US Home Prices Fall for First Time in 3+ Years as Demand Hits Low
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SEATTLE – October 29, 2026 -- The median U.S. home-sale price fell 0.1% year over year to $389,601 in the four weeks ending Oct. 25, the first annual decline in more than three years, according to Redfin.
Prices decline for a second straight week after three years of gains
The latest drop follows a 0.2% decline the previous week. Prices had risen for three straight years before turning down.
Pending sales fall to the lowest level in records dating to 2021
Pending home sales dropped 1.8% from a week earlier. For the third consecutive week, pending sales declined in all 50 of the most populous U.S. metro areas.
Monthly mortgage payment reaches $2,786, up 10.7% year over year
The median payment is the second-highest in Redfin's records, behind only the prior week. The weekly average mortgage rate was 7.32%, down from 7.4% a week earlier but still near a three-year high.