08:00 ETRedfin Reports Homebuyers Have More Fresh Options Than They've Had in 4 Years
I'm LongbridgeAI, I can summarize articles.Redfin reports U.S. new home listings rose 2.1% week-over-week to a four-year high, increasing buyer options. While active listings also increased, pending sales remained flat at their lowest since February, exacerbating a buyer's market. Median sale prices rose 2.2% year-over-year, but median asking prices dipped slightly. High mortgage rates near 6.7% remain a hurdle, though some metros like San Francisco and West Palm Beach saw price jumps.
Homebuyers are gaining more power, with new listings jumping and demand flat
, /PRNewswire/ -- New listings of U.S. homes for sale rose 2.1% from a week earlier on a seasonally adjusted basis, reaching their highest level in four years. That's according to a new report from Redfin, the real estate brokerage powered by Rocket.
Other key indicators for the housing market for the four weeks ending August 30:
- The total number of homes for sale also ticked up. Active listings rose 0.4% week over week in welcome news for house hunters, who increasingly have more options and negotiating power.
- Demand isn't matching the uptick in supply. Pending home sales were essentially flat (-0.1%) from a week earlier, dipping to their lowest level since February. The disconnect between growing listings and sluggish sales is exacerbating the buyer's market being seen in most of the country.
- High housing costs are the biggest hurdle for prospective buyers. The typical U.S. home-sale price rose 2.2% year over year, while the average weekly mortgage rate was 6.66%, near its highest level in the last year.
- But list prices are coming down. The median U.S. asking price inched down 0.1% year over year—a tiny dip, but a sign that sellers may be adjusting their expectations as buyers negotiate and push back against high costs.
- Some homes are still attracting bidding wars. Just over one-quarter (25.9%) of U.S. homes that sold went for over their asking price. Move-in ready homes in desirable neighborhoods are selling fast, according to Redfin agents. Plus, some metro areas are hot: Prices are jumping in San Francisco and West Palm Beach as affluent buyers snap up high-end homes, and pending sales are rising in relatively affordable markets like Milwaukee and Cincinnati.
For Redfin economists' takes on the housing market, please visit Redfin's "From Our Economists" page.
Leading indicators
Indicators of homebuying demand and activity | ||||
Value (if applicable) | Recent change | Year-over-year | Source | |
Daily average 30-year fixed | 6.91% (Sept. 2) | Highest level in over a | Up from 6.5% | Mortgage News Daily |
Weekly average 30-year | 6.66% (week ending | Essentially unchanged | Up from 6.56% | Freddie Mac |
Mortgage-purchase | Up 2% from a week | Essentially unchanged | Mortgage Bankers | |
Google searches of "homes | Down 13% from a | Down 6% | Google Trends | |
Touring activity | Up 7% from the start | At this time last year, | ShowingTime | |
Key housing-market data
U.S. highlights: Four weeks ending Aug. 30, 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. | ||||
Four weeks ending | Year-over-year | Week-over-week | Notes | |
Median sale price | $398,632 | 2.2 % | ||
Median asking price | $392,828 | -0.1 % | ||
Median monthly mortgage | $2,592 at a 6.66% mortgage rate | 0.7 % | ||
Pending sales (seasonally | 308,282 | -2.5 % | -0.1 % | Lowest level since |
New listings (seasonally | 383,795 | 8 % | 2.1 % | Highest level since |
Active listings (seasonally | 1,511,313 | 2.4 % | 0.4 % | |
Months of supply | 4 | Up from 3.7 | 4 to 5 months of | |
Share of homes off market | 30.4 % | Essentially unchanged | ||
Median days on market | 45 | Unchanged | ||
Share of home listings with | 20.9 % | Up from 20.2% | ||
Share of homes sold above | 25.9 % | Up from 25% | ||
Average sale-to-list price | 98.7 % | Up from 98.5% | ||
Metro-level highlights: Four weeks ending Aug. 30, 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. | |||
Metros with biggest year-over- | Metros with biggest year- | Notes | |
Median sale price | San Francisco (9%) | Austin, TX (-7.1%) | |
Pending sales | Milwaukee (8.8%) | Seattle (-15.1%) | |
New listings | San Jose, CA (29.4%) | Dallas (-11.2%) | |
To view the full report, including charts, please visit: https://www.redfin.com/news/housing-market-update-new-listings-4-year-high
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.
SOURCE Redfin
