{"id":69883,"date":"2025-07-17T12:35:19","date_gmt":"2025-07-17T12:35:19","guid":{"rendered":"https:\/\/www.europesays.com\/us\/69883\/"},"modified":"2025-07-17T12:35:19","modified_gmt":"2025-07-17T12:35:19","slug":"sellers-start-pricing-lower-monthly-mortgage-payments-dip-to-4-month-low","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/69883\/","title":{"rendered":"Sellers Start Pricing Lower, Monthly Mortgage Payments Dip to 4-Month Low"},"content":{"rendered":"

The median U.S. asking price posted its smallest increase since the start of 2025 as more sellers come to terms with the reality of today\u2019s buyer\u2019s market.\u00a0<\/p>\n

The median U.S. asking price was $407,000 during the four weeks ending July 13, up 2.9% year over year, the smallest increase in over four months. That\u2019s just slightly higher than the median home-sale price of $401,120; the small size of that gap is a sign that sellers are starting to price their homes lower as they realize it\u2019s a buyer\u2019s market. The median sale price is up just 1.7% year over year; given that the average U.S. wage has increased by more than 4%<\/a>, homes are more affordable than they were last year. <\/p>\n

The housing market has been tilting in buyers\u2019 favor for months, with buyers getting concessions from sellers<\/a> and often successfully negotiating sale prices down<\/a>. The slowdown in asking-price growth, along with the shrinking gap between the prices sellers want for their homes and the prices buyers are willing to pay, is a sign that sellers are coming to terms with the reality of today\u2019s buyer\u2019s market.\u00a0<\/p>\n

Another sign that homeowners have caught onto today\u2019s market conditions: Listings are losing steam. New listings are down nearly 1% year over year, the biggest decline since the start of 2025. Still, there are hundreds of thousands more home sellers<\/a> than buyers in the U.S. The total number of homes for sale is up 12%, while pending sales are down 2%.\u00a0<\/p>\n

Sale prices are still at a record high, but they may decline soon; Redfin forecasts that the median U.S. home-sale price will fall 1% year over year<\/a> by the end of 2025. And homebuyers\u2019 median monthly housing payment is coming down, dropping to a four-month low this week as the weekly average<\/a> mortgage rate sits near its lowest level since early spring.\u00a0\t\t<\/p>\n

The combination of a buyer\u2019s market and falling monthly payments is encouraging some buyers to return to the market. Home tours are rising much faster<\/a> this year than the same period last year, and Google searches of \u201chomes for sale\u201d are at their highest level in over a year.\u00a0<\/p>\n

\u201cBuyers should look at a lot of homes and make a lot of offers\u2013even if they\u2019re low or below market value\u2013as more and more sellers are willing to make a deal,\u201d said Jim Fletcher<\/a>, a Redfin Premier agent in Tampa, FL.<\/a> \u201cThere\u2019s a backlog of inventory, especially when it comes to condos, townhouses and newly built homes. Builders are giving all sorts of incentives, like mortgage-rate buydowns and covering closing costs, to get homes off their books. The one exception: desirable, move-in ready homes in the center of town where there aren\u2019t as many new construction homes to compete with. Buyers will usually pick those up relatively quickly if they\u2019re priced right.\u201d<\/p>\n

For Redfin economists\u2019 takes on the housing market, please visit Redfin\u2019s \u201cFrom Our Economists<\/a>\u201d page.\u00a0<\/p>\n

Leading indicators\u00a0<\/b><\/p>\n\nIndicators of homebuying demand and activity<\/b><\/td>\n<\/tr>\n\n\nValue (if applicable)<\/b><\/td>\nRecent change<\/b><\/td>\nYear-over-year change<\/b><\/td>\nSource<\/b><\/td>\n<\/tr>\n\nDaily average 30-year fixed mortgage rate<\/b><\/td>\n6.83% (July 16)<\/td>\nUp from 6.67% two weeks earlier<\/td>\nUnchanged<\/td>\nMortgage News Daily\u00a0<\/a><\/td>\n<\/tr>\n\nWeekly average 30-year fixed mortgage rate<\/b><\/td>\n6.72% (week ending July 10)<\/td>\nUp from the prior week\u2019s 3-month low of 6.67%<\/td>\nDown from 6.89%<\/td>\nFreddie Mac<\/a><\/td>\n<\/tr>\n\nMortgage-purchase applications (seasonally adjusted)<\/b><\/td>\n\nDown 12% from a week earlier (as of week ending July 11)<\/td>\nUp 13%<\/td>\nMortgage Bankers Association<\/a>\u00a0<\/td>\n<\/tr>\n\nTouring activity<\/b><\/td>\n\nUp 14% from the start of the year (as of July 14)<\/td>\nAt this time last year, it was up 4% from the start of 2024<\/td>\nShowingTime<\/a>, a home touring technology company<\/td>\n<\/tr>\n\nGoogle searches for \u201chome for sale\u201d<\/b><\/td>\n\nHighest level in nearly 2 years (as of July 14)<\/td>\nUp 9%<\/td>\nGoogle Trends\u00a0<\/a><\/td>\n<\/tr>\n\nWe excluded the Redfin Homebuyer Demand Index this week to ensure data accuracy.<\/td>\n<\/tr>\n

Key housing-market data<\/p>\n

\u00a0<\/p>\n\nU.S. highlights: Four weeks ending July 13, 2025<\/b><\/p>\n

Redfin\u2019s 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.\u00a0<\/p>\n<\/td>\n<\/tr>\n\n\nFour weeks ending July 13, 2025<\/b><\/td>\nYear-over-year change<\/b><\/td>\nNotes<\/b><\/td>\n<\/tr>\n\nMedian sale price<\/b><\/td>\n$401,120<\/td>\n1.7%<\/td>\nAll-time high<\/td>\n<\/tr>\n\nMedian asking price<\/b><\/td>\n$407,000<\/td>\n2.9%<\/td>\nSmallest increase in 5 months<\/td>\n<\/tr>\n\nMedian monthly mortgage payment<\/b><\/td>\n$2,699 at a 6.72% mortgage rate<\/td>\n2.4%<\/td>\nLowest level in 4 months<\/td>\n<\/tr>\n\nPending sales<\/b><\/td>\n81,906<\/td>\n-1.9%<\/td>\n\n<\/tr>\n\nNew listings<\/b><\/td>\n93,164<\/td>\n-0.3%<\/td>\n\n<\/tr>\n\nActive listings<\/b><\/td>\n1,171,312<\/td>\n11.9%<\/td>\nSmallest increase since March 2024<\/td>\n<\/tr>\n\nMonths of supply\u00a0<\/b><\/td>\n4.1<\/td>\n+0.5 pts.\u00a0<\/td>\n4 to 5 months of supply<\/a> is considered balanced, with a lower number indicating seller\u2019s market conditions\u00a0<\/td>\n<\/tr>\n\nShare of homes off market in two weeks\u00a0<\/b><\/td>\n34%<\/td>\nDown from 38%<\/td>\n\n<\/tr>\n\nMedian days on market<\/b><\/td>\n38<\/td>\n+5 days<\/td>\n\n<\/tr>\n\nShare of homes sold above list price<\/b><\/td>\n27.9%<\/td>\nDown from 32%<\/td>\n\n<\/tr>\n\nAverage sale-to-list price ratio\u00a0<\/b><\/td>\n99%<\/td>\nDown from 99.5%<\/td>\n\n<\/tr>\n\n

Metro-level highlights: Four weeks ending July 13, 2025<\/b><\/p>\n

Redfin\u2019s metro-level data includes the 50 most populous U.S. metros. Select metros may be excluded from time to time to ensure data accuracy.\u00a0<\/p>\n<\/tr>\n\n

Metros with biggest year-over-year increases<\/b>
\nMetros with biggest year-over-year decreases<\/b><\/p>\n

Notes<\/b><\/p>\n<\/tr>\n\nMedian sale price<\/b>
\nCleveland (11.8%)<\/p>\n

Newark, NJ (10.2%)<\/p>\n

Detroit (7.7%)<\/p>\n

Nassau County, NY(7.7%)<\/p>\n

Cincinnati (7.6%)<\/p>\n

Oakland, CA (-7.6%)<\/p>\n

West Palm Beach, FL (-5.1%)<\/p>\n

Tampa, FL (-2.6%)<\/p>\n

Atlanta (-2.6%)<\/p>\n

Austin, TX (-2.4%)<\/p>\n

Declined in 12 metros<\/p>\n<\/tr>\n\nPending sales<\/b><\/td>\nVirginia Beach, VA (12.1%)<\/p>\n

Phoenix (8.7%)<\/p>\n

Warren, MI (8.2%)<\/p>\n

Montgomery County, PA (5.1%)<\/p>\n

Milwaukee (4.6%)<\/p>\n<\/td>\nSan Jose, CA (-18.8%)<\/p>\n

Miami (-15.1%)<\/p>\n

Tampa, FL (-13.3%)<\/p>\n

Las Vegas (-12.8%)<\/p>\n

Orlando, FL (-12.7%)<\/p>\n<\/td>\n\n<\/tr>\n\n\n\n\n\n<\/tr>\n

Refer to our metrics definition page<\/a> for explanations of all the metrics used in this report.<\/p>\n

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\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"The median U.S. asking price posted its smallest increase since the start of 2025 as more sellers come…\n","protected":false},"author":3,"featured_media":69884,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[64,135,1571,67,132,68,49242,49243],"class_list":{"0":"post-69883","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-business","9":"tag-markets","10":"tag-national","11":"tag-united-states","12":"tag-unitedstates","13":"tag-us","14":"tag-weekly-market-tracker","15":"tag-weekly-market-update"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/114868605759060870","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/69883","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=69883"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/69883\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/69884"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=69883"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=69883"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=69883"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}