According to Redfin’s weekly housing-market update covering the four weeks ending September 13, 2026 (published September 17, 2026).
What the report says
Seasonally adjusted pending sales dropped 3.5% week over week to 299,126 — the lowest reading in almost three years, and down 5.4% from a year earlier.
Home sale prices held steady: the median sale price was $397,633, up 2% year over year. Redfin’s seasonally adjusted median monthly mortgage payment was $2,633 at a 6.76% mortgage rate (up 3.4% from a year ago). That payment figure reflects the survey window ending September 13; Freddie Mac’s later weekly print (September 17) put the 30-year average higher at 6.95%.
Supply is still giving shoppers options. New listings were up 1.5% year over year, and active listings rose 1.5% to about 1.50 million. Months of supply sat at 4.1 (up from 3.9 a year earlier). About 20.8% of listings carried a price cut (up from 19.7% a year ago), and the typical sold home spent 46 days on the market — unchanged from last year.
Key points for California and Oregon shoppers
- Among large metros, San Diego pending sales were down 14.7% year over year in Redfin’s metro ranking — a sign of softer demand in a major Southern California market.
- Anaheim new listings were up 12.7% year over year, pointing to more fresh inventory in Orange County.
- Nationally, about 1 in 4 homes that sold (25.1%) still went above list price — so well-priced homes can still draw competition.
Why it matters if you are buying or already own
Soft pending activity does not mean every listing is a deal. It does mean more buyers are pausing while costs stay elevated — which can leave active shoppers with more homes to choose from and more time to compare.
If you already own and are not shopping, this weekly tracker does not change your payment. If you are buying in California or Oregon, pair today’s inventory picture with a current written Loan Estimate; the national payment figure above used a 6.76% rate from Redfin’s window, and recent Freddie Mac averages have moved higher.
Important limits
- Redfin’s national metrics cover 900+ U.S. metros and are subject to revision. Local California and Oregon neighborhoods can look very different from the national average.
- Pending sales measure contracts signed, not closings. They are a leading signal of demand, not a guarantee of where prices go next.
- This is market data, not advice to buy, wait, or make an offer. Your budget, credit, and local inventory all matter.
Bottom line: Redfin’s four-week window ending September 13 put pending home sales at a nearly three-year low, while active listings and price cuts stayed elevated. Shoppers who can still qualify may find more choices and negotiating room — but payment math still hinges on the rate you are actually quoted today.
Source: Redfin — Pending Home Sales Dip to Lowest Level in Nearly 3 Years (four weeks ending September 13, 2026).