The US median home-sale price slips 0.1% in a year to $389,601, Redfin says - Austin's falls 4.6%, the third-steepest drop of the 50 biggest metros, and new listings fall 18.7% in San Antonio and 17.6% in Dallas

The median US home-sale price was $389,601 in the four weeks ending 25 October, down 0.1% from a year earlier, Redfin reports. It follows a 0.2% decline the week before, after three straight years of increases.

Austin's median sale price fell 4.6% on the year, the third-largest decrease among the 50 most populous US metros, behind Seattle at 5.1% and San Jose at 4.9%.

New listings fell most in Atlanta, down 26.5%, then San Antonio, down 18.7%, Dallas, down 17.6%, and Austin, down 12.9%. Nationally, new listings were 4% below a year earlier at 352,421, their lowest level since January.

Pending sales fell 1.8% from a week earlier to 276,352, the lowest in Redfin's records, which date back to 2021, and 15.9% below a year earlier. They declined in all 50 of the most populous metros for the third week in a row, Redfin says.

The median monthly mortgage payment was $2,786 at a 7.32% rate, up 10.7% on the year and the highest in Redfin's records except the prior week. Active listings rose 2.2% to 1,510,619, which Redfin puts at 4.5 months of supply, up from 4. 21.5% of listings had a price drop, and the average home sold for 98.3% of its list price.

Redfin's national figures cover more than 900 metro areas and are rolling four-week numbers, "Subject to revision".