Median Home Sale Price Falls for the First Time in 3 Years

U.S. home prices just turned negative for the first time in more than three years. The median home sold for $389,601 in the four weeks ended Oct. 25, down 0.1% from a year earlier, the second straight week in which the year-over-year figure has ticked down after three years of increases, according to Redfin data covering the four weeks ended Oct. 25.

Key Takeaways The median U.S. home sale price fell 0.1% year over year to $389,601 in the four weeks ended Oct. 25, the first decline in more than three years. The median monthly mortgage payment hit $2,786, up 10.7% year over year and the second-highest on record, even as the sticker price slipped. Pending sales fell 1.8% week over week to the l…