Are Home Prices Really Falling and Does That Apply to Staten Island and Brooklyn?

According to Redfin's November 5, 2026 report, the US median home sale price was about 388,604 dollars for the four weeks ending November 1, down 0.4 percent year over year. It was the third straight week of annual declines, following three years of increases.

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What did Redfin report about home prices on November 5, 2026?

According to Redfin, the US median home sale price was about 388,604 dollars for the four weeks ending November 1, down 0.4 percent year over year. It was the third straight week of annual declines, following three years of increases. New listings also fell to their lowest level since January.

What do Cotality and NAR show about prices by region?

Cotality's November 3, 2026 report, using September data, showed national single family prices up 1.7 percent year over year but down 0.3 percent from August, with sharp regional differences. New Jersey was up 5.1 percent and Connecticut up 6.0 percent, while Texas, Washington, and Hawaii posted declines. Separately, NAR's third quarter report showed the Northeast up 4.0 percent, the strongest of the four regions.

What did the Realtor.com October report say about listings?

According to the Realtor.com October report released November 4, 2026, new listings fell 7.5 percent year over year, the steepest decline of 2026, while delistings and price cuts stayed close to last year's levels. In other words, sellers are holding off on listing rather than pulling homes or slashing prices.

Are home prices falling everywhere?

No. The Redfin figure is a small national decline of 0.4 percent, while Cotality shows national prices still up 1.7 percent year over year. Taken together, the three reports describe a national market that is cooling in some regions and still appreciating in others, so the national headline only tells part of the story.

Is Staten Island still a seller's market?

Local data showed roughly 3.4 months of supply as of last month, which still favors sellers. Months of supply varies by neighborhood and property type, so a specific block or building can behave differently from the borough average.

What does the national price softness mean for Staten Island and Brooklyn buyers and sellers?

National price softness is concentrated in other regions, and the Northeast is still appreciating. Buyers waiting for the national decline to reach Staten Island and Brooklyn may be waiting a while, though lower listing volume also means fewer choices right now. Sellers holding out for spring will likely face more competition then than now. This is general market information, not financial advice, and local conditions vary by neighborhood.

Questions about how this affects your home in Staten Island or Brooklyn? Work with Joseph Ranola, or text or call (917) 905-2541. New episodes of Daily Tesla News break down the NYC real estate stories that move the market.