{"id":81267,"date":"2025-07-03T09:55:31","date_gmt":"2025-07-03T16:55:31","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=81267"},"modified":"2025-07-03T09:55:31","modified_gmt":"2025-07-03T16:55:31","slug":"housing-market-update-new-listings-post-first-decline-six-months","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/housing-market-update-new-listings-post-first-decline-six-months\/","title":{"rendered":"New Listings, Pending Sales Fall As Home Prices Hit Another All-Time High"},"content":{"rendered":"

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\u2019s worth noting that the weekly average mortgage rate fell to 6.67%, its lowest level since early April.\u00a0<\/span><\/i><\/p>\n

We\u2019re taking a break from analysis this week, but please see the tables and charts below for this week\u2019s housing-market data. Happy 4th of July weekend!<\/span><\/p>\n

For Redfin economists\u2019 takes on the housing market, please visit Redfin\u2019s \u201c<\/span><\/i>From Our Economists<\/span><\/i><\/a>\u201d page.<\/span><\/i>\u00a0<\/span><\/p>\n

Leading indicators<\/h3>\n

 <\/p>\n\n\n\n\n\n\n\n\n\n\n
Indicators of homebuying demand and activity<\/b><\/td>\n<\/tr>\n
<\/td>\nValue (if applicable)<\/b><\/td>\nRecent change<\/b><\/td>\nYear-over-year change<\/b><\/td>\nSource<\/b><\/td>\n<\/tr>\n
Daily average 30-year fixed mortgage rate<\/b><\/td>\n6.75% (July 3)<\/span><\/td>\nNear lowest level since early April<\/span><\/td>\nDown from 7.07%<\/span><\/td>\nMortgage News Daily\u00a0<\/span><\/a><\/td>\n<\/tr>\n
Weekly average 30-year fixed mortgage rate<\/b><\/td>\n6.67% (week ending July 3)<\/span><\/td>\nLowest level since early April<\/span><\/td>\nDown from 6.86%<\/span><\/td>\nFreddie Mac<\/span><\/a><\/td>\n<\/tr>\n
Mortgage-purchase applications (seasonally adjusted)<\/b><\/td>\n<\/td>\nEssentially flat (+0.1%%) from a week earlier (as of week ending June 27)<\/span><\/td>\nUp 16%<\/span><\/td>\nMortgage Bankers Association<\/span><\/a>\u00a0<\/span><\/td>\n<\/tr>\n
Touring activity<\/b><\/td>\n<\/td>\nUp 32% from the start of the year (as of July 2)<\/span><\/td>\nAt this time last year, it was up 21% from the start of 2024<\/span><\/td>\nShowingTime<\/span><\/a>, a home touring technology company<\/span><\/td>\n<\/tr>\n
Google searches for \u201chome for sale\u201d<\/b><\/td>\n<\/td>\nHighest level in a year (as of July 2)<\/span><\/td>\nEssentially flat<\/span><\/td>\nGoogle Trends\u00a0<\/span><\/a><\/td>\n<\/tr>\n
We excluded the Redfin Homebuyer Demand Index this week to ensure data accuracy.<\/span><\/i><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

Key housing-market data<\/h3>\n

 <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
U.S. highlights: Four weeks ending June 29, 2025<\/b><\/p>\n

Redfin\u2019s 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.\u00a0<\/span><\/i><\/td>\n<\/tr>\n

<\/td>\nFour weeks ending June 29, 2025<\/b><\/td>\nYear-over-year change<\/b><\/td>\nNotes<\/b><\/td>\n<\/tr>\n
Median sale price<\/b><\/td>\n$400,125<\/span><\/td>\n1.4%<\/span><\/td>\nAll-time high<\/span><\/td>\n<\/tr>\n
Median asking price<\/b><\/td>\n$415,174<\/span><\/td>\n3.9%<\/span><\/td>\n<\/td>\n<\/tr>\n
Median monthly mortgage payment<\/b><\/td>\n$2,742 at a 6.67% mortgage rate<\/span><\/td>\n1.6%<\/span><\/td>\nLowest level in 4 months<\/span><\/td>\n<\/tr>\n
Pending sales<\/b><\/td>\n86,718<\/span><\/td>\n-3.2%<\/span><\/td>\nBiggest decline in nearly 4 months<\/span><\/td>\n<\/tr>\n
New listings<\/b><\/td>\n99,921<\/span><\/td>\n-0.7%<\/span><\/td>\nFirst decline in nearly 6 months<\/span><\/td>\n<\/tr>\n
Active listings<\/b><\/td>\n1,184,250<\/span><\/td>\n14.1%<\/span><\/td>\nSmallest increase in over a year<\/span><\/td>\n<\/tr>\n
Months of supply\u00a0<\/b><\/td>\n4.1<\/span><\/td>\n+0.8 pts.\u00a0<\/span><\/td>\n4 to 5 <\/span>months of supply<\/span><\/a> is considered balanced, with a lower number indicating seller\u2019s market conditions\u00a0<\/span><\/td>\n<\/tr>\n
Share of homes off market in two weeks\u00a0<\/b><\/td>\n36.3%<\/span><\/td>\nDown from 40%<\/span><\/td>\n<\/td>\n<\/tr>\n
Median days on market<\/b><\/td>\n37<\/span><\/td>\n+5 days<\/span><\/td>\n<\/td>\n<\/tr>\n
Share of homes sold above list price<\/b><\/td>\n28.4%<\/span><\/td>\nDown from 32%<\/span><\/td>\n<\/td>\n<\/tr>\n
Average sale-to-list price ratio\u00a0<\/b><\/td>\n99.1%<\/span><\/td>\nDown from 99.6%<\/span><\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n
\n

Metro-level highlights: Four weeks ending June 29, 2025<\/b><\/p>\n

Redfin\u2019s metro-level data includes the 50 most populous U.S. metros. Select metros may be excluded from time to time to ensure data accuracy.\u00a0<\/span><\/i><\/p>\n<\/th>\n<\/tr>\n

<\/th>\nMetros with biggest year-over-year increases<\/b><\/th>\nMetros with biggest year-over-year decreases<\/b><\/th>\n\n

Notes<\/b><\/p>\n<\/th>\n<\/tr>\n

Median sale price<\/b><\/th>\nDetroit (10.1%)<\/span><\/p>\n

Newark, NJ (9.4%)<\/span><\/p>\n

Cleveland (7.3%)<\/span><\/p>\n

Nassau County, NY(6.3%)<\/span><\/p>\n

New York (6%)<\/span><\/th>\n

Oakland, CA (-3.7%)<\/span><\/p>\n

San Diego (-3.4%)<\/span><\/p>\n

West Palm Beach, FL (-3.4%)<\/span><\/p>\n

Atlanta (-3.2%)<\/span><\/p>\n

Tampa, FL (-2.7%)<\/span><\/th>\n

\n

Declined in 11 metros<\/span><\/p>\n<\/th>\n<\/tr>\n<\/thead>\n

Pending sales<\/b><\/td>\nVirginia Beach, VA (7.4%)<\/span><\/p>\n

Dallas (3.6%)<\/span><\/p>\n

Columbus, OH (2.4%)<\/span><\/p>\n

Pittsburgh (2.2%)<\/span><\/p>\n

Warren, MI (1.9%)<\/span><\/td>\n

San Jose, CA (-16.6%)<\/span><\/p>\n

Las Vegas (-16.6%)<\/span><\/p>\n

Miami (-14.8%)<\/span><\/p>\n

Orlando, FL (-14.6%)<\/span><\/p>\n

Tampa, FL (-13.4%)<\/span><\/td>\n

Declined in all but 10 metros<\/span><\/td>\n<\/tr>\n
New listings<\/b><\/td>\nWarren, MI (9.5%)<\/span><\/p>\n

Cleveland (7.4%)<\/span><\/p>\n

Montgomery County, PA (6%)<\/span><\/p>\n

Milwaukee (5%)<\/span><\/p>\n

Boston (5%)<\/span><\/td>\n

Tampa, FL (-17.6%)<\/span><\/p>\n

Orlando, FL (-15.8%)<\/span><\/p>\n

Anaheim, CA (-14.3%)<\/span><\/p>\n

San Diego (-12.1%)<\/span><\/p>\n

Riverside, CA (-12%)<\/span><\/td>\n

<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Refer to our <\/span>metrics definition page<\/span><\/a> for explanations of all the metrics used in this report.<\/span><\/p>\n

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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\u2019s worth noting that the weekly average mortgage rate fell to 6.67%, its lowest level since early April.\u00a0 We\u2019re taking a break from analysis this […]<\/p>\n","protected":false},"author":13153,"featured_media":81278,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[8,615],"tags":[623,655,654],"coauthors":[124],"class_list":["post-81267","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-housing-market-news","category-weekly-market-update","tag-national","tag-weekly-market-tracker","tag-weekly-market-update"],"acf":[],"yoast_head":"\nNew Listings, Pending Sales Fall As Home Prices Hit Another All-Time High<\/title>\n<meta name=\"description\" content=\"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. 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