Latest Real Estate News: November 13, 2026

This edition leads with two numbers that landed the same day. Freddie Mac's survey, released Thursday, November 12, put the 30-year fixed-rate mortgage at 7.11%, a fourth straight weekly decline, and NAR's October existing-home sales report showed the slowest national sales pace since 2010. In Oregon, rents eased and Tigard opened a 63-unit affordable complex built around housing stability, and in Idaho, Boise Regional REALTORS began publishing its October market report in a new two-phase format while the Idaho Statesman reported Boise rents rising among the fastest in the nation. Every figure below links to the organization that published it, and Paul's own monthly tables are live on the Market Meter and market data pages.

Rates: a fourth straight weekly decline

Freddie Mac's Primary Mortgage Market Survey, released Thursday, November 12, put the average 30-year fixed-rate mortgage at 7.11%, down from 7.18% the previous week and the fourth consecutive weekly decline: 7.32% on October 22, 7.24% on October 29, 7.18% on November 5, and 7.11% on November 12. The average 15-year fixed rate came in at 6.45%, down from 6.57%. A year ago the 30-year averaged 6.24%, so rates are still roughly nine-tenths of a point higher than they were, but the slide back from October's 7.40% peak restores a little buying power for every week it continues.

Redfin reported the same week that the typical monthly mortgage payment fell to its lowest level in six weeks as home prices keep dipping. Paul's standing advice in both states stays the same: get pre-approved first, compare the lock options your lender offers, and buy when the number works for your budget instead of waiting for a trough that may not arrive. The Federal Reserve's next rate decision is December 9.

Nationally: the slowest existing-home sales pace since 2010

NAR's October existing-home sales report, released November 12, put existing-home sales at a seasonally adjusted annual rate of 3.75 million, down 5.5% from September and 8.8% from a year earlier, the slowest pace since 2010. The median existing-home price was $416,700, up 0.4% year over year and a record for the month. Supply kept building: 1.59 million homes were on the market, a 5.1-month supply and the highest inventory level since late 2015, with the median home spending 35 days on the market. NAR attributed the slowdown to mortgage rates above 7%.

Redfin's rolling four-week read through November 8 put the U.S. median sale price at $388,613, down 0.9% from a year earlier, a fourth consecutive decline, with new listings at their lowest level since January and active inventory up 2.1% to about 1.5 million homes, a 4.6-month supply. Pending sales are tracking at their lowest level since 2021. The picture is consistent across providers: more choice, slower movement, and prices responding to both.

New construction: a softer pipeline

The Census Bureau's September reports, both already published as of this edition, showed new single-family home sales at a seasonally adjusted annual rate of 676,000, down 5.3% from a year earlier, with 476,000 new homes for sale, an 8.4-month supply and a median new-home price of $400,400. Housing starts ran at 1.221 million, down 5.2% from August, with single-family starts at 859,000, down 4.6%. October data for both series is due over the next two weeks: starts on November 18 and new home sales on November 25.

A cooling national pipeline matters here because new construction is a large share of listings in the Treasure Valley and a growing one in the Portland Metro. With an 8.4-month supply of new homes nationally, builders are competing for ready buyers with price cuts and incentives, and buyers comparing a resale against a new build should weigh base prices, lot premiums, and construction timelines side by side.

Oregon: rents ease, and Tigard opens a stability-focused complex

The Oregonian reported this week, using Zillow data, that Oregon rents have started to ease: the Portland average slipped about 1% to $1,776 a month, and the statewide average fell nearly 3% to about $1,800. In a market where affordability is the defining constraint for buyers and renters alike, that is a small but real turn.

The Oregonian also reported that Woodland Hearth, a new 63-unit affordable complex in Tigard that pairs rent assistance with on-site support services, has opened, with 92% of residents in the developer's similar properties staying stably housed. The RMLS October report, released earlier this week, kept the Portland Metro at a 4.3-month supply with a median sale price of $545,000, up 0.9% from a year earlier: a balanced market that keeps giving buyers time and sellers a reason to price honestly.

Treasure Valley: October's report arrives in two phases

Boise Regional REALTORS' October 2026 market report began publishing this week in a new two-phase format: separate Ada County and Canyon County snapshots released around mid-month, with full county stat sheets to follow later in November. September remains the latest complete official monthly read, with Ada County's median at $575,000, up 2.9% year over year, and about 2.5 months of supply, still well below the 4 to 6 months that marks a balanced market.

Separately, the Idaho Statesman reported that Boise renters face some of the fastest rising rents in the nation, a reminder that even as the for-sale market cools, the rental side of the valley's housing crunch has not resolved. Supply of every kind remains the long-term issue, and the state's job growth, led by Micron's roughly $50 billion Boise expansion with about 18,000 jobs attached, keeps demand pointed in the same direction.

What it means for your move

• First-time buyers: four straight weeks of rate declines have restored some buying power, and the national data keeps showing sellers accepting below-ask offers. Get pre-approved, and lock when the number fits your budget instead of chasing a trough.
• Sellers: the slowest national sales pace since 2010 is a pricing signal, and it shows up locally as longer market times. Price and prep from current data, and expect buyers to compare more homes before they commit.
• Move-up and relocating buyers: two slower markets give you room to coordinate the Oregon sale and the Idaho purchase on one calendar, and to use the inspection and the financing dates to keep both closings honest.
• Investors: national inventory at its highest since late 2015 and a cooling new-home pipeline mean more negotiating room, while easing Oregon rents and fast-rising Boise rents make the two states very different income stories.
• New-construction buyers: builders are competing for ready buyers, and an 8.4-month supply of new homes nationally shows why. Compare base prices, lot premiums, and incentives side by side before you choose.
• Divorce and estate sales: with more inventory and slower sales, presentation and honest pricing are the difference between weeks and months on market.

Figures are the latest published at the time of writing and can be revised by the organizations that issue them. Freddie Mac's survey for the week of November 12 put the 30-year fixed rate at 7.11%; NAR's October existing-home sales report was released November 12; and Boise Regional REALTORS' October report publishes in two phases, with full Ada and Canyon county stat sheets due later in November. October housing starts and new home sales data from the Census Bureau follow on November 18 and November 25. For the full local tables, see the Market Meter and the market data page.