U.S. Home-Sale Prices Just Fell for the First Time in 3 Years
Redfin, the brokerage owned by Rocket Companies, reported the first year-over-year decline in the median U.S. home-sale price in more than three years: $389,601, down 0.1%. Demand deteriorated sharply, with pending sales down 15.9% year over year to a record low, while the median mortgage payment of $2,786 sits near its all-time high at a 7.32% average mortgage rate.
Key figures
- New listings
- 352421
- Pending sales
- 276352
- Active listings
- 1510619
- Months of supply
- 4.5
- Median sale price
- $389,601
- Pending sales wow
- -1.8%
- Pending sales yoy
- -15.9%
- Median days on market
- 50
- Median sale price yoy
- -0.1%
- Median mortgage payment
- $2,786
- Mortgage rate weekly avg
- 7.32%
- Share listings price drops
- 21.5%
- Median mortgage payment yoy
- +10.7%
AI analysis
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AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.