September 2026

U.S. existing-home sales fell 2.0% from the previous month and 1.2% from a year
earlier to a seasonally adjusted annual rate of 3.98 million, the first reading below 4
million since June 2025, according to the National Association of REALTORS®
(NAR). Sales held steady in the West and declined in the Northeast, Midwest, and
South. Compared with a year earlier, sales were unchanged in the South and
declined in the Northeast, Midwest, and West.

New Listings were up 9.9 percent to 1,593. Pending Sales decreased 3.6 percent to
1,020. Inventory grew 33.7 percent to 4,237 units.

Median Sales Price was down 0.4 percent to $275,000. Days on Market increased
18.8 percent to 57 days. Months Supply of Inventory was up 28.6 percent to 3.6
months.

Heading into September, there were 1.62 million homes listed for sale, up 3.2% from
the previous month and 5.9% from a year earlier, the first time inventory has
exceeded 1.6 million units since November 2019, NAR reported. That represents a
4.9-month supply at the current sales pace, up from 4.6 months a month earlier and
the highest level in over ten years, according to NAR Chief Economist Lawrence
Yun. The median existing-home sales price rose 1.6% year-over-year to $429,100,
marking 38 consecutive months of annual gains, and year-to-date sales are up
1.6%. The Federal Reserve raised its benchmark rate by a quarter point on
September 16 to a range of 3.75% to 4%, its first increase since July 2023, and the
30-year fixed-rate mortgage moved above 7% in late September, up from an August
average of 6.67%, according to Freddie Mac.

Information courtesy of CMLS*