PR Newswire · Press release
Redfin Reports Homebuyers Get Some Relief as Prices Decline for Third Straight Week, Monthly Payments Dip
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Summary by Wenlo · not part of the original release
Redfin reported that U.S. home-sale prices fell year over year for the third week in a row for the four weeks ending Nov. 1, 2026. The median home-sale price reached $388,604, down 0.4% year over year, while the median monthly mortgage payment dropped to a five-week low of $2,777. During the same period, pending home sales fell 0.6% week over week and new listings dropped 1.5%.
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Original release from PR Newswire
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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 /PRNewswire/ -- 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.
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 | ||||
Four weeks ending | Year-over-year change | Week-over-week change | Notes | |
Median sale price | $388,604 | -0.4 % | ||
Median asking price | $401,860 | 2 % | ||
Median monthly | $2,777 at a 7.24% | 11.1 % | Lowest level in five weeks | |
Pending sales | 275,484 | -16.4 % | -0.6 % | Lowest level in Redfin's |
New listings | 346,795 | -4.6 % | -1.5 % | Lowest level since January |
Active listings | 1,501,917 | 2.1 % | -0.5 % | |
Months of supply | 4.6 | Up from 4 | 4 to 5 months of supply is | |
Share of homes off | 26.9 % | Down from 28% | ||
Median days on | 50 | 1 | ||
Share of home listings | 21.2 % | Up from 20.6% | ||
Share of homes sold | 23.21 % | Unchanged | ||
Average sale-to-list | 98.3 % | Essentially unchanged | ||
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 | |||
Metros with biggest year-over- | Metros with biggest year-over- | 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%) | |
Pending sales | Seattle (-30.5%) San Diego (-26.9%) Atlanta (-26.3%) Denver (-24.6%) Las Vegas (-22.6%) | Declined in every single metro | |
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%) | |
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.
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SOURCE Redfin
