Upgrade to SI Premium - Free Trial

Redfin Reports Homebuyers Have More Fresh Options Than They've Had in 4 Years

September 3, 2026 8:00 AM

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.

Redfin, a leading digital real estate brokerage, is now part of Rocket Companies

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
change

Source

Daily average 30-year fixed
mortgage rate

6.91% (Sept. 2)

Highest level in over a
year

Up from 6.5%

Mortgage News Daily

Weekly average 30-year
fixed mortgage rate

6.66% (week ending
Aug. 27)

Essentially unchanged
from a week earlier

Up from 6.56%

Freddie Mac

Mortgage-purchase
applications (seasonally
adjusted)


Up 2% from a week
earlier (as of week
ending Aug. 28)

Essentially unchanged
(down 0.2%)

Mortgage Bankers
Association

Google searches of "homes
for sale"


Down 13% from a
month earlier (as of
Aug. 29)

Down 6%

Google Trends

Touring activity


Up 7% from the start
of the year (as of Aug.
28)

At this time last year,
it was up 22% from
the start of 2025

ShowingTime

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
Aug. 30, 2026

Year-over-year
change

Week-over-week
change (where
applicable)

Notes

Median sale price

$398,632

2.2 %



Median asking price
(seasonally adjusted)

$392,828

-0.1 %



Median monthly mortgage
payment (seasonally
adjusted)

$2,592 at a 6.66% mortgage rate

0.7 %



Pending sales (seasonally
adjusted)

308,282

-2.5 %

-0.1 %

Lowest level since
February

New listings (seasonally
adjusted)

383,795

8 %

2.1 %

Highest level since
August 2022

Active listings (seasonally
adjusted)

1,511,313

2.4 %

0.4 %


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
in two weeks

30.4 %

Essentially unchanged



Median days on market

45

Unchanged



Share of home listings with
price drops

20.9 %

Up from 20.2%



Share of homes sold above
list price

25.9 %

Up from 25%



Average sale-to-list price
ratio

98.7 %

Up from 98.5%



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-
year increases

Metros with biggest year-
over-year decreases

Notes

Median sale price

San Francisco (9%)
West Palm Beach, FL (8.1%)
Cincinnati (7.8%)
Milwaukee (7.4%)
Pittsburgh (7.4%)

Austin, TX (-7.1%)
Seattle (-6.2%)
Fort Worth, TX (-1.9%)
San Jose, CA (-1.7%)
Orlando, FL (-1.4%)


Pending sales

Milwaukee (8.8%)
Virginia Beach, VA (3.4%)
Cincinnati (3.2%)
Chicago (2.9%)
Montgomery County, PA (2.8%)

Seattle (-15.1%)
San Diego (-14.2%)
Denver (-13.5%)
Houston (-13%)
Nassau County, NY (-10.2%)


New listings

San Jose, CA (29.4%)
Boston (26.1%)
Nashville, TN (21.5%)
Seattle (16.9%)
Philadelphia (14%)

Dallas (-11.2%)
Atlanta (-8.8%)
Fort Worth, TX (-7%)
San Antonio (-6%)
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.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/redfin-reports-homebuyers-have-more-fresh-options-than-theyve-had-in-4-years-302868467.html

SOURCE Redfin

Categories

PRNewswire Press Releases