New Listings, Pending Sales Fall As Home Prices Hit Another All-Time High
New listings fell 1% year over year during the four weeks ending June 29, the first decline in nearly six months, with would-be sellers taking notice of slow demand. But it’s worth noting that the weekly average mortgage rate fell to 6.67%, its lowest level since early April.
We’re taking a break from analysis this week, but please see the tables and charts below for this week’s housing-market data. Happy 4th of July weekend!
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 | 6.75% (July 3) | Near lowest level since early April | Down from 7.07% | Mortgage News Daily |
| Weekly average 30-year fixed mortgage rate | 6.67% (week ending July 3) | Lowest level since early April | Down from 6.86% | Freddie Mac |
| Mortgage-purchase applications (seasonally adjusted) | Essentially flat (+0.1%%) from a week earlier (as of week ending June 27) | Up 16% | Mortgage Bankers Association | |
| Touring activity | Up 32% from the start of the year (as of July 2) | At this time last year, it was up 21% from the start of 2024 | ShowingTime, a home touring technology company | |
| Google searches for “home for sale” | Highest level in a year (as of July 2) | Essentially flat | Google Trends | |
| We excluded the Redfin Homebuyer Demand Index this week to ensure data accuracy. | ||||
Key housing-market data
| U.S. highlights: Four weeks ending June 29, 2025
Redfin’s national metrics include data from 400+ U.S. metro areas, and are based on homes listed and/or sold during the period. Weekly housing-market data goes back through 2015. Subject to revision. |
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| Four weeks ending June 29, 2025 | Year-over-year change | Notes | |
| Median sale price | $400,125 | 1.4% | All-time high |
| Median asking price | $415,174 | 3.9% | |
| Median monthly mortgage payment | $2,742 at a 6.67% mortgage rate | 1.6% | Lowest level in 4 months |
| Pending sales | 86,718 | -3.2% | Biggest decline in nearly 4 months |
| New listings | 99,921 | -0.7% | First decline in nearly 6 months |
| Active listings | 1,184,250 | 14.1% | Smallest increase in over a year |
| Months of supply | 4.1 | +0.8 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 | 36.3% | Down from 40% | |
| Median days on market | 37 | +5 days | |
| Share of homes sold above list price | 28.4% | Down from 32% | |
| Average sale-to-list price ratio | 99.1% | Down from 99.6% | |
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Metro-level highlights: Four weeks ending June 29, 2025 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. |
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|---|---|---|---|
| Metros with biggest year-over-year increases | Metros with biggest year-over-year decreases |
Notes |
|
| Median sale price | Detroit (10.1%)
Newark, NJ (9.4%) Cleveland (7.3%) Nassau County, NY(6.3%) New York (6%) |
Oakland, CA (-3.7%)
San Diego (-3.4%) West Palm Beach, FL (-3.4%) Atlanta (-3.2%) Tampa, FL (-2.7%) |
Declined in 11 metros |
| Pending sales | Virginia Beach, VA (7.4%)
Dallas (3.6%) Columbus, OH (2.4%) Pittsburgh (2.2%) Warren, MI (1.9%) |
San Jose, CA (-16.6%)
Las Vegas (-16.6%) Miami (-14.8%) Orlando, FL (-14.6%) Tampa, FL (-13.4%) |
Declined in all but 10 metros |
| New listings | Warren, MI (9.5%)
Cleveland (7.4%) Montgomery County, PA (6%) Milwaukee (5%) Boston (5%) |
Tampa, FL (-17.6%)
Orlando, FL (-15.8%) Anaheim, CA (-14.3%) San Diego (-12.1%) Riverside, CA (-12%) |
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Refer to our metrics definition page for explanations of all the metrics used in this report.
The post New Listings, Pending Sales Fall As Home Prices Hit Another All-Time High appeared first on Redfin Real Estate News.
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