payment Reaches $2,777 as Pending Sales Fall 12.7%
In its weekly housing market update refreshed on October 20, real estate brokerage Redfin reported that for the four weeks ending October 11, 2026, the median asking price was $396,881, down 0.3 percent year over year — the first annual decline since March. The median sale price was $391,116, up just 0.5 percent from a year earlier, the slowest growth since March. At a 7.4 percent mortgage rate, Redfin put the median monthly mortgage payment at $2,777, near a record level.
Demand continued to cool: pending sales totaled 286,531, down 12.7 percent year over year and near record lows, while a record 22 percent of sellers cut their asking prices. The market carried 4.2 months of supply, and the median home spent 49 days on the market.
In a separate rate commentary published the same day, Redfin noted that the Federal Reserve is in its blackout period ahead of the October 28 meeting, that no rate hike is expected next week, but that a December hike remains likely; its estimate put core PCE price inflation at roughly 3.1 percent on an annualized basis.
Source: GSM · USA (original Chinese edition)
Photo: 郊区住宅区航拍（资料图）。照片：公共领域，经维基共享资源。 / Aerial view of a suburban housing development (file photo). Public domain, via Wikimedia Commons.
