Sales of previously owned homes in the United States rose in September 2026, but the market remained historically slow, with higher mortgage rates continuing to limit how many buyers can afford to purchase. The National Association of Realtors (NAR) reported on 13 October that existing-home sales increased 1.5% from August to a seasonally adjusted annual rate of 3.99 million.
FAKTA
- Sales: 3.99 million seasonally adjusted annual rate in September, up 1.5% from August but down 2.2% from September 2025.
- Median price: $417,500, up 1.3% from $412,300 a year earlier — the 39th consecutive month of year-over-year price gains.
- Inventory: 1.60 million homes for sale, up 1.9% from August and 4.6% from a year earlier, equal to a 4.8-month supply.
- Time on market: Properties typically remained on the market for 33 days, up from 31 days in August.
- First-time buyers: 31% of sales, up from 30% in August.
A modest rise in a slow year
Despite the monthly gain, NAR Chief Economist Lawrence Yun said August and September marked the two slowest months for home sales this year. Sales in September were still 2.2% below the level of a year earlier, and the market has now run below a 4 million annual pace for two consecutive months.
“Further increases in mortgage rates in recent weeks mean fewer buyers can qualify to purchase a home,” Yun said. “Higher inventory and lengthening days on market give buyers improved negotiating power. Home sellers need to be realistic about local market conditions, which could require price discounts and other incentives to attract buyers.”
A for-sale sign in front of a house. Higher inventory is giving buyers more negotiating power, according to NAR.
Regional picture
Month over month, sales increased in the South and West, held steady in the Midwest and declined in the Northeast. Year over year, sales were lower in all four regions.
| Region | September annual pace | Change from August |
|---|---|---|
| South | 1.86 million | +2.8% |
| West | 730,000 | +2.8% |
| Midwest | 930,000 | Steady |
| Northeast | 470,000 | −2.1% |
In the South, the median price was $361,000. The West recorded the sharpest yearly sales decline, at 5.2%, despite its monthly bounce.
Mortgage rates remain the key obstacle
The average 30-year fixed mortgage rate was 6.86% in September, according to Freddie Mac figures cited by NAR, up from 6.67% in August and 6.35% a year earlier. Rates rose further in October, averaging 7.40% in the week of 8 October, adding to the affordability squeeze.
NAR’s Housing Affordability Index stood at 105.4 in September, down from 106.7 a year earlier. Investors and second-home buyers made up 20% of purchases, up from 15% in August.
What it means for buyers and sellers
For buyers, the combination of more homes on the market and longer selling times means more choice and more room to negotiate than at any point in recent years. For sellers, the message from the data is that realistic pricing matters: homes that are priced for today’s mortgage-rate reality are the ones moving, while overpriced listings sit longer.
Whether September’s small uptick marks the start of a recovery or merely a pause in a slow year will depend largely on where mortgage rates go next, with the market watching the US Federal Reserve’s late-October meeting closely.
