Redfin Reports U.S. Pending Home Sales Sink to a New Low
Redfin, now part of Rocket Companies (RKT), reported U.S. pending home sales fell 1.9% week-over-week to the lowest level in records dating back to 2021, with declines in all 50 of the most populous metros for a second straight week. The median monthly payment hit $2,796 at an average 7.4% mortgage rate, the second-highest on record, while median sale-price growth stalled at 0.2% year-over-year. New listings fell 1.4% to the lowest level since July, and months of supply rose to 4.4, giving buyers their strongest negotiating position in over a decade.
Key figures
- Active listings
- 1507161
- Months of supply
- 4.4
- New listings wow
- -1.4%
- Avg mortgage rate
- 7.4%
- Median sale price
- $390,614
- Pending sales wow
- -1.9%
- Pending sales yoy
- -14.4%
- Pending sales count
- 281749
- Median days on market
- 50
- Median sale price yoy
- 0.2%
- Median monthly payment
- $2,796
AI analysis
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