Summary
- Existing-home sales rose 1.5% from August.
- Sales remained 2.2% below a year earlier.
- Inventory reached 1.60 million homes.
September sales
US existing-home sales rose in September, but higher mortgage rates continue to constrain buyers. The National Association of Realtors said October 13 that completed sales increased 1.5% from August to an annualized pace of 3.99 million. The total remained 2.2% below September 2025, indicating that the monthly improvement did not erase the market’s weakness. [1]
Reuters reported that the average 30-year fixed mortgage rate reached 7.40% the previous week, compared with 7.28% a week earlier. Citing Freddie Mac, it described the latest level as the highest since November 2023. The increase makes financing more expensive even as more properties become available for sale. [2]
More choice, higher costs
NAR’s release put unsold inventory at 1.60 million homes, up 1.9% from August and 4.6% from a year earlier. At the current sales pace, that represented 4.8 months of supply. Its chief economist, Lawrence Yun, said greater choice and longer marketing periods were improving buyers’ negotiating position. [1]
The association reported a median price of $417,500, up 1.3% annually. Homes typically spent 33 days on the market. First-time buyers represented 31% of sales, and cash purchases 27%. These figures describe completed transactions, rather than affordability for a particular household. [1]
Reading the figures
AP placed the release in a longer period of subdued activity, noting that sales have largely stayed near a four-million annual pace since 2023, compared with a historical norm closer to 5.2 million. It also noted that August’s figure had been revised down, contributing to the reported monthly increase. [3]
NAR’s annual rate expresses the month’s seasonally adjusted pace as if it continued for a year. The existing-home series measures closings, unlike new-home statistics based on contracts or deposits. [1]
Reporting sources
- National Association of Realtors · Existing-Home Sales Increased 1.5% in September ↗October 13, 2026
- Reuters · US existing home sales rise in September; higher mortgage rates dim outlook ↗October 13, 2026
- Associated Press · US home sales rose in September, but slowed from a year earlier ↗October 13, 2026