Redfin Reports U.S. Pending Home Sales Sink to a New Low
Would-be homebuyers are pulling back as mortgage rates remain in the mid-7% range
SEATTLE, Oct. 22, 2026 /PRNewswire/ -- U.S. pending home sales fell 1.9% from a week earlier to the lowest level in records dating back to 2021, according to a new report from Redfin, the real estate brokerage powered by Rocket.
U.S. housing market takeaways for the four weeks ending Oct. 18:
For Redfin economists' takes on the housing market, please visit Redfin's " From Our Economists" page.
Key Housing Market Data
U.S. highlights: Four weeks ending Oct. 18, 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 Oct.
18, 2026
Year-over-year change
Week-over-week change
(where applicable)
Notes
Median sale price
$390,614
0.2 %
Median asking price
(seasonally adjusted)
$399,629
0.9 %
Median monthly
mortgage payment
(seasonally adjusted)
$2,796 at a 7.4% mortgage rate
10.4 %
Second-highest level in
Redfin's records
Pending sales
(seasonally adjusted)
281,749
-14.4 %
-1.9 %
Lowest level in Redfin's
records
New listings
(seasonally adjusted)
354,412
-2.7 %
-1.4 %
Biggest weekly decline in
three months
Active listings
(seasonally adjusted)
1,507,161
2.1 %
0.1 %
Months of supply
4.4
Up from 4
4 to 5 months of supply is
considered balanced
Share of homes off
market in two weeks
28.3 %
Down from 29%
Median days on
market
50
1
Share of home listings
with price drops
21.7 %
Up from 21%
Share of homes sold
above list price
23.3 %
Up from 23.1%
Average sale-to-list
price ratio
98.4 %
Up from 98.3%
Metro-level highlights: Four weeks ending Oct. 18, 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 (12.9%)
New Brunswick, NJ (6.9%)
Detroit (6.9%)
Pittsburgh (6.9%)
Cleveland (5.7%)
Seattle (-6.2%)
San Jose, CA (-4.7%)
Orlando, FL (-3.8%)
Austin, TX (-2.8%)
Charlotte, NC (-2.8%)
Pending sales
Seattle (-28.8%)
San Diego (-25.4%)
Atlanta (-23.8%)
Denver (-21%)
Las Vegas (-20.6%)
Declined in every metro Redfin
analyzed for the second week in a
row
New listings
Nashville, TN (18.7%)
San Jose, CA (17.7%)
Newark, NJ (11.8%)
San Francisco (11.7%)
Boston (10.2%)
Atlanta (-24.2%)
San Antonio (-17.4%)
Dallas (-11.1%)
Fort Worth, TX (-9.5%)
Las Vegas (-8.4%)
For more national and metro-level housing-market stats, please visit Redfin's data center.
To view the full report, please visit: https://www.redfin.com/news/housing-market-update-pending-home-sales-sink-high-rates
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