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edfin’s latest data for the four‑week period ending Nov. 2 shows a modest 0.7 % rise in pending sales—the slowest quarterly gain in four months—while homes linger longer on the market, with a median of 48 days, the slowest pace since 2019. Mortgage rates have slipped to a 30‑year average of 6.17 %, the lowest in 12 months, easing the median monthly payment to $2,508, a 2.1 % drop from a year ago. Yet demand has not surged; prices climbed 2 % YoY, the biggest gain in six months, and buyers remain cautious amid inflation worries and mixed economic signals. The Fed’s hint that a December rate cut is unlikely has pushed rates up again after weeks of decline.

    Supply remains steady: new listings rose 4 % YoY, matching the modest uptick seen across fall. Active listings grew 6.7 %, the smallest increase since February 2024, and the market’s months of supply edged to 4.7, approaching balance. About 29 % of homes sold within two weeks, down from 31 %, and the share of sales above list fell to 22.8 % from 26 %, with a sale‑to‑list ratio of 98.3 % versus 98.7 % previously.

    Other indicators: the daily 30‑year rate was 6.37 % on Nov. 5, up from 6.13 % a week earlier but down from 7.09 % last year. Mortgage‑purchase applications dipped 1 % week‑to‑week but were 26 % higher YoY. The Redfin Homebuyer Demand Index rose ~3 % from a month ago but was 9 % lower YoY. Google searches for “homes for sale” jumped over 20 % month‑over‑month, and touring activity was up 7 % from the start of the year, compared with a 4 % decline last year at this time.