US Existing-Home Listings Rise as Pending Sales Fall

On Thursday, Redfin reported that during the four-week period ending October 12, new listings of US homes for sale rose 4.1% year-over-year—the largest gain in more than four months.

Redfin said more homeowners are listing properties in hopes that lower mortgage rates and improved affordability will draw buyers. At 6.3%, the average 30-year rate is near its lowest level in a year.

Pending home sales, however, declined 1.2% year-over-year, the steepest drop in over five months. Homes are spending longer on the market, with the typical property taking 48 days to go under contract—about a week longer than a year ago.

Redfin said many buyers remain sidelined by high prices and economic uncertainty. The median sale price increased 1.9% year-over-year, the second-largest rise in six months, keeping payments elevated despite easing from record highs. Ongoing financial unease tied to the government shutdown, tariff concerns, and recession worries continues to weigh on buyer sentiment.