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High Costs Sideline Some Would-Be Homebuyers, Handing Upper Hand to Those Who Stay in the Market

prnewswire.com
RKT The article mentions Rocket Companies Inc. (RKT) in the context of the housing market. While high costs are sidelining some homebuyers, those who remain in the market are gaining an upper hand. The article does not provide specific sentiment towards RKT's business performance or stock.

High Costs Sideline Some Would-Be Homebuyers, Handing Upper Hand to Those Who Stay in the Market Redfin agents say pricing realistically from the start is the key to finding a buyer; 21% of home sellers are dropping their price

SEATTLE, Sept. 10, 2026 /PRNewswire/ -- Homebuying costs have hit their highest level in over a year, according to a new report from Redfin, the real estate brokerage powered by Rocket.

Here's what else is happening in the housing market for the four weeks ending Sept. 6:

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

6.97% (Sept. 9)

Highest level in over a

year

Up from 6.29%

Mortgage News Daily

Weekly average 30-year

fixed mortgage rate

6.71% (week ending

Sept. 3)

Up slightly from one

week earlier

Up from 6.5%

Freddie Mac

Mortgage-purchase

applications (seasonally adjusted)

Down 0.2% from a

week earlier (as of

week ending Sept. 4)

Up 4%

Mortgage Bankers

Association

Google searches of "homes for sale"

Down 18% from a

month earlier (as of

Sept. 5)

Down 15%

Google Trends

Touring activity

Down 0.6% from the

start of the year (as of

Sept. 6)

At this time last year,

it was up 21% from

the start of 2025

ShowingTime

Key housing-market data

U.S. highlights: Four weeks ending Sept. 6, 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 Sept. 6, 2026

Year-over-year change

Week-over-week

change (where applicable)

Notes

Median sale price

$398,637

2.2 %

Median asking price

(seasonally adjusted)

$398,584

1.1 %

Median monthly mortgage

payment (seasonally

adjusted)

$2,641 at a 6.71% mortgage rate

2.8 %

Highest level since

June 2025

Pending sales (seasonally

adjusted)

309,160

-2.1 %

0.1 %

New listings (seasonally

adjusted)

364,576

2.1 %

-4.8 %

Much of the weekly

drop is due to the

timing of Labor Day

weekend

Active listings (seasonally

adjusted)

1,506,212

2.1 %

-0.2 %

Months of supply

3.9

Up from 3.8

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

30.1 %

Essentially unchanged

Median days on market

46

+1 day

Share of home listings with

price drops

20.8 %

Up from 19.8%

Share of homes sold above

list price

25.5 %

Up from 24.9%

Average sale-to-list price

ratio

98.7 %

Up from 98.6%

Metro-level highlights: Four weeks ending Sept. 6, 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

Milwaukee (8.7%)

San Francisco (8.5%)

Cincinnati (8%)

Detroit (7.5%)

St. Louis (7%)

Seattle (-4.5%)

Austin, TX (-4.5%)

Fort Worth, TX (-3%)

San Antonio (-2.3%)

Oakland, CA (-2.1%)

Pending sales

Milwaukee (10.9%)

Warren, MI (8.2%)

Boston (7.8%)

San Francisco (6.5%)

West Palm Beach, FL (5.9%)

Seattle (-15.6%)

Denver (-11.8%)

Houston (-11.4%)

Atlanta (-11.3%)

San Diego (-10.4%)

New listings

Nashville, TN (18.5%)

San Jose, CA (10%)

Tampa, FL (9.7%)

Anaheim, CA (9.3%)

Orlando, FL (8.9%)

New York (-14.4%)

San Francisco (-14%)

Atlanta (-11.4%)

Dallas (-8.7%)

Charlotte, NC (-5.2%)

To view the full report, including charts, please visit: https://www.redfin.com/news/housing-market-update-high-costs-sideline-buyers-negotiating-power

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.

SOURCE Redfin