Redfin data: US new home listings slide 1.7% to lowest since February as spring market fades

US new home listings fell 1.7% to their lowest level since February, with active inventory slipping 0.4% to 1.49 million. Median sale prices rose 2.5% year-over-year to a record $408,814, while the average 30-year mortgage rate stood at 6.47%. Affordability pressures weighed on demand, causing mortgage-purchase applications to drop 1%, though pending sales increased 4.2% annually. Negotiating leverage shifted toward buyers, with nearly half of sellers offering concessions in May.

Rocket-backed Redfin data showed new U.S. home listings fell 1.7% in the week ended June 21 to the lowest since February. * Active inventory slipped 0.4% week over week to 1.49 million; pending sales edged down 0.1% week over week. * Median U.S. sale price rose 2.5% year over year to a record USD 408,814; weekly average 30-year rate was 6.47%. * Affordability pressure weighed on demand; mortgage-purchase applications fell 1% week over week, while pending sales rose 4.2% year over year. * Negotiating leverage shifted toward buyers; nearly half of sellers offered concessions in May, while months of supply held at 3.5. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Rocket Companies Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 202606250800BIZWIRE_USPR_____20260625_BW107443) on June 25, 2026, and is solely responsible for the information contained therein. © Copyright 2026 - Public Technologies (PUBT)

Rocket-backed Redfin data showed new U.S. home listings fell 1.7% in the week ended June 21 to the lowest since February. * Active inventory slipped 0.4% week over week to 1.49 million; pending sales edged down 0.1% week over week. * Median U.S. sale price rose 2.5% year over year to a record USD 408,814; weekly average 30-year rate was 6.47%. * Affordability pressure weighed on demand; mortgage-purchase applications fell 1% week over week, while pending sales rose 4.2% year over year. * Negotiating leverage shifted toward buyers; nearly half of sellers offered concessions in May, while months of supply held at 3.5. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Rocket Companies Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 202606250800BIZWIRE_USPR_____20260625_BW107443) on June 25, 2026, and is solely responsible for the information contained therein. © Copyright 2026 - Public Technologies (PUBT)