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Homebuying costs hit highest level in over a year, Redfin says

In the four weeks ending Sept. 6, 2026, the typical monthly mortgage payment was $2,641 with a 6.71% mortgage rate, while 21% of sellers cut their asking prices.

Reported · Written up by our desk · Residential

Housing costs have risen to their highest level in more than a year, leaving fewer would-be buyers active and giving an edge to households that are already positioned to move, according to Redfin.

For the four weeks ending Sept. 6, 2026, the typical U.S. homebuyer faced a $2,641 median monthly mortgage payment, based on a 6.71% mortgage rate. Redfin said the median asking price (seasonally adjusted) was $398,584, and the median sale price was $398,637.

Redfin reported demand softness alongside price pressure, with pending sales at 309,160, down 2.1% year over year, and new listings at 364,576, up 2.1% year over year but down 4.8% week over week. The share of home listings with price drops increased to 20.8%, up from 19.8% the prior period.

On the supply side, Redfin said active listings were 1,506,212 and months of supply moved up to 3.9, compared with 3.8. Redfin also noted median days on market rose to 46 days and that 25.5% of homes sold above list price, with the average sale-to-list price ratio at 98.7%.

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