Existing-Home Sales Rose Slightly in September

While monthly sales climbed by 1.5%, rising mortgage rates and lower volume continue to influence current market conditions.

Updated on Oct. 13, 2026 in Residential

Flat opaque gouache-painted illustration of a single house key resting on a wooden surface, evoking the cooling residential housing market. — Existing-home sales in the U.S. rose by 1.5% in September, though record-low volume and higher mortgage rates continue to dampen the broader market. AI Illustration. Upload story photo >

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Existing-home sales increased 1.5% month-over-month in September, though volume remains down 2.2% compared to the same time last year. August and September marked the lowest sales volume recorded for 2026 across the United States.

Why it matters

Recent increases in mortgage rates have restricted the number of potential buyers who can qualify for a mortgage, keeping sales volume lower than in previous periods. This cooling trend is now manifesting in more frequent price discounts and buyer incentives as sellers adjust to shifting demand.

Existing-home sales saw a modest 1.5% monthly gain in September, despite an overall 2.2% decline in year-over-year volume. Regional performance varied, with growth concentrated in the South and West, while the Midwest remained flat and the Northeast experienced a decline.

The details

The current market is shaped by reduced buyer qualification due to recent mortgage rate hikes, which has slowed overall activity. Consequently, inventory levels and the number of days homes stay on the market have both increased. These conditions are forcing sellers to become more competitive, leading to a rise in price discounts and financial incentives to attract buyers.

August 2026 saw the lowest home sales volume for the year.
September 2026 recorded a 1.5% monthly increase in sales volume.
October 2026 marks the publication of this sales report.

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Sept. 28
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Sept. 23
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The Home Front

This decline in sales volume follows a documented trend of tightening affordability tied to current mortgage rate shifts. The market is currently resetting as buyers and sellers react to these higher financing costs relative to historical norms.

If you are house hunting, keep an eye out for properties that have been on the market for longer periods, as sellers may be more open to negotiation or concessions. Consult with a licensed real estate professional to understand how local incentives and current rates specifically affect your purchasing power.

The takeaway

The market is favoring buyers who can navigate current mortgage rates, as evidenced by the increase in concessions and time-on-market. If you are looking to sell, monitor the average days-on-market for comparable homes in your immediate area to set realistic pricing expectations.