Redfin’s four-week snapshot through Sept. 6, 2026: mortgage costs are at a 14-month high, sales activity has slowed, inventory is modestly higher year over year, and sellers who want offers need realistic pricing.
Typical monthly mortgage payment rose to $2,641 (14-month high) as the weekly average 30-year rate hit 6.71%, reducing buyer participation.
Pending sales fell 2.1% year over year and remain near their lowest level since February, while active listings are up 2.1%, shifting leverage to buyers in many markets.
Despite weakness broadly, one-quarter of homes still sold above list price—well-priced homes in desirable neighborhoods continue to draw competition.
# Snapshot Redfin's data for the four weeks ending September 6, 2026 shows rising borrowing costs and slightly higher home prices are squeezing some buyers out of the market. The typical U.S. buyer's monthly mortgage payment reached $2,641, the highest in 14 months. That number reflects a modest year-over-year price gain and a weekly average 30-year fixed mortgage rate of 6.71%.
# What happened to demand and supply
Supply is modestly higher than a year ago. New listings rose 2.1% year over year and active listings are up 2.1%, though new listings fell for the week largely because of Labor Day timing. Months of supply stands at 3.9—near what many market watchers call the boundary between a seller's and a balanced market.
# How pricing and market behavior changed
# Regional split
# What this means for buyers and sellers Buyers: Higher monthly payments have pushed some would-be buyers to the sidelines. Those who remain typically have more negotiating power, given higher inventory and slower demand overall. However, buyers should expect competition for well-priced homes in desirable neighborhoods.
Sellers: Listing strategy matters more. Overpricing drives hesitation and often leads to price reductions. Sellers who want to sell in this environment should set price expectations aligned with recent comps and be prepared for longer marketing windows than in peak markets.
# Practical next steps
# Bottom line Higher mortgage rates and rising monthly carrying costs have reduced the pool of active buyers, giving negotiating leverage to those who remain. Markets are uneven: some metros are still competitive, but many sellers will need realistic pricing to close a sale.
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“If we were to quantify all these concessions…we would see that home prices are down, and people are getting better deals,” Redfin Chief Economist Daryl Fairweather said.
New Redfin data reveals a diverging market — buyer power is rising while annual price growth picks up speed
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