PR Newswire
The housing market is gaining slight momentum as the summer winds down, but demand remains subdued overall
SEATTLE, Aug. 13, 2026 /PRNewswire/ — U.S. pending home sales edged up 0.4% week over week during the four weeks ending August 9 on a seasonally adjusted basis, offering a small boost to this summer’s sluggish housing market. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket. Mortgage-purchase applications rose 3% week over week.
Pending sales are still at their second-lowest level since March, and the latest weekly uptick may reflect normal week-to-week changes rather than a meaningful shift in momentum. On a year-over-year basis, pending sales are down 1.6%.
Many would-be homebuyers are still on the sidelines, largely because mortgage rates are high: The weekly average mortgage rate is 6.69%, its highest level in over a year, pushing the median monthly housing payment up 1.7% year over year to $2,626. Some house hunters are also turned off by the topsy turvy economy.
The selling side gained a bit more steam, with new listings jumping 1.7% from a week earlier—the biggest gain in five months. The increase in new listings, along with many homes for sale lingering on the market, pushed the total number of listings up 0.7% week over week. The uptick in listings gives buyers in much of the country more negotiating power.
“Buyers should know that this isn’t 2021 and 2022; the sellers’ list price is a starting point for negotiations,” said Sheryl Wingate, a Redfin Premier agent in the greater Seattle area. “Some sellers are flexible, and their biggest priority is selling their home quickly: If a buyer loves a home, they should make an offer they’re comfortable with, ask for the concessions they want, and open negotiations. More often than not, they can get a deal done.”
Wingate also noted that even in a slow market, some homes are competitive. Clean, turnkey, relatively affordable homes tend to sell quickly, and luxury homes are attracting buyers who are less sensitive to mortgage rates and economic conditions.
For Redfin economists’ takes on the housing market, please visit Redfin’s “From Our Economists” page.
Leading indicators
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6.74% (Aug. 12) |
Down from 6.83% a |
Up from 6.57% |
Mortgage News Daily |
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6.69% (week ending |
Highest level in over |
Up from 6.63% |
Freddie Mac |
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Up 3% from a week |
Down 1% |
Mortgage Bankers |
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Unchanged from a |
Down 3% |
Google Trends |
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Up 12% from the |
At this time last year, it |
ShowingTime |
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Key housing-market data
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$403,706 |
2.2 % |
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$397,008 |
1.2 % |
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$2,626 at a 6.69% |
1.7 % |
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314,136 |
-1.6 % |
0.4 % |
Lowest level since March, |
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360,843 |
2.2 % |
1.7 % |
Biggest weekly increase |
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1,480,356 |
0.5 % |
0.7 % |
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3.7 |
Unchanged |
4 to 5 months of supply |
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31.9 % |
Unchanged |
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42 |
Unchanged |
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21 % |
Unchanged |
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27.2 % |
Up from about 26% |
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98.9 % |
Up from 98.7% |
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Newark, NJ (9.9%) West Palm Beach, FL (9%) San Francisco (7.8%) Chicago (7.7%) St. Louis (7.6%)
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Seattle (-3.8%) San Jose, CA (-3%) Austin, TX (-2.2%) Las Vegas (-1.6%) Dallas (-1.5%) |
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West Palm Beach, FL (16.4%) Cincinnati (6.5%) Pittsburgh (6.3%) Warren, MI (5.4%) Montgomery County, PA (5.1%)
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Seattle (-18.5%) Houston (-15.9%) San Diego (-11.7%) Denver (-10.5%) Atlanta (-8%) |
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San Jose, CA (16.2%) St. Louis (13.4%) Virginia Beach, VA (12.5%) Houston (11.5%) Cleveland (10.6%)
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Dallas (-14.6%) San Antonio (-10.1%) Fort Worth, TX (-9.6%) Atlanta (-9.6%) Miami (-6.8%) |
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To view the full report, including charts, please visit:
https://www.redfin.com/news/housing-market-update-flicker-of-life-august
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.
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SOURCE Redfin
