Homebuyers are gaining more power, with new listings jumping and demand flat
SEATTLE, Sept. 3, 2026 /PRNewswire/ -- New listings of U.S. homes for sale rose 2.1% from a week earlier on a seasonally adjusted basis, reaching their highest level in four years. That's according to a new report from Redfin, the real estate brokerage powered by Rocket.
Other key indicators for the housing market for the four weeks ending August 30:
- The total number of homes for sale also ticked up. Active listings rose 0.4% week over week in welcome news for house hunters, who increasingly have more options and negotiating power.
- Demand isn't matching the uptick in supply. Pending home sales were essentially flat (-0.1%) from a week earlier, dipping to their lowest level since February. The disconnect between growing listings and sluggish sales is exacerbating the buyer's market being seen in most of the country.
- High housing costs are the biggest hurdle for prospective buyers. The typical U.S. home-sale price rose 2.2% year over year, while the average weekly mortgage rate was 6.66%, near its highest level in the last year.
- But list prices are coming down. The median U.S. asking price inched down 0.1% year over year--a tiny dip, but a sign that sellers may be adjusting their expectations as buyers negotiate and push back against high costs.
- Some homes are still attracting bidding wars. Just over one-quarter (25.9%) of U.S. homes that sold went for over their asking price. Move-in ready homes in desirable neighborhoods are selling fast, according to Redfin agents. Plus, some metro areas are hot: Prices are jumping in San Francisco and West Palm Beach as affluent buyers snap up high-end homes, and pending sales are rising in relatively affordable markets like Milwaukee and Cincinnati.
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 Source
change
Daily average 30-year fixed 6.91% (Sept. 2) Highest level in Up from 6.5% Mortgage News
over a Daily
mortgage rate year
Weekly average 30-year 6.66% (week ending Essentially
unchanged Up from 6.56% Freddie Mac
fixed mortgage rate Aug. 27) from a week earlier
Mortgage-purchase Up 2% from a week Essentially
unchanged Mortgage Bankers
applications (seasonally earlier (as of week (down 0.2%) Association
adjusted) ending Aug. 28)
Google searches of "homes Down 13% from a Down 6% Google Trends
for sale" month earlier (as
of
Aug. 29)
Touring activity Up 7% from the At this time last
start year, ShowingTime
of the year (as of
Aug. it was up 22% from
28) the start of 2025
Key housing-market data
U.S. highlights: Four weeks ending Aug. 30, 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 Year-over-year Week-over-week Notes
Aug. 30, 2026 change change (where
applicable)
Median sale price $398,632 2.2 %
Median asking price $392,828 -0.1 %
(seasonally adjusted)
Median monthly mortgage
$2,592 at a 6.66% mortgage rate 0.7 %
payment (seasonally
adjusted)
Pending sales (seasonally 308,282 -2.5 % -0.1 % Lowest level since
adjusted) February
New listings (seasonally 383,795 8 % 2.1 % Highest level since
adjusted) August 2022
Active listings (seasonally 1,511,313 2.4 % 0.4 %
adjusted)
Months of supply 4
Up from 3.7
4 to 5 months of
supply is considered
balanced, with a lower
number indicating
seller's market
conditions
Share of homes off market 30.4 % Essentially unchanged
in two weeks
Median days on market 45
Unchanged
Share of home listings with 20.9 % Up from 20.2%
price drops
Share of homes sold above 25.9 % Up from 25%
list price
Average sale-to-list price 98.7 % Up from 98.5%
ratio
Metro-level highlights: Four weeks ending Aug. 30, 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- Metros with biggest year- Notes
year increases over-year decreases
Median sale price
San Francisco (9%) Austin, TX (-7.1%)
West Palm Beach, FL (8.1%) Seattle (-6.2%)
Cincinnati (7.8%) Fort Worth, TX (-1.9%)
Milwaukee (7.4%) San Jose, CA (-1.7%)
Pittsburgh (7.4%) Orlando, FL (-1.4%)
Pending sales
Milwaukee (8.8%)
Seattle (-15.1%)
Virginia Beach, VA (3.4%) San Diego (-14.2%)
Cincinnati (3.2%) Denver (-13.5%)
Chicago (2.9%) Houston (-13%)
Montgomery County, PA (2.8%) Nassau County, NY (-10.2%)
New listings
San Jose, CA (29.4%)
Dallas (-11.2%)
Boston (26.1%) Atlanta (-8.8%)
Nashville, TN (21.5%) Fort Worth, TX (-7%)
Seattle (16.9%) San Antonio (-6%)
Philadelphia (14%) Indianapolis (-3.3%)
To view the full report, including charts, please visit: https://www.redfin.com/news/housing-market-update-new-listings-4-year-high
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.
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SOURCE Redfin
