Redfin Reports Homebuyers Get Some Relief as Prices Decline for Third Straight Week, Monthly Payments Dip

New listings of homes for sale fell to their lowest level since the start of the year, but there are still significantly more sellers than buyers in the market

SEATTLE, Nov. 5, 2026 /PRNewswire/ -- U.S. home-sale prices fell year over year for the third week in a row, according to a new report from Redfin, the real estate brokerage powered by Rocket.

U.S. housing market takeaways for the four weeks ending Nov. 1:

• Home-sale prices dip. The median home-sale price was $388,604, down 0.4% year over year. That marks the third straight week in which prices declined after three years of increases.
• Monthly payments dropped to a five-week low. The median monthly mortgage payment was $2,777, down from a peak of $2,811 in early October. This data is seasonally adjusted. Costs declined because mortgage rates and sale prices are slowly coming down.
• House-hunting activity declined. Pending home sales fell 0.6% week over week to the lowest level in records dating back to 2021.
• Sellers pulled back, too. New listings dropped 1.5% from a week earlier to the lowest level since January, as would-be sellers reacted to slow demand.
• The slow market is giving buyers room to negotiate. The buyers who are out there may be able to negotiate prices down and/or get other concessions from sellers. Buyers have more homes to choose from than a year ago, and less competition: There are 2.1% more homes on the market than a year ago, while homes are taking a bit longer to sell.

For Redfin economists' takes on the housing market, please visit Redfin's "From Our Economists" page.

For more national and metro-level housing-market stats, please visit Redfin's data center.

To view the full report, please visit: https://www.redfin.com/news/housing-market-update-sale-prices-keep-declining/

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.

SOURCE Redfin