Redfin: Asking prices fall 0.3% as more sellers cut their price
Redfin’s October 15 report shows asking prices below a year earlier, while completed sale prices remain slightly higher. Buyers still face expensive financing.
By Brandon Salem · 3 min read
U.S. home sellers are asking slightly less than a year ago, according to Redfin’s October 15 housing update. The median asking price fell 0.3% from a year earlier during the four weeks ending October 11, the first annual decline since March.
For homebuyers and purchase loan officers, the useful distinction is between the price a seller wants and the price a buyer ultimately pays. More price reductions can create room for negotiation, but they do not establish that a particular property is fairly priced or affordable at today’s financing costs.
Asking prices and sale prices tell different stories
Redfin reported a median asking price of $396,881. Its median completed sale price was $391,116, up 0.5% from a year earlier. That was the slowest annual sale-price growth since March, but it was still growth.
The two figures describe different groups of homes. They should not be subtracted to calculate an average buyer discount. Homes closing now also reflect negotiations and financing decisions made earlier.
Redfin said 22% of active listings had a price reduction, the highest share in its records. That compares with 20.9% a year earlier. A price cut is a change to a listing, not proof that the home has sold or that another reduction will follow.
More negotiation room, with financing still a constraint
Pending sales remained weak compared with a year earlier, even though they increased from the preceding week. The report also showed small weekly increases in new listings and active inventory. Those observations describe the national market; a buyer’s choices can look very different within a particular neighborhood and price range.
It would be misleading to treat the asking-price decline as an equivalent reduction in a monthly mortgage payment. Payments depend on the purchase price, down payment, interest rate, loan term, taxes, insurance and any mortgage insurance. A national housing statistic cannot replace an actual loan estimate.
A practical check before making an offer
Buyers can ask their agent for recent comparable closed sales and the property’s listing history, then have their lender price the specific financing scenario. When discussing a seller credit, confirm the loan program’s limits and what the credit can actually pay for.
For loan officers, the borrower-facing message is straightforward: more sellers are adjusting asking prices, but the affordability decision still belongs to the individual property and loan. Keep a negotiated price reduction separate from a temporary payment subsidy or a lower interest rate. They are different concessions with different effects over time.
Watch: Redfin's asking-price data in 15 seconds
Transcript (on-screen text, no narration; original instrumental music): REDFIN HOUSING MARKET UPDATE · PUBLISHED OCT. 15, 2026. Asking prices slip. Price cuts hit a record. Four weeks ending Oct. 11, 2026 · U.S. national. MEDIAN ASKING PRICE. $396,881 , down 0.3% year over year (seasonally adjusted). First decline since March. MEDIAN SALE PRICE. $391,116 , up 0.5% year over year. Slowest growth since March. ACTIVE LISTINGS WITH A PRICE DROP. 22% of active listings had a price drop. Highest in Redfin’s records. PENDING HOME SALES. −12.7% , pending sales, year over year. Four-week national data. Local markets vary. Asking $396,881 (▼0.3% YoY) · Sale $391,116 (▲0.5%) · 22% of listings with a price drop · Pending sales −12.7%.
Cover: Redfin logo, via Wikimedia Commons (public domain). Redfin trademark, shown for identification only.
