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Redfin Reports Monthly Payments Tick Up For First Time in 8 Months As Home Prices Hit Record High

Pending home sales increased 0.4% week over week

SEATTLE--(BUSINESS WIRE)--Jul. 2, 2026-- The median U.S. housing payment posted its first year-over-year increase since October during the four weeks ending June 28 as home prices and mortgage rates rose. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket. Redfin’s analysis is condensed this week due to the July 4th holiday.

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

6.54% (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 (seasonally adjusted)

 

Up 1% from a week earlier (as of week ending June 26)

Up 3%

Mortgage Bankers Association

Google searches of “homes for sale”

 

Up about 8% from a month earlier (as of June 29)

Up 8%

Google Trends

Touring activity

 

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

Key housing-market data

U.S. highlights: Four weeks ending June 28, 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 June 28, 2026

Year-over-year change

Week-over-week change (where applicable)

Notes

Median sale price

$408,838

2.5%

 

Record high

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%

0.4%

 

New listings (seasonally adjusted)

358,736

1.7%

1.1%

 

Active listings (seasonally adjusted)

1,476,146

-0.1%

-0.1%

 

Months of supply

3.5

-0.2 pts.

 

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

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

 

 

Metro-level highlights: Four weeks ending June 28, 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

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%)

 

Declined in 8 metros

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%)

 

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

https://www.redfin.com/news/housing-market-update-payments-rise-prices-record-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.

Contact Redfin Journalist Services:
Tana Kelley
press@redfin.com

Source: Redfin