The median U.S. home-sale price has fallen for the first time in more than three years, according to a new report from Redfin, the real estate brokerage powered by Rocket.

U.S. housing market takeaways for the four weeks ending Oct. 25:

• Home-sale prices ticked down. The median home-sale price was $389,601, down 0.1% year over year. That marks the second straight week in which prices ticked down—it follows a 0.2% decline last week—after three straight years of increases.
• Homebuying demand fell to a new low. Pending home sales declined 1.8% from a week earlier to the lowest level in records dating back to 2021. For the third week in a row, pending sales declined in all 50 of the most populous U.S. metro areas.
• The typical homebuyer's monthly payment hit its second-highest level on record. The median mortgage payment was $2,786, up 10.7% year over year to the highest level in Redfin's record except the prior week. The weekly average mortgage rate is 7.32%, down from 7.4% a week earlier but still near a three-year high.
• Would-be sellers pulled back. New listings declined 0.6% from a week earlier to their lowest level since the start of the year as homeowners react to slow homebuying demand.
• Total supply is creeping up. The total number of homes for sale ticked up 0.3% from a week earlier. Even though new listings are falling, pending sales are falling more, keeping the pool of inventory partly filled. There are hundreds of thousands more home sellers than buyers nationwide, giving buyers more negotiating power than they've had in over a decade.

For Redfin economists' takes on the housing market, please visit Redfin's "From Our Economists" page.

Key Housing Market Data

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-home-sale-prices-fall-october-2026