Redfin Reports Pending Home Sales Dip to Lowest Level in Nearly 3 Years
The homebuyers who remain in the market have more choices, less competition and more negotiating power
SEATTLE, Sept. 17, 2026 /PRNewswire/ -- U.S. pending home sales fell 3.5% week over week to their lowest level in almost three years, according to a new report from Redfin, the real estate brokerage powered by Rocket.
Here's what else is happening in the U.S. housing market for the four weeks ending Sept. 13:
For Redfin economists' takes on the housing market, please visit Redfin's " From Our Economists" page.
Leading indicators
Indicators of homebuying demand and activity
Value (if applicable)
Recent change
Year-over-year change
Source
Daily average 30-year fixed mortgage rate
7.24% (Sept. 16)
Up from 6.97% one week earlier; near highest level since Jan. 2025
Up from 6.25%
Mortgage News Daily
Weekly average 30-year fixed mortgage rate
6.76% (week ending Sept. 10)
Up from 6.67% one month earlier
Up from 6.35%
Freddie Mac
Mortgage-purchase applications (seasonally adjusted)
Down 1% from a week earlier (as of week ending Sept. 11)
Down 19%
Mortgage Bankers Association
Google searches of "homes for sale"
Down 12% from a month earlier (as of Sept. 12)
Down 15%
Google Trends
Touring activity
Down 3% from the start of the year (as of Sept. 10)
At this time last year, it was up 26% from the start of 2025
ShowingTime
Key housing-market data
U.S. highlights: Four weeks ending Sept. 13, 2026
Redfin's national metrics include data from 900+ U.S. metro areas and are based on homes listed and/or sold during the period. Weekly housing-market data goes back through 2021. Subject to revision.
Four weeks ending Sept. 13, 2026
Year-over-year change
Week-over-week change (where applicable)
Notes
Median sale price
$397,633
2 %
Median asking price (seasonally adjusted)
$395,841
0.1 %
Median monthly mortgage payment (seasonally adjusted)
$2,633 at a 6.76% mortgage rate
3.4 %
Pending sales (seasonally adjusted)
299,126
-5.4 %
-3.5 %
Lowest level in nearly 3 years
New listings (seasonally adjusted)
363,298
1.5 %
-0.5 %
Active listings (seasonally adjusted)
1,497,731
1.5 %
-0.6 %
Months of supply
4.1
Up from 3.9
4 to 5 months of supply is considered balanced, with a lower number indicating seller's market conditions
Share of homes off market in two weeks
29.5 %
Down from 29.7%
Median days on market
46
Unchanged
Share of home listings with price drops
20.8 %
Up from 19.7%
Share of homes sold above list price
25.1 %
Up from 24.5%
Average sale-to-list price ratio
98.6 %
Up from 98.4%
Metro-level highlights: Four weeks ending Sept. 13, 2026
Redfin's metro-level rankings data includes the 50 most populous U.S. metros. Select metros may be excluded from time to time to ensure data accuracy.
Metros with biggest year-over-
year increases
Metros with biggest year-
over-year decreases
Notes
Median sale price
San Francisco (10.2%)
Milwaukee (9.3%)
Kansas City, MO (7.9%)
Cleveland (7.6%)
St. Louis (6.8%)
San Jose, CA (-5%)
Austin, TX (-4.6%)
San Antonio (-4.3%)
Seattle (-3.9%)
Fort Worth, TX (-3.1%)
Pending sales
Fort Lauderdale, FL (6.6%)
Miami (4%)
West Palm Beach, FL (3.8%)
Milwaukee (3.8%)
Cincinnati (2%)
Seattle (-20.3%)
Denver (-15%)
San Diego (-14.7%)
Atlanta (-14.6%)
Houston (-13.7%)
New listings
Nashville, TN (15.6%)
San Jose, CA (13.9%)
Anaheim, CA (12.7%)
Seattle (10.5%)
Philadelphia (9.7%)
Atlanta (-13.3%)
Dallas (-9.4%)
San Francisco (-9.2%)
Detroit (-7.2%)
Fort Worth, TX (-6.3%)
To view the full report, including charts, please visit: https://www.redfin.com/news/housing-market-update-pending-sales-lowest-level-since-2023
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