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For loan officers, softer asking prices may open a few buyer conversations, but pending sales are still stuck near record lows.
Redfin’s latest housing market update says home prices are losing momentum, with the median U.S. asking price falling for the first time since March. The report, published October 15, covers the four weeks ending October 11 and points to a market where sellers are starting to give up some pricing power.
The shift matters for mortgage pros because better asking-price discipline can help restart buyer conversations that went cold, even if it does not solve affordability by itself. Redfin also reported that pending home sales inched up during the week, but remain near record lows, so this is not yet a broad demand rebound.