Redfin Corporation
11/05/2026 | Press release | Distributed by Public on 11/05/2026 07:20
Redfin Reports Homebuyers Get Some Relief as Prices Decline for Third Straight Week, Monthly Payments Dip
New listings of homes for sale fell to their lowest level since the start of the year, but there are still significantly more sellers than buyers in the market
SEATTLE - Nov. 5, 2026 - U.S. home-sale prices fell year over year for the third week in a row, according to a new report from Redfin, the real estate brokerage powered by Rocket.
U.S. housing market takeaways for the four weeks ending Nov. 1:
- Home-sale prices dip. The median home-sale price was $388,604, down 0.4% year over year. That marks the third straight week in which prices declined after three years of increases.
- Monthly payments dropped to a five-week low. The median monthly mortgage payment was $2,777, down from a peak of $2,811 in early October. This data is seasonally adjusted. Costs declined because mortgage rates and sale prices are slowly coming down.
- House-hunting activity declined. Pending home sales fell 0.6% week over week to the lowest level in records dating back to 2021.
- Sellers pulled back, too. New listings dropped 1.5% from a week earlier to the lowest level since January, as would-be sellers reacted to slow demand.
- The slow market is giving buyers room to negotiate. The buyers who are out there may be able to negotiate prices down and/or get other concessions from sellers. Buyers have more homes to choose from than a year ago, and less competition: There are 2.1% more homes on the market than a year ago, while homes are taking a bit longer to sell.
For Redfin economists' takes on the housing market, please visit Redfin's "From Our Economists" page.
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U.S. highlights: Four weeks ending Nov. 1, 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. |
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| Four weeks ending Nov. 1, 2026 | Year-over-year change | Week-over-week change (where applicable) | Notes | |
| Median sale price | $388,604 | -0.4% | ||
| Median asking price (seasonally adjusted) | $401,860 | 2% | ||
| Median monthly mortgage payment (seasonally adjusted) | $2,777 at a 7.24% mortgage rate | 11.1% | Lowest level in five weeks | |
| Pending sales (seasonally adjusted) | 275,484 | -16.4% | -0.6% | Lowest level in Redfin's records |
| New listings (seasonally adjusted) | 346,795 | -4.6% | -1.5% | Lowest level since January |
| Active listings (seasonally adjusted) | 1,501,917 | 2.1% | -0.5% | |
| Months of supply | 4.6 | Up from 4 | 4 to 5 months of supply is considered balanced | |
| Share of homes off market in two weeks | 26.9% | Down from 28% | ||
| Median days on market | 50 | 1 | ||
| Share of home listings with price drops | 21.2% | Up from 20.6% | ||
| Share of homes sold above list price | 23.21% | Unchanged | ||
| Average sale-to-list price ratio | 98.3% | Essentially unchanged | ||
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Metro-level highlights: Four weeks ending Nov. 1, 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. |
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| Metros with biggest year-over-year increases | Metros with biggest year-over-year decreases | Notes | |
| Median sale price |
San Francisco (17.3%)
New Brunswick, NJ (7.6%) Pittsburgh (7%) Jacksonville, FL (5.6%) Montgomery County, PA (5.1%) |
Fort Lauderdale, FL (-5.9%)
Austin, TX (-5.8%) Seattle (-5.1%) Charlotte, NC (-4%) Nashville, TN (-3.9%) |
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| Pending sales |
Seattle (-30.5%)
San Diego (-26.9%) Atlanta (-26.3%) Denver (-24.6%) Las Vegas (-22.6%) |
Declined in every single metro Redfin analyzed, for the fourth week in a row | |
| New listings |
San Jose, CA (17.8%)
Providence, RI (13.3%) Newark, NJ (11.2%) New Brunswick, NJ (8.7%) Boston (8.4%) |
San Antonio (-17.7%)
Dallas (-13.5%) Austin, TX (-13.3%) Portland, OR (-9.5%) Fort Worth, TX (-8%) |
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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-sale-prices-keep-declining/
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.
Contact Redfin Journalist Services:
Emily Rubin
Redfin Corporation published this content on November 05, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on November 05, 2026 at 13:20 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]