U.S. Median Home Prices Decline for First Time in Three Years

The U.S. housing market has reached a turning point as median home-sale prices fell to $389,601, marking the first year-over-year decline in more than three years. According to data from Redfin for the four weeks ending October 25, 2026, the market is experiencing a significant slowdown in demand, with pending home sales hitting their lowest levels since 2021. High borrowing costs continue to weigh heavily on affordability. The median monthly mortgage payment rose 10.7% year-over-year to $2,786, driven by mortgage rates hovering near a three-year high of 7.32%. While new listings have decreased, the rapid drop in pending sales has led to a slight increase in total inventory, granting buyers more negotiating power than seen in over a decade.

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