Redfin: U.S. Median Sale Price Falls for a Third Straight Week as Pending Sales Hit Another Record Low
The cooling of the U.S. housing market continued in the latest weekly data. Redfin's housing market update, published November 5, put the national median home-sale price at $388,604 for the four weeks ending November 1, down 0.4 percent from a year earlier. That marks the third straight week in which sale prices declined year over year, after three years of increases.
Demand contracted more sharply than prices. Pending home sales — homes under contract but not yet closed — fell to 275,484 in the same four weeks, down 0.6 percent from the prior period and 16.4 percent from a year earlier, the lowest level in Redfin's weekly records dating back to 2021. Redfin said buyer activity declined for a fourth consecutive week across every major metro it analyzed.
Sellers stepped back too: new listings fell to 346,795, the lowest since January. Even so, total active listings reached 1,501,917, up 2.1 percent from a year ago, giving buyers more choice than they had in 2025. The median asking price rose 2 percent year over year to $401,860 — a widening gap between what sellers ask and what homes actually sell for.
Monthly costs eased slightly. The median monthly mortgage payment, calculated at a 7.24 percent mortgage rate, dropped to $2,777 — the lowest in five weeks and below the $2,811 peak of early October, though still 11.1 percent higher than a year earlier. Freddie Mac's weekly survey, released the same day, put the average 30-year fixed rate at 7.18 percent, down for a third consecutive week.
Redfin's national metrics cover more than 900 U.S. metro areas, with weekly data back through 2021, and are subject to revision. The four weeks ending November 1 included the final stretch of the 2026 midterm campaign, with Election Day on November 3 — leaving open whether the record-low pending sales reflect a temporary pre-election freeze or a more structural retreat by buyers facing rates above 7 percent.
(Source: Redfin)
Source: Redfin
Published by GSM · USA (original Chinese edition)
Photo: 美国郊区住宅区航拍（资料图）。图片来自 Wikimedia Commons，CC BY-SA 4.0。 / An aerial view of a U.S. suburban neighborhood (file photo). Image via Wikimedia Commons, CC BY-SA 4.0.
