Pending home sales succumbed to the fifth week in a row, and brand-new
listings decreased, too. The median U.S. monthly housing payment struck $2,647 throughout the 4 weeks ending June 14, its highest level in a year and almost $100 shy of 2023’s all-time high.
Housing payments are rising since both home-sale costs and mortgage rates stay stubbornly high. The mean sale price increased 2.3% year over year to a record high of $403,889, and the weekly average home loan rate is 6.52%, near its highest level in 10 months. The typical daily rate dropped to 6.54% on Wednesday from 6.75% a month earlier in the wake of the newly announced peace deal with Iran.
High expenses are pricing many would-be property buyers out of the market, and extensive economic uncertainty is causing others to hesitate before making a significant purchase. That has pressed pending home sales down 0.6% week over week, the 5th straight week of declines.
Some potential sellers are withdrawing, too, as they observe diminishing need. New listings fell 0.4% week over week, and the total variety of homes for sale fell 0.1%.
With numerous thousands more home sellers than purchasers nationwide, Redfin representatives are recommending sellers to rate competitively. “A great deal of sellers want to list higher than they should, and my biggest struggle is getting them to price with the marketplace– or simply below the marketplace, if they want to develop a craze,” said Dawn Kane, a Redfin Premier agent in Maryland and Pennsylvania. “Residences that simply hit the market are generally the most popular, so pricing high and letting a home sit can stigmatize a listing. Do not be your house priced at $1 million in an area where comparable homes are selling for $800,000-$900,000.”
For Redfin economists’ takes on the real estate market, please check out Redfin’s “From Our Economists” page.
Leading signs
Indicators of homebuying
returns through 2021. Topic
to
| revision. Four weeks ending June 14, 2026
Year-over-year change Notes Average list price$403,889 2.3% Typical asking rate(seasonally changed)$405,651 2.7 %Typical month-to-month home mortgage payment( seasonally changed) $2,647 at a 6.52%mortgage rate 0.1 %Greatest level |
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| in a year Pending sales | (seasonally changed)331,987 3.5 | %Brand-new listings(seasonally changed)363,578 1.9% Active listings | (seasonally changed)1,490,116 0.6 | ||||||||||||||||||||||||||||||
| %Months of supply 3.4 -0.2 pts. 4 to 5 months of supply is considered well balanced, with | a lower number showing seller’s | market conditions Share of homes off market in 2 weeks 37.2 | %Up from 37% Median days on market | 39 +1 | day Share of home listings with rate drops 19.4 | %Down from about 21%Share of homes sold above sticker price 28.4%Basically the same Average sale-to-list
| cost ratio 99.1%Down a little Metro-level |
highlights: 4 weeks ending |
| June 14, 2026 Redfin’s metro-level information consists of the
| 50 most populous |
U.S. |
|
metros. Select metros might be excluded from time
| to time to ensure information precision. Metros with most significant year-over-year boosts Metros with greatest year-over-year reductions |
Notes Mean list price San Francisco (10.4 |
% |
)Pittsburgh |
| (9.3%) St. Louis (8.3%) |
Chicago |
(7.7%) |
| Jacksonville, FL(7.6%) San Jose, CA (-5.3 |
% |
)Portland, OR(-2.4% |
| )Seattle (-2%) San Antonio (-1.9 %)Orlando |
, FL(-1.5%) |
Decreased in 11 metros Pending sales West Palm Beach
| , FL(31.9 %)San Francisco(23.8 %)Milwaukee |
(14.8 |
%)Austin, TX(14.8%)Newark, |
|
|
NJ(12.5%)Houston(-11.9% )Seattle(-11.8%)Detroit (-3.7%)Atlanta(-3.7%)Denver( -2.1%)New listings Boston(16.8% )Montgomery County, PA( 13.3%)Philadelphia(12.7%) St. Louis(11.5%)Chicago (10.5%) Dallas(-12.6%) Indianapolis(-6.7%) |
|||
|---|---|---|---|
| Riverside, CA (-6.5%) San Antonio(-5% )Atlanta( | -4.5%) Refer to our metrics definition page for explanations |
of all |
|
| the metrics utilized in this report | . |