The U.S. housing market is still expensive, even as some buyers return to the search. Redfin reported that the median U.S. home sale price reached $408,838 during the four weeks ending June 28, 2026. That was up 2.5% from a year earlier and marked a record high.
Monthly payments are also moving in the wrong direction for affordability. Redfin estimated the median monthly mortgage payment at $2,633, based on a 6.49% mortgage rate. That was up 1.4% year over year, the first annual increase in housing payments since October.
| Metric | Four Weeks Ending June 28, 2026 |
Year-over-Year Change |
|---|---|---|
| Median sale price | $408,838 | 2.5% |
| Median asking price (seasonally adjusted) | $404,414 | 3.7% |
| Median monthly mortgage payment (seasonally adjusted) | $2,633 at a 6.49% mortgage rate | 1.4% |
| Pending sales (seasonally adjusted) | 324,251 | 2% |
| New listings (seasonally adjusted) | 358,736 | 1.7% |
| Active listings (seasonally adjusted) | 1,476,146 | -0.1% |
| Months of supply | 3.5 | -0.2 pts. |
| Share of homes off market in two weeks | 35.8% | Essentially unchanged |
| Median days on market | 39 | +1 day |
| Share of home listings with price drops | 20.2% | Down from about 21% |
| Share of homes sold above list price | 28.8% | Essentially unchanged |
| Average sale-to-list price ratio | 99.1% | Essentially unchanged |
cf. Data reflects the four weeks ending June 28, 2026. Figures are based on Redfin’s housing market update.
For buyers, this creates a difficult combination: home prices are high, mortgage rates remain elevated, and the monthly payment is rising again. Even if the headline rate moves only slightly, the payment impact can feel much bigger when the home price is already near a record high.
Still, demand has not disappeared. Redfin reported that pending home sales rose 0.4% week over week, mortgage-purchase applications were up 1% from the previous week, and Google searches for “homes for sale” were up about 8% from a month earlier.
| Indicator | Value (if applicable) |
Recent Change | Year-over-Year Change | Source |
|---|---|---|---|---|
| Daily average 30-year fixed mortgage rate | 6.54% (June 30) |
Down from 6.65% one week earlier | Down from 6.86% | Mortgage News Daily |
| Weekly average 30-year fixed mortgage rate | 6.49% (week ending June 25) |
Up slightly from 6.47% one week earlier | Down from 6.77% | Freddie Mac |
| Mortgage-purchase applications | N/A | Up 1% from a week earlier (week ending June 26) |
Up 3% | Mortgage Bankers Association |
| Google searches of “homes for sale” | N/A | Up about 8% from a month earlier (as of June 29) |
Up 8% | Google Trends |
| Touring activity | N/A | Up 18% from the start of the year (as of June 29) |
At this time last year, it was up 32% from the start of 2025 | ShowingTime |
cf. Indicators summarize recent U.S. homebuying demand and mortgage-market activity as of late June 2026.
That suggests buyers are not fully leaving the market. Many are still searching, comparing, and waiting for the right home or the right payment. The market may not be easy, but interest is still there.
| Metric | Metros with Biggest Year-over-Year Increases |
Metros with Biggest Year-over-Year Decreases |
|---|---|---|
| Median sale price Declined in 8 metros |
San Francisco (10.8%) West Palm Beach, FL (10.6%) Pittsburgh (9.1%) Philadelphia (8.7%) Detroit (8.2%) |
Seattle (-5.3%) San Jose, CA (-4%) Riverside, CA (-1.8%) Portland, OR (-1%) Dallas (-0.6%) |
| Pending sales |
San Francisco (17%) Austin, TX (14.2%) West Palm Beach, FL (10.9%) Milwaukee (10.8%) Cincinnati (9.5%) |
Seattle (-14.7%) Houston (-14%) Detroit (-11.3%) Warren, MI (-8.6%) Atlanta (-5.3%) |
| New listings |
Philadelphia (15.7%) Anaheim, CA (15.2%) St. Louis (12.4%) Pittsburgh (11.9%) Boston (11.4%) |
Dallas (-11.8%) Fort Worth, TX (-8.2%) Jacksonville, FL (-7.3%) Atlanta (-5%) San Jose, CA (-4.2%) |
cf. 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.
For today’s buyer, the key is to stop looking at price alone. A home’s list price is only one part of affordability. Mortgage rate, property taxes, insurance, HOA dues, down payment size, and closing costs all shape the final monthly number.
