# US home sales edge higher as rising mortgage rates limit buyers

September closings improved from August, while borrowing costs and prices continued to weigh on affordability.

By The Signal Edition | Business / Housing
Published: 2026-10-13T16:09:27.300Z
Updated: 2026-10-13T16:16:47.249Z
Canonical: https://www.thesignaledition.com/article/mortgages-september-home-sales-1n3wr07

## 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](https://www.globenewswire.com/fr/news-release/2026/10/13/3379853/0/en/existing-home-sales-increased-1-5-in-september-according-to-nar-report.html)

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](https://www.reuters.com/business/us-existing-home-sales-rise-september-higher-mortgage-rates-dim-outlook-2026-10-13/)

## 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](https://www.globenewswire.com/fr/news-release/2026/10/13/3379853/0/en/existing-home-sales-increased-1-5-in-september-according-to-nar-report.html)

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](https://www.globenewswire.com/fr/news-release/2026/10/13/3379853/0/en/existing-home-sales-increased-1-5-in-september-according-to-nar-report.html)

## 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](https://apnews.com/article/homes-sales-mortgages-inflation-housing-market-30913a7c10184ccbca38552b840aab6c)

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](https://www.globenewswire.com/fr/news-release/2026/10/13/3379853/0/en/existing-home-sales-increased-1-5-in-september-according-to-nar-report.html)

## Reporting sources
1. [National Association of Realtors: Existing-Home Sales Increased 1.5% in September](https://www.globenewswire.com/fr/news-release/2026/10/13/3379853/0/en/existing-home-sales-increased-1-5-in-september-according-to-nar-report.html) (October 13, 2026)
2. [Reuters: US existing home sales rise in September; higher mortgage rates dim outlook](https://www.reuters.com/business/us-existing-home-sales-rise-september-higher-mortgage-rates-dim-outlook-2026-10-13/) (October 13, 2026)
3. [Associated Press: US home sales rose in September, but slowed from a year earlier](https://apnews.com/article/homes-sales-mortgages-inflation-housing-market-30913a7c10184ccbca38552b840aab6c) (October 13, 2026)