Prospective property buyers are drawing back as home loan rates stay in the mid-7%variety.
What to understand about the U.S. real estate market for the 4 weeks ending October 18:
- Pending home sales fell. They decreased 1.9%from a week previously to the most affordable level in records going back to 2021Weekly typical home loan rates are holding stable at 7.4%evaluating numerous home hunters. For the 2nd week in a row, pending sales decreased in all 50 of the most populated U.S. city locations.
- The normal month-to-month payment leapt to the the second-highest level on record. The typical real estate payment for a property buyer is $2,796, as home loan rates remain high. The average home-sale rate increased simply 0.2 %year over year, following 2 weeks of 0.1%boosts, an indication that rates are losing steam.
- Fresh supply is falling. New listings decreased 1.4% from a week previously to the most affordable level because July as house owners remember of sluggish homebuying need.
- Overall stock is still growing– however hardly. The overall variety of homes for sale inched up 0.1%week over week; although brand-new listings are falling, the overall variety of homes for sale is holding up since purchasers aren’t diminishing the swimming pool extremely rapidly. There are numerous thousands more home sellers than purchasers throughout the nation, providing purchasers the most working out power they’ve had in over a years.
For Redfin economic experts’ handles the real estate market, please check out Redfin’s”From Our Economistspage.
Below is a summary of our newest housing-market information. For more nationwide and metro-level statistics, please see Redfin’s information.
| 4 weeks ending Oct. 18, 2026 | Year-over-year modification | Week-over-week modification (where suitable) | Notes | |
| Mean list price | $390,614 | 0.2% | ||
| Typical asking rate (seasonally changed) | $399,629 | 0.9% | ||
| Mean month-to-month home loan payment (seasonally changed) | $2,796 at a 7.4% home mortgage rate | 10.4% | Second-highest level in our records | |
| Pending sales (seasonally changed) | 281,749 | -14.4% | -1.9% | Most affordable level in our records |
| New listings (seasonally changed) | 354,412 | -2.7% | -1.4% | Greatest weekly decrease in 3 months |
| Active listings (seasonally changed) | 1,507,161 | 2.1% | 0.1% | |
| Months of supply | 4.4 | Up from 4 | 4 to 5 months of supply is thought about well balanced | |
| Share of homes off market in 2 weeks | 28.3% | Below 29% | ||
| Average days on market | 50 | 1 | ||
| Share of home listings with cost drops | 21.7% | Up from 21% | ||
| Share of homes offered above sticker price | 23.3% | Up from 23.1% | ||
| Typical sale-to-list rate ratio | 98.4% | Up from 98.3% |
| Metros with most significant year-over-year boosts | Metros with most significant year-over-year reductions |
Notes |
|
|---|---|---|---|
| Mean price | San Francisco (12.9%)
New Brunswick, NJ (6.9%) Detroit (6.9%) Pittsburgh (6.9%) Cleveland (5.7%) |
Seattle (-6.2%)
San Jose, CA (-4.7%) Austin, TX (-2.8%) Charlotte, NC (-2.8%) |
|
| Pending sales | Seattle (-28.8%)
San Diego (-25.4%) Atlanta (-23.8%) Denver (-21%) Las Vegas (-20.6%) |
Decreased in every city we examined for the 2nd week in a row | |
| New listings | Nashville, TN (18.7%)
San Jose, CA (17.7%) Newark, NJ (11.8%) San Francisco (11.7%) Boston (10.2%) |
Atlanta (-24.2%)
San Antonio (-17.4%) Dallas (-11.1%) Fort Worth, TX (-9.5%) Las Vegas (-8.4%) |
Describe our metrics meaning page for descriptions of all the metrics utilized in this report.
Dana Anderson
As an information reporter at Redfin, Dana Anderson discusses the numbers behind realty patterns. Redfin is a full-service property brokerage that utilizes contemporary innovation to make customers smarter and much faster. For more details about dealing with a Redfin realty representative to purchase or offer a home, visit our Why Redfin page.
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