Redfin Reports Pending Home Sales Sink to 5-Month Low As Mortgage Rates Rise

Indicators of homebuying demand and activity

Value (if applicable)

Recent change

Year-over-year
change

Source

Daily average 30-year
fixed mortgage rate

6.82% (Aug. 3)

Near highest level in
over a year

Up from 6.57%

Mortgage News Daily

Weekly average 30-year
fixed mortgage rate

6.66% (week ending
July 30)

Highest level in
nearly a year

Down from 6.72%

Freddie Mac

Mortgage-purchase
applications (seasonally adjusted)

Down 4% from a
week earlier (as of
week ending July 29)

Up 3%

Mortgage Bankers
Association

Google searches of
“homes for sale”

Down about 3% from
a month earlier (as of
Aug. 2)

Down 6%

Google Trends

Touring activity

Up 12% from the
start of the year (as of
July 26)

At this time last year, it
was up 29% from the
start of 2025

ShowingTime

U.S. highlights: Four weeks ending Aug. 2, 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 Aug. 2, 2026

Year-over-year change

Week-over-week
change (where applicable)

Notes

Median sale price

$406,362

2.9 %

Median asking price
(seasonally adjusted)

$398,666

1.1 %

Median monthly mortgage
payment (seasonally adjusted)

$2,631 at a 6.66% mortgage rate

0.6 %

Pending sales (seasonally adjusted)

311,150

-1.9 %

-3.7 %

Lowest level in over 5
months, biggest weekly
decline since 2022

New listings (seasonally adjusted)

354,313

0.2 %

1 %

Active listings (seasonally adjusted)

1,468,943

-0.3 %

-1.5 %

Months of supply

3.6

Unchanged

4 to 5 months of supply 
is considered balanced,
with a lower number
indicating seller’s
market conditions

Share of homes off market in two weeks 

31.5 %

Unchanged

Median days on market

41

-1 day

Share of home listings with price drops

21.5 %

Unchanged

Share of homes sold above list price

27.6 %

Up from about 27%

Average sale-to-list price ratio

99 %

Up from 98.8%

Metro-level highlights: Four weeks ending Aug. 2, 2026

Redfin’s metro-level 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-
year increases

Metros with biggest year-over-
year decreases

Notes

Median sale price

Newark, NJ (9.8%)

West Palm Beach, FL (9.5%)

Baltimore (7.6%)

St. Louis (6.8%)

Cleveland (6.5%)

San Jose, CA (-4.2%)

Seattle (-1.8%)

Dallas (-1.6%)

Los Angeles (-0.8%)

Indianapolis (-0.4%)

Portland, OR (-0.4%)

Las Vegas (-0.3%)

Declined in 7 metros

Pending sales

West Palm Beach, FL (13%)

Cincinnati (7.1%)

Pittsburgh (6.7%)

St. Louis (3.9%)

Chicago (3.4%)

Seattle (-19.8%)

Houston (-17.1%)

Phoenix (-15%)

Denver (-10.9%)

Atlanta (-9.8%)

New listings

St. Louis (13%)

San Jose, CA (11.7%)

Montgomery County, PA (9.7%)

Boston (9.4%)

Chicago (8.1%)

Dallas (-12.6%)

Atlanta (-10.9%)

Fort Worth, TX (-10.8%)

Miami (-10.1%)

San Antonio (-9.8%)