New home listings in the United States rose 2.1% week-over-week for the four weeks ending August 30, reaching their highest level since August 2022, an 8% increase year-over-year, according to Redfin’s weekly housing market report. Meanwhile, pending home sales dropped 0.1% week-over-week, their lowest reading since February, and fell 2.5% year-over-year. The median home sale price came in at $398,632, up 2.2% year-over-year, while 30-year fixed mortgage rates stood at 6.66%, pushing the estimated median monthly mortgage payment to $2,592, a record low in housing affordability.
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