U.S. home prices are increasing and mortgage rates ticked up last week after dipping to their lowest level in a year. Rising costs and widespread financial uncertainty are causing house hunters to retreat.
We’re taking a break from analysis this week, but please see the tables and charts below for this week’s housing-market data. We’ll be back with full commentary in next week’s report. Happy Thanksgiving!
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 | 6.2% (Nov. 25) | Up slightly from 6.13% two weeks earlier | Down from 7.02% | Mortgage News Daily |
| Weekly average 30-year fixed mortgage rate | 6.23% (week ending Nov. 26) | Near lowest level in a year | Down from 6.84% | Freddie Mac |
| Mortgage-purchase applications (seasonally adjusted) | Up 8% from a week earlier (as of week ending Nov. 21) | Up 20% | Mortgage Bankers Association | |
| Redfin Homebuyer Demand Index (seasonally adjusted) | Lowest level in 2 months (as of week ending Nov. 23) | Down 11% | A measure of tours and other homebuying services from Redfin agents | |
| Google searches of “homes for sale” | Highest level since August (as of Nov. 23) | Up more than 20% | Google Trends | |
| Touring activity | Up 3% from the start of the year (as of Nov. 21) | At this time last year, it was down 5% from the start of 2024 | ShowingTime | |
Key housing-market data
| U.S. highlights: Four weeks ending Nov. 23, 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 Nov. 23, 2025 | Year-over-year change | Notes | |
| Median sale price | $393,248 | 2.4% | Biggest increase in nearly 8 months |
| Median asking price | $386,973 | 2.5% | |
| Median monthly mortgage payment | $2,466 at a 6.23% mortgage rate | -2.1% | Lowest level of the year |
| Pending sales | 73,223 | -2.1% | Biggest decline in 8 months |
| New listings | 75,794 | 2% | |
| Active listings | 1,170,087 | 5.7% | Smallest increase since Feb. 2024 |
| Months of supply | 4.4 | +0.4 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 | 27.5% | Down from 28% | |
| Median days on market | 49 | +5 days | |
| Share of homes sold above list price | 22.4% | Down from 25% | |
| Average sale-to-list price ratio | 98.2% | Down from 98.6% | |
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Metro-level highlights: Four weeks ending Nov. 23, 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 | Cincinnati (9.2%)
Cleveland (8.7%) Detroit (7.6%) Nassau County, NY (6.9%) Pittsburgh (6.5%) |
Oakland, CA (-4.8%)
Jacksonville, FL (-4.5%) Fort Worth, TX (-4.1%) Dallas (-3.1%) San Francisco (-3.1%) |
Declined in 16 metros |
| Pending sales | West Palm Beach, FL (17.3%)
Miami (14%) Phoenix (8.1%) Cleveland (7.2%) Sacramento, CA (5.6%) |
San Jose, CA (-21.2%)
Seattle (-17.2%) Tampa, FL (-15.4%) Houston (-14.2%) San Diego (-10.9%) |
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| New listings | Minneapolis (14.2%)
Cincinnati (11.7%) Boston (9%) Virginia Beach, VA (8.6%) Detroit (8.1%) |
Tampa, FL (-17.2%)
Riverside, CA (-11.6%) San Antonio (-10.8%) Fort Lauderdale, FL (-9.7%) Jacksonville, FL (-8.7%) |
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Refer to our metrics definition page for explanations of all the metrics used in this report.
