Extra houses are hitting the market, however fewer consumers are buying them, giving home hunters a possibility to barter costs and ask for concessions.
New listings rose 0.4% from every week earlier through the 4 weeks ending August 23 to their highest stage since April. The whole variety of houses on the market rose 0.5% week over week, hitting their highest stage since Might.
Pending residence gross sales, in the meantime, fell 1.1% from every week earlier to their lowest stage in six months. Would-be consumers are sitting on the sidelines largely as a result of housing prices are excessive: The median U.S. home-sale value rose 1.9% yr over yr to over $400,000, and the weekly common mortgage price is 6.65%–down from a peak of 6.69% two weeks earlier, however nonetheless close to the best stage in 13 months. Some home hunters are additionally holding off on account of financial uncertainty, with some ready to see if mortgage charges come down within the subsequent few months.
With stock rising and demand declining, the homebuyers who’re available in the market may get a deal. It’s a big-time purchaser’s market in a lot of the nation, led by Miami, Nashville and far of Texas; in these locations, consumers might be able to negotiate costs down and/or get concessions. A separate Redfin evaluation discovered that late August or early September are prime occasions for consumers to attain a deal in 11 U.S. metro areas, together with a lot of California, Seattle and a pair of New York Metropolis suburbs.
“Consumers have a possibility to get a deal completed earlier than the market doubtlessly picks again up after Labor Day,” stated Chen Zhao, Redfin’s head of economics analysis. “Home hunters ought to contemplate houses which were listed for a number of weeks; sellers of these houses could also be keen to simply accept a suggestion underneath asking value, present concessions like a mortgage-rate buydown or make repairs based mostly on an inspection. Sellers ought to resist the urge to cost based mostly on what a neighbor received a yr or two in the past: Pricing a house appropriately from the beginning will be the distinction between attracting a critical purchaser and lingering available on the market.”
For Redfin economists’ takes on the housing market, please go to Redfin’s “From Our Economists” web page.
Main indicators
Indicators of homebuying demand and exercise
Worth (if relevant)
Current change
Yr-over-year change
Supply
Day by day common 30-year mounted mortgage price
6.75% (Aug. 26)
Down from 6.8% every week earlier
Up from 6.61%
Mortgage Information Day by day
Weekly common 30-year mounted mortgage price
6.65% (week ending Aug. 20)
Lowest stage in a month
Up from 6.58%
Freddie Mac
Mortgage-purchase purposes (seasonally adjusted)
Down 0.3% from every week earlier (as of week ending Aug. 21)
Down 5%
Mortgage Bankers Affiliation
Google searches of “houses on the market”
Primarily unchanged from a month earlier (as of Aug. 15)
Primarily unchanged
Google Tendencies
Touring exercise
Up 8% from the beginning of the yr (as of Aug. 15)
At the moment final yr, it was up 27% from the beginning of 2025
ShowingTime
Key housing-market knowledge
U.S. highlights: 4 weeks ending Aug. 23, 2026
Redfin’s nationwide metrics embrace knowledge from 900+ U.S. metro areas and are based mostly on houses listed and/or offered through the interval. Weekly housing-market knowledge goes again by way of 2021. Topic to revision.
4 weeks ending Aug. 23, 2026
Yr-over-year change
Week-over-week change (the place relevant)
Notes
Median sale value
$400,649
1.9%
Median asking value (seasonally adjusted)
$394,353
Unchanged
Median month-to-month mortgage cost (seasonally adjusted)
$2,600 at a 6.65% mortgage price
0.6%
Pending gross sales (seasonally adjusted)
307,830
-3.1%
-1.1%
Lowest stage since February
New listings (seasonally adjusted)
376,235
6%
0.4%
Highest stage since April
Energetic listings (seasonally adjusted)
1,504,085
1.6%
0.5%
Months of provide
3.8
Up from 3.7
4 to five months of provide is taken into account balanced, with a decrease quantity indicating vendor’s market circumstances
Share of houses off market in two weeks
30.8%
Primarily unchanged
Median days on market
44
Unchanged
Share of residence listings with value drops
20.8%
Primarily unchanged
Share of houses offered above checklist value
26.3%
Up from about 25%
Common sale-to-list value ratio
98.8%
Up from 98.6%
Metro-level highlights: 4 weeks ending Aug. 23, 2026
Redfin’s metro-level rankings knowledge consists of the 50 most populous U.S. metros. Choose metros could also be excluded now and again to make sure knowledge accuracy.
Metros with largest year-over-year will increase
Metros with largest year-over-year decreases
Notes
Median sale value
West Palm Seashore, FL (10.2%)
Newark, NJ (8.9%)
Pittsburgh (7.9%)
Cleveland (7.5%)
Milwaukee (7.2%)
Seattle (-4.6%)
Austin, TX (-3.7%)
Fort Value, TX (-1.7%)
San Jose, CA (-1.7%)
Houston (-1.5%)
Pending gross sales
West Palm Seashore, FL (4.7%)
Milwaukee (4.3%)
San Francisco (3.3%)
St. Louis (2.4%)
Cincinnati (2.2%)
Seattle (-18.1%)
Houston (-15.3%)
Denver (-13.2%)
San Diego (-12.9%)
Atlanta (-10.6%)
New listings
Virginia Seashore, VA (14.3%)
San Jose, CA (13.3%)
Boston (9%)
St. Louis (8.9%)
Seattle (8.9%)
Dallas (-12.3%)
Atlanta (-9.4%)
San Antonio (-4.6%)
Columbus, OH (-4.2%)
Jacksonville, FL (-4.2%)
Confer with our metrics definition web page for explanations of all of the metrics used on this report.
The put up New Listings Hit 4-Month Excessive Whereas Demand Slips, Giving Severe Consumers Probability to Get a Deal Executed appeared first on Redfin Actual Property Information.
