{"id":82991,"date":"2025-11-20T05:00:05","date_gmt":"2025-11-20T13:00:05","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=82991"},"modified":"2025-11-19T12:49:53","modified_gmt":"2025-11-19T20:49:53","slug":"housing-market-update-home-prices-grow-slow-demand","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/housing-market-update-home-prices-grow-slow-demand\/","title":{"rendered":"Home Prices Post Biggest Gain in 7 Months Despite Slow Demand"},"content":{"rendered":"

Would-be homebuyers are sitting on the sidelines, wary of economic uncertainty and still-high housing costs. A dwindling pool of supply is propping up prices.\u00a0<\/span><\/i><\/p>\n

The median U.S. home-sale price rose 2.3% during the four weeks ending November 16, the biggest increase in seven months. Sale prices are rising despite slow homebuying demand because total inventory is dwindling. Still, it\u2019s important to note that home prices are growing slower than wages and inflation, meaning homebuying is becoming slightly more affordable.\u00a0<\/span><\/p>\n

Pending home sales fell 0.8% year over year, a modest decline but the biggest in four months. Many would-be buyers are staying on the sidelines due to <\/span>economic instability<\/span><\/a> and high housing costs; in addition to still-rising home prices, mortgage rates are <\/span>ticking up<\/span><\/a> after dropping to their lowest level in a year. Homes are also taking longer to sell; the typical home that goes under contract does so in 49 days, the longest span for this time of year since 2019.\u00a0<\/span><\/p>\n

At the same time, total supply is losing steam. Active listings rose 6.1% year over year, the smallest increase since February 2024. The shrinking pool of homes is propping up prices.\u00a0\u00a0<\/span><\/p>\n

Sale Prices Dropped in 18 of the 50 Most Populous U.S. Metros<\/b><\/p>\n

Sale prices aren\u2019t rising everywhere, though. The median home-sale price <\/span>declined <\/span><\/i>in 18 of the 50 most populous U.S. metros, the most in over two years (tied with the 4 weeks ending November 2).\u00a0<\/span><\/p>\n

Prices fell most in Fort Worth, TX (-3.9% year over year), Dallas (-3.3%) and Jacksonville, FL (-3.3%). The next-biggest drops were in Miami (-2.5%) and Seattle (-2.2%).\u00a0<\/span><\/p>\n

\u00a0\u201cBuyers may be able to find a deal,\u201d said <\/span>Jonathan Buch<\/span><\/a>, a Redfin Premier agent in <\/span>West Palm Beach, FL<\/span><\/a>. \u201cIn today\u2019s slow market, the people who are selling are typically the ones who have to because of a divorce or job relocation. Many of those people are willing to sell at a lower price than they could get if they waited for demand to pick\u00a0 up. Still, homes that are fairly priced and move-in ready\u2013especially the ones with pools\u2013are selling quickly, with bidding wars.\u201d<\/span><\/p>\n

Sale prices rose <\/span>most <\/span><\/i>in the Rust Belt and Midwest, with prices increasing most in Cincinnati (10.5%), Pittsburgh (9.5%), Detroit (8.4%),\u00a0 Milwaukee (8.3%) and Cleveland (8%).\u00a0<\/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>\n6.36% (Nov. 19)<\/span><\/td>\nUp from 6.13% two weeks earlier<\/span><\/td>\nDown from 7.02%<\/span><\/td>\nMortgage News Daily\u00a0<\/span><\/a><\/td>\n<\/tr>\n
Weekly average 30-year fixed mortgage rate<\/b><\/td>\n6.24% (week ending Nov. 13)<\/span><\/td>\nUp slightly from the week before, but near lowest level in a year<\/span><\/td>\nDown from 6.79%<\/span><\/td>\nFreddie Mac<\/span><\/a><\/td>\n<\/tr>\n
Mortgage-purchase applications (seasonally adjusted)<\/b><\/td>\n<\/td>\nDown 2% from a week earlier (as of week ending Nov. 14)<\/span><\/td>\nUp 26%<\/span><\/td>\nMortgage Bankers Association<\/span><\/a>\u00a0<\/span><\/td>\n<\/tr>\n
Redfin Homebuyer Demand Index (seasonally adjusted)<\/b><\/td>\n<\/td>\nNear highest level since August (as of week ending Nov. 16)<\/span><\/td>\nDown 12%<\/span><\/td>\nA measure of tours and other homebuying services from Redfin agents<\/span><\/td>\n<\/tr>\n
Google searches of \u201chomes for sale\u201d<\/b><\/td>\n<\/td>\nUnchanged from a month earlier (as of Nov. 16)<\/span><\/td>\nUp 12%<\/span><\/td>\nGoogle Trends<\/span><\/a><\/td>\n<\/tr>\n
Touring activity<\/b><\/td>\n<\/td>\nUp 7% from the start of the year (as of Nov. 16)<\/span><\/td>\nAt this time last year, it was down 3% from the start of 2024<\/span><\/td>\nShowingTime<\/span><\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\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 Nov. 16, 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 Nov. 16, 2025<\/b><\/td>\nYear-over-year change<\/b><\/td>\nNotes<\/b><\/td>\n<\/tr>\n
Median sale price<\/b><\/td>\n$393,411<\/span><\/td>\n2.3%<\/span><\/td>\nBiggest increase in 7 months<\/span><\/td>\n<\/tr>\n
Median asking price<\/b><\/td>\n$389,748<\/span><\/td>\n2.4%<\/span><\/td>\n<\/td>\n<\/tr>\n
Median monthly mortgage payment<\/b><\/td>\n$2,486 at a 6.24% mortgage rate<\/span><\/td>\n-2.4%<\/span><\/td>\nLowest level since start of the year<\/span><\/td>\n<\/tr>\n
Pending sales<\/b><\/td>\n74,407<\/span><\/td>\n-0.8%<\/span><\/td>\nBiggest decline in 4 months<\/span><\/td>\n<\/tr>\n
New listings<\/b><\/td>\n79,043<\/span><\/td>\n3.4%<\/span><\/td>\n<\/td>\n<\/tr>\n
Active listings<\/b><\/td>\n1,182,671<\/span><\/td>\n6.1%<\/span><\/td>\nSmallest increase since Feb. 2024<\/span><\/td>\n<\/tr>\n
Months of supply\u00a0<\/b><\/td>\n4.6<\/span><\/td>\n+0.5 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>\n28%<\/span><\/td>\nDown from 29%<\/span><\/td>\n<\/td>\n<\/tr>\n
Median days on market<\/b><\/td>\n49<\/span><\/td>\n+6 days<\/span><\/td>\n<\/td>\n<\/tr>\n
Share of homes sold above list price<\/b><\/td>\n22.6%<\/span><\/td>\nDown from 25%<\/span><\/td>\n<\/td>\n<\/tr>\n
Average sale-to-list price ratio\u00a0<\/b><\/td>\n98.2%<\/span><\/td>\nDown from 98.6%<\/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 Nov. 16, 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>\nCincinnati (10.5%)<\/span><\/p>\n

Pittsburgh (9.5%)<\/span><\/p>\n

Detroit (8.4%)<\/span><\/p>\n

Milwaukee (8.3%)<\/span><\/p>\n

Cleveland (8%)<\/span><\/th>\n

Fort Worth, TX (-3.9%)<\/span><\/p>\n

Jacksonville, FL (-3.3%)<\/span><\/p>\n

Dallas (-3.3%)<\/span><\/p>\n

Miami (-2.5%)<\/span><\/p>\n

Seattle (-2.2%)<\/span><\/th>\n

\n

Declined in 18 metros, the most in over 2 years (tied with the 4 weeks ending October 12)<\/span><\/p>\n<\/th>\n<\/tr>\n<\/thead>\n

Pending sales<\/b><\/td>\nWest Palm Beach, FL (21.2%)<\/span><\/p>\n

Cleveland (9.7%)<\/span><\/p>\n

Miami (9.4%)<\/span><\/p>\n

Phoenix (8.6%)<\/span><\/p>\n

Riverside, CA (6.7%)<\/span><\/td>\n

San Jose, CA (-18.2%)<\/span><\/p>\n

Seattle (-17.7%)<\/span><\/p>\n

Tampa, FL (-14.2%)<\/span><\/p>\n

Las Vegas (-12.5%)<\/span><\/p>\n

San Diego (-9.7%)<\/span><\/td>\n

<\/td>\n<\/tr>\n
New listings<\/b><\/td>\nMontgomery County, PA (14.2%)<\/span><\/p>\n

Minneapolis (13.9%)<\/span><\/p>\n

Cincinnati (11.9%)<\/span><\/p>\n

Phoenix (11.4%)<\/span><\/p>\n

Pittsburgh (11.1%)<\/span><\/td>\n

Tampa, FL (-15.6%)<\/span><\/p>\n

Orlando, FL (-9.9%)<\/span><\/p>\n

Fort Lauderdale, FL (-9.2%)<\/span><\/p>\n

Sacramento, CA (-8.6%)<\/span>
\n<\/span>Riverside, CA (-8.4%)<\/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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Would-be homebuyers are sitting on the sidelines, wary of economic uncertainty and still-high housing costs. A dwindling pool of supply is propping up prices.\u00a0 The median U.S. home-sale price rose 2.3% during the four weeks ending November 16, the biggest increase in seven months. Sale prices are rising despite slow homebuying demand because total inventory […]<\/p>\n","protected":false},"author":13153,"featured_media":83005,"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":"","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],"dashboard":[],"coauthors":[124],"class_list":["post-82991","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":"\nHome Prices Post Biggest Gain in 7 Months Despite Slow Demand<\/title>\n<meta name=\"description\" content=\"Would-be homebuyers are sitting on the sidelines, wary of economic uncertainty and still-high housing costs. A dwindling pool of supply is propping up prices.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.redfin.com\/news\/housing-market-update-home-prices-grow-slow-demand\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Home Prices Post Biggest Gain in 7 Months Despite Slow Demand\" \/>\n<meta property=\"og:description\" content=\"Would-be homebuyers are sitting on the sidelines, wary of economic uncertainty and still-high housing costs. 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