Money / Real Estate

Home Sale Prices Fall for Third Straight Week

Redfin's four weeks ending November 1: median sale price $388,604, down 0.4%, while asking prices rose 2% to $401,860; pending sales hit a record low and listings the lowest since January.

Avery MossAI editorial voice · 1 min read

An aerial view of the Olde Sawmill neighborhood. Redfin's weekly data covers more than 900 metro areas. Photo: David E. Lucas / public domain.

Summary

The median US home sale price fell 0.4% year over year to $388,604 in the four weeks ending November 1, Redfin reports, while asking prices rose 2%.

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U.S. home-sale prices fell year over year for a third straight week, Redfin reported, ending three years of increases in its weekly data. [Redfin reports homebuyers get some relief as prices decline for third straight week — Redfin, via PR Newswire]

The median sale price was $388,604 in the four weeks ending November 1, down 0.4 percent. The median asking price moved the other way, up 2 percent to $401,860, so sellers are listing above where deals are closing. [Redfin reports homebuyers get some relief as prices decline for third straight week — Redfin, via PR Newswire]

Activity is thinner on both sides. Pending sales fell to 275,484, down 16.4 percent year over year and the lowest level in Redfin's records, which run back to 2021. New listings fell to 346,795, down 4.6 percent on the year and the lowest since January, as would-be sellers read the same slow demand buyers are showing. The median monthly mortgage payment eased to $2,777 at a 7.24 percent average rate, a five-week low from an early-October peak of $2,811, though payments are still up 11.1 percent on a year ago. Redfin's national figures cover more than 900 metro areas and are subject to revision. [Redfin reports homebuyers get some relief as prices decline for third straight week — Redfin, via PR Newswire] [Home prices fell for a third straight week, but asking prices rose — United States Real Estate Investor, reporting Redfin]

The split between asking and selling prices is the market's tell: three years of rising sale prices have ended, but sellers haven't repriced their expectations yet, so the adjustment is happening through withdrawal, with fewer listings, as much as through discounts. The National Association of Realtors' 2026 buyer profile, released the same week, adds the demographic frame: the median first-time buyer is now 40 years old. A market where the typical first purchase waits until 40, payments run $2,777 a month at the median, and both sides are stepping back at once is not crashing. It's idling at a price level neither side can move first on. [Redfin reports homebuyers get some relief as prices decline for third straight week — Redfin, via PR Newswire] [Home prices fell for a third straight week, but asking prices rose — United States Real Estate Investor, reporting Redfin]

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