New listings are down 1% year over year, the first decline in nearly six months, with would-be sellers taking notice of slow demand. The weekly average mortgage rate also fell to 6.67%, its lowest level since early April.
The median U.S. home-sale price hit a record high during the four weeks ending June 29, but buyers are getting a bit of cost relief as mortgage rates decline. That’s according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage.
For Redfin economists’ takes on the housing market, please visit Redfin’s “From Our Economists” page.
Key housing-market data
| U.S. highlights: Four weeks ending June 29, 2025 Redfin’s 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. | |||
| Four weeks ending June 29, 2025 | Year-over-year change | Notes | |
| Median sale price | $400,125 | 1.4% | All-time high |
| Median asking price | $415,174 | 3.9% | |
| Median monthly mortgage payment | $2,742 at a 6.67% mortgage rate | 1.6% | Lowest level in 4 months |
| Pending sales | 86,718 | -3.2% | Biggest decline in nearly 4 months |
| New listings | 99,921 | -0.7% | First decline in nearly 6 months |
| Active listings | 1,184,250 | 14.1% | Smallest increase in over a year |
| Months of supply | 4.1 | +0.8 pts. | 4 to 5 months of supply is considered balanced, with a lower number indicating seller’s market conditions |
| Share of homes off market in two weeks | 36.3% | Down from 40% | |
| Median days on market | 37 | +5 days | |
| Share of homes sold above list price | 28.4% | Down from 32% | |
| Average sale-to-list price ratio | 99.1% | Down from 99.6% | |
| Metro-level highlights: Four weeks ending June 29, 2025 Redfin’s metro-level data includes the 50 most populous U.S. metros. Select metros may be excluded from time to time to ensure data accuracy. | |||
| Metros with biggest year-over-year increases | Metros with biggest year-over-year decreases | Notes | |
| Median sale price | Detroit (10.1%) Newark, NJ (9.4%) Cleveland (7.3%) Nassau County, NY(6.3%) New York (6%) | Oakland, CA (-3.7%) San Diego (-3.4%) West Palm Beach, FL (-3.4%) Atlanta (-3.2%) Tampa, FL (-2.7%) | Declined in 11 metros |
| Pending sales | Virginia Beach, VA (7.4%) Dallas (3.6%) Columbus, OH (2.4%) Pittsburgh (2.2%) Warren, MI (1.9%) | San Jose, CA (-16.6%) Las Vegas (-16.6%) Miami (-14.8%) Orlando, FL (-14.6%) Tampa, FL (-13.4%) | Declined in all but 10 metros |
| New listings | Warren, MI (9.5%) Cleveland (7.4%) Montgomery County, PA (6%) Milwaukee (5%) Boston (5%) | Tampa, FL (-17.6%) Orlando, FL (-15.8%) Anaheim, CA (-14.3%) San Diego (-12.1%) Riverside, CA (-12%) | |
To view the full report, including charts, please visit:
https://www.redfin.com/news/housing-market-update-new-listings-post-first-decline-six-months
Contacts
Contact Redfin
Redfin Journalist Services:
Tana Kelley
[email protected]
