Home Prices Hit All-Time High

According to a brief report from Redfin News, pending home sales posted their biggest decline since February in June of this year—good news for prospective buyers as there are more new listings to choose from, and monthly housing payments are down around $100 from their peak in April due to declining, but still relatively high, mortgage rates. 

While Redfin did not post an in-depth analysis of this news this news cycle, they did still report the latest housing market data via charts and graphs.

By the numbers

  • Daily average 30-year fixed mortgage rate via Freddie Mac: 7.13%, up from 7.03 year-over-year 
  • Mortgage-purchase applications (seasonally adjusted): down 12% year-over-year 
  • Touring activity via ShowingTime: up 11% year-over-year 
  • Google searches for “home for sale”: down 20% year-over-year 
  • Median sale price: $397,954, up 4.9% year-over-year, at all-time high 
  • Median asking price: $409,975, up 6.1% year-over-year representing the biggest increase since October 2022 
  • Median monthly mortgage payment: $2,749 @6.86%, up 6.5% year-over-year 
  • Pending sales: 87,160, down 4.6% year-over-year 
  • New listings: 100,989, up 9.9% year-over-year 
  • Active listings: 967,516, up 17.5% year-over-year 
  • Months of supply: 3.3 (four to five months is considered balanced) 
  • Median days on market: 32, up five days year-over-year 
  • Share of homes sold above list price: 32.3%, down 3.7% year-over-year

Click here for the full report. 

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Kyle G. Horst

Kyle G. Horst is a reporter for MortgagePoint. A graduate of the University of Texas at Tyler, he has worked for a number of daily, weekly, and monthly publications in South Dakota and Texas. With more than 10 years of experience in community journalism, he has won a number of state, national, and international awards for his writing and photography including best newspaper design by the Associated Press Managing Editors Group and the international iPhone photographer of the year by the iPhone Photography Awards. He most recently worked as editor of Community Impact Newspaper covering a number of Dallas-Ft. Worth communities on a hyperlocal level. Contact Kyle G. at kyle.horst@thefivestar.com.
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