New listings edged higher, but buyers pulled back as mortgage rates climbed to their highest level in nearly a year

SEATTLE, Aug. 6, 2026 /PRNewswire/ -- The number of homes going under contract fell 3.7% week over week nationwide—the steepest decline since 2022—as would-be buyers pressed pause amid high mortgage rates. That's according to a new report from Redfin, the real estate brokerage powered by Rocket.

Redfin is taking a break from analysis this week, but please see the tables and charts below for this week's housing-market data.

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	6.82% (Aug. 3)	Near highest level in over a year	Up from 6.57%	Mortgage News Daily
Weekly average 30-year fixed mortgage rate	6.66% (week ending July 30)	Highest level in nearly a year	Down from 6.72%	Freddie Mac
Mortgage-purchase applications (seasonally adjusted)		Down 4% from a week earlier (as of week ending July 29)	Up 3%	Mortgage Bankers Association
Google searches of "homes for sale"		Down about 3% from a month earlier (as of Aug. 2)	Down 6%	Google Trends
Touring activity		Up 12% from the start of the year (as of July 26)	At this time last year, it was up 29% from the start of 2025	ShowingTime

Key housing-market data

U.S. highlights: Four weeks ending Aug. 2, 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 Aug. 2, 2026	Year-over-year change	Week-over-week change (where applicable)	Notes
Median sale price	$406,362	2.9 %
Median asking price (seasonally adjusted)	$398,666	1.1 %
Median monthly mortgage payment (seasonally adjusted)	$2,631 at a 6.66% mortgage rate	0.6 %
Pending sales (seasonally adjusted)	311,150	-1.9 %	-3.7 %	Lowest level in over 5 months, biggest weekly decline since 2022
New listings (seasonally adjusted)	354,313	0.2 %	1 %
Active listings (seasonally adjusted)	1,468,943	-0.3 %	-1.5 %
Months of supply	3.6	Unchanged		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	31.5 %	Unchanged
Median days on market	41	-1 day
Share of home listings with price drops	21.5 %	Unchanged
Share of homes sold above list price	27.6 %	Up from about 27%
Average sale-to-list price ratio	99 %	Up from 98.8%

Metro-level highlights: Four weeks ending Aug. 2, 2026 Redfin's metro-level 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	Newark, NJ (9.8%) West Palm Beach, FL (9.5%) Baltimore (7.6%) St. Louis (6.8%) Cleveland (6.5%)	San Jose, CA (-4.2%) Seattle (-1.8%) Dallas (-1.6%) Los Angeles (-0.8%) Indianapolis (-0.4%) Portland, OR (-0.4%) Las Vegas (-0.3%)	Declined in 7 metros
Pending sales	West Palm Beach, FL (13%) Cincinnati (7.1%) Pittsburgh (6.7%) St. Louis (3.9%) Chicago (3.4%)	Seattle (-19.8%) Houston (-17.1%) Phoenix (-15%) Denver (-10.9%) Atlanta (-9.8%)
New listings	St. Louis (13%) San Jose, CA (11.7%) Montgomery County, PA (9.7%) Boston (9.4%) Chicago (8.1%)	Dallas (-12.6%) Atlanta (-10.9%) Fort Worth, TX (-10.8%) Miami (-10.1%) San Antonio (-9.8%)

To view the full report, including charts, please visit:

https://www.redfin.com/news/housing-market-update-homebuying-demand-stalls-summer

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