Data Analysis
The U.S. median home-sale price fell 0.4 percent from a year earlier to $388,634 in October 2026, Redfin's first annual decline since May 2023, as pending sales hit their lowest level since 2013 outside April 2020 and inventory shrank in three South and Northeast Florida metros.
Redfin's October report, published November 10, shows pending sales down 15.1 percent from a year earlier. Fort Lauderdale listings fell 13.5 percent.
The median U.S. home-sale price was $388,634 in October 2026, down 0.4 percent from a year earlier and the first annual decline since May 2023, Redfin reported on Tuesday, November 10, 2026. Pending home sales fell 3.6 percent from September and 15.1 percent from a year earlier to 300,430, seasonally adjusted, their lowest level since 2013 except April 2020. Existing home sales ran at a seasonally adjusted annual rate of 4,090,233, down 1.7 percent in the month. Active listings rose 0.9 percent to 1,526,984, the most since early 2020. In Florida, active listings fell 13.5 percent from a year earlier in Fort Lauderdale, 12.4 percent in West Palm Beach and 11.9 percent in Jacksonville, while they rose 5.4 percent in Tampa and 6.6 percent in Orlando.
What happened to home prices in October 2026?
Redfin's median sale price for October was $388,634, 0.4 percent below October 2025. Redfin does not seasonally adjust the median sale price and did not report a monthly change for it. The decline follows weekly readings in late October, when Redfin's four-week median slipped 0.1 percent year over year in the period ending October 25.
Sellers gave ground on price. Sixty-one percent of October sales closed below their original list price, up 0.2 points from both September and a year earlier. Thirty-six percent of homes sold had at least one price cut, the highest share in Redfin's records. The average sale closed at 96.1 percent of its original list price.
How many homes sold in October 2026?
Closed sales totaled 274,987, seasonally adjusted, down 2.1 percent from September and 6.7 percent from a year earlier, the lowest level since December 2023. On an annualized basis, existing home sales were 4,090,233, down 6.8 percent from October 2025.
Contract signings fell further. Pending sales were down 15.1 percent from a year earlier, and 14.9 percent of pending sales fell out of contract, up 1.8 points from a year earlier. The 30-year fixed mortgage rate averaged 7.33 percent in October in Redfin's figures, up from 6.86 percent in September and 1.08 points higher than a year earlier.
Chen Zhao, Redfin's head of economics, said, "It's a buyer's market, but not many people can afford to buy."
Is housing inventory rising?
Nationally, yes. Active listings rose 0.9 percent from September and 2 percent from a year earlier, while new listings fell 1 percent in the month and 3.9 percent over the year to 372,431. Months of supply reached 4.3, up 0.5 from a year earlier. The typical home spent 50 days on the market, one day more than a year earlier.
Active listings rose even as new listings fell to their lowest level in more than two years, a sign that listed homes are staying on the market longer.
How did Florida metros compare in Redfin's October report?
Redfin's metro table covers the 50 most populous metros, including six in Florida. All figures below are year-over-year changes.
| Metro | Median sale price | Price change | Pending sales | Closed sales | Active listings | New listings |
|---|---|---|---|---|---|---|
| Miami | $551,561 | +0.3% | -13.9% | -12.8% | -10.9% | -2.7% |
| Fort Lauderdale | $433,476 | -3.7% | -8.6% | -9.0% | -13.5% | -1.0% |
| West Palm Beach | $513,196 | +0.6% | -5.8% | -6.8% | -12.4% | -3.0% |
| Tampa | $373,686 | +1.0% | -11.2% | -7.6% | +5.4% | -2.5% |
| Orlando | $398,598 | -2.8% | -13.6% | -4.8% | +6.6% | -1.8% |
| Jacksonville | $378,669 | +5.2% | -8.4% | -9.3% | -11.9% | -1.5% |
Fort Lauderdale, West Palm Beach and Jacksonville had the three largest drops in active listings among the 50 metros. Those three also sold faster. In Fort Lauderdale, the typical home that went under contract did so in 90 days, 18 days faster than a year earlier, the largest improvement Redfin measured. West Palm Beach was 15 days faster and Jacksonville 14 days faster.
Tampa and Orlando moved the other way. Their listings grew, and homes took longer to sell: 21 more days in Tampa and 9 more in Orlando, the two largest increases in days on market in Redfin's set. West Palm Beach had one of the smallest declines in pending sales nationally, at 5.8 percent.
Jacksonville posted the largest price gain of the six Florida metros at 5.2 percent, and Fort Lauderdale the largest decline at 3.7 percent. Local detail is on the Fort Lauderdale, West Palm Beach, Jacksonville, Tampa, Orlando and Miami market pages, and our Redfin Home Price Index article tracks repeat-sale prices in the same metros.
What does this mean for Florida buyers and sellers?
A median price decline paired with record price cuts gives buyers more room to negotiate on price, closing costs or a mortgage rate buydown. Zhao advised buyers to consider offering below asking price. Costs still weigh on payments: today's October CPI article covers inflation, and our Q3 household debt article reports that new serious mortgage delinquencies rose to 1.60 percent. Freddie Mac's weekly 30-year average was 7.18 percent for the week ending November 5, as covered in our November 5 mortgage rates article. The Florida news hub collects the week's releases.
People also ask
Are home prices falling in 2026?
Redfin's national median sale price was $388,634 in October 2026, down 0.4 percent from a year earlier, its first annual decline since May 2023.
How many homes sold in October 2026?
Redfin counted 274,987 closed sales in October 2026, seasonally adjusted, down 2.1 percent from September. Existing home sales ran at a 4,090,233 annual rate.
Is it a buyer's market in Florida?
Redfin's October data show buyers gaining leverage nationally, with 61 percent of homes selling below original list price. In Florida, listings rose in Tampa and Orlando and homes took longer to sell there, while listings fell in Fort Lauderdale, West Palm Beach and Jacksonville.
What is the median home price in Jacksonville in October 2026?
Redfin's median sale price for the Jacksonville metro was $378,669 in October 2026, up 5.2 percent from a year earlier.
Limitations
Redfin's figures come from MLS and public records data and are seasonally adjusted except the median sale price and mortgage rate. Metro figures are year-over-year changes for metropolitan areas, which are larger than any single city or county, and Redfin may drop metros to protect accuracy. Redfin's counts and medians differ from the National Association of Realtors and Florida Realtors because coverage and methods differ; NAR's October existing-home sales are due Thursday, November 12, and Florida Realtors' October data on November 16. No forecast is made here.
Sources
Redfin, "October 2026 U.S. Housing Market Report," Dana Anderson, published November 10, 2026, redfin.com/news, including the metro table. Redfin, weekly housing market update for the four weeks ending October 25, 2026, published October 29, 2026. Freddie Mac Primary Mortgage Market Survey, week ending November 5, 2026. Federal Reserve Bank of New York, Quarterly Report on Household Debt and Credit, Q3 2026, released November 10, 2026.
Disclosure: Jon Brooks is a co-founder of Momentum Realty, a Florida real estate brokerage that owns and funds Florida Housing Intelligence. Momentum has a financial interest in Florida real estate transactions, including in markets named here. See our editorial standards.
Figures in this article are published by Redfin and are current as of the date shown. Data may be preliminary and subject to revision by its source. This article is general information, not advice about any specific property, transaction, or financial decision, and is not a representation about any specific property, community, builder, or association.
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