Redfin Reports Pending Home Sales Post Biggest Decline in 3 Months as High Rates, Iran War Chill Market

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Easter weekend also sidelined many would-be buyers. The Iran war ceasefire announced Tuesday could ease mortgage rates. SEATTLE, April 09, 2026 --( BUSINESS WIRE )--U.S. pending home sales fell 2.4% year over year during the four weeks ending April 5, the biggest decline in three months. That’s according to a new report from Redfin , the real estate brokerage powered by Rocket. Sales fell most in Providence, RI (-15.5%), Houston (-15.4%) and New York (-15.3%). They increased most in West Palm Beach, FL (20.9%), San Francisco (16.7%) and San Jose, CA (11.4%). Homes are selling slowly, too: The typical home that went under contract did so in 51 days nationwide, the longest span for this time of year since 2019. Homebuyers are backing off for a few reasons: On the selling side, new listings dipped 2.6% year over year, the biggest decline in a month, also partly due to the impact of Easter weekend. New listings dropped most in Tampa, FL (-17.2%), Providence (-16.6%) and Miami (-13.5%). They increased in just five metro areas: San Jose (14.4%), Philadelphia (8%), Milwaukee (7.6%), Cincinnati (1.2%) and Baltimore (0.6%). While new listings are losing steam, it’s still a strong buyer’s market almost everywhere in the country. "There are more homes on the market than there are buyers, so sellers need to make sure their house stands out," said Jesse Landin , a Redfin Premier agent in San Antonio . "The most important day is picture day—that determines whether house hunters will actually walk through your home. Paint the walls, make small repairs, and, if you can afford it and your local agent agrees it's worthwhile, make bigger repairs. Your agent should also hire the right media group for photography and video; pictures taken with a phone just don't cut it anymore. And make sure you hire an agent with a clear, specific plan for your home, not just a generic approach. That's what I do—I have a plan for each home. Buyers making large down payments and taking on high monthly payments want a home that's as close to perfect as possible, because they have more choices in the market." For Redfin economists’ takes on the housing market, please visit Redfin’s " From Our Economists " page. Leading indicators Key housing-market data To view the full report, including charts, please visit: https://www.redfin.com/news/housing-market-update-pending-home-sales-decline-market-chill About Redfin Redfin is a technology-driven real estate company with the country's most-visited real estate brokerage website. As part of Rocket Companies (NYSE: RKT), Redfin is creating an integrated homeownership platform from search to close to make the dream of homeownership more affordable and accessible for everyone. Redfin’s clients can see homes first with on-demand tours, easily apply for a home loan with Rocket Mortgage, and save thousands in fees while working with a top local agent. You can find more information about Redfin and get the latest housing market data and research at https://www.redfin.com/news . For more information about Rocket Companies, visit https://www.rocketcompanies.com . View source version on businesswire.com: https://www.businesswire.com/news/home/20260409741846/en/ Contacts Contact Redfin Journalist Services: Tana Kelley [email protected]

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