Seattle – November 12, 2026 -- The median U.S. home-sale price fell 0.9% year over year to $388,613 in the four weeks ending Nov. 8, the fourth consecutive weekly decline after three years of increases, according to Redfin.
Monthly mortgage payment drops to a six-week low of $2,755
The median monthly mortgage payment, seasonally adjusted, was $2,755 at a weekly average mortgage rate of 7.18%. That compares with $2,820 a month earlier. Falling prices and slightly lower rates are both easing the cost of buying.
Pending sales stay flat at the lowest level since 2021
Pending home sales slipped 0.1% from a week earlier and remain at the lowest level in Redfin's records dating back to 2021. Redfin said dipping mortgage rates likely prevented a bigger decline.
Daily average rates fell to a six-week low of 7.17% last week. They have since ticked back up after a hot inflation report.
Sellers outnumber buyers by about 600,000
Active listings were flat from a week earlier, while new listings fell 1.3%. There are about 600,000 more home sellers than buyers in the U.S., leaving buyers with plenty of options.
Condo buyers hold the strongest negotiating position. Condo sellers outnumber buyers by more than 2 to 1.