U.S. Home Prices Slip as Mortgage Payments Stay Elevated

The typical U.S. home sold for $389,601 during the four weeks that ended Oct. 25, 2026. That was a 0.1% yearly decline, marking the first drop in more than three years aside from the previous week. At the same time, the typical monthly mortgage payment reached $2,786, calculated using a 7.32% mortgage rate. Redfin said that was the second-highest figure in its records.

Buyer activity remained especially weak. Seasonally adjusted pending sales totaled 276,352, down 15.9% from a year earlier and 1.8% from the prior week. New listings fell 4% year over year to 352,421, their lowest point since January. The number of homes for sale rose 2.2% to 1,510,619, bringing supply to 4.5 months, up from four months. Redfin considers four to five months balanced. Among major metros, Austin had a 4.6% price decline, followed by Kansas City at 4.3% and Nashville at 3.3%. Pending sales fell in every metro analyzed for a third straight week, with Seattle down 31.6% and Denver down 22.3%.