September 2026 Existing-Home Sales: What 3.99 Million Means Heading Into Winter

Sales of previously owned U.S. homes rose 1.5% in September 2026 to a seasonally adjusted annual rate of 3.99 million, the National Association of Realtors reported on Oct. 13, 2026. The gain was small, and it came on top of a weak base: sales were still 2.2% lower than in September 2025, and NAR Chief Economist Lawrence Yun said August and September were the two slowest months for home sales this year.

The rest of the report tells a more useful story for anyone planning a move this winter. Prices are still inching up, inventory keeps building, homes are taking longer to sell, and mortgage rates climbed through the month. Each of those pulls buyers and sellers in a different direction.

The September 2026 numbers at a glance

All figures below come from NAR's September 2026 existing-home sales release. Existing-home sales count closed transactions of single-family homes, townhomes, condos and co-ops.

The September median marked the 39th straight month of year-over-year price gains, according to NAR. A 1.3% annual increase is modest, though, and the West's median slipped below its year-earlier level.

Where sales rose and where they fell

The national total hides a split across the country. Compared with August, sales rose in the South and West, held flat in the Midwest and dropped in the Northeast. Compared with September 2025, all four regions were down.

• Northeast: 470,000 annual pace, down 2.1% from August and 4.1% from a year earlier. The median price was $523,600, up 4.7% year over year, the strongest price growth of any region.
• Midwest: 930,000 annual pace, unchanged from August and down 2.1% from a year earlier. The median price was $329,600, up 3.1%.
• South: 1.86 million annual pace, up 2.8% from August and down 0.5% from a year earlier. The median price was $361,000, up just 0.2%.
• West: 730,000 annual pace, up 2.8% from August but down 5.2% from a year earlier, the steepest annual drop. The median price was $613,600, down 0.3% from September 2025, making the West the only region where prices fell.

The two regions with the highest sales volume, the South and the West, also had the weakest price growth. In the Northeast and Midwest, prices kept rising at a faster clip even as sales slipped, a sign that supply there remains tighter relative to demand.

Single-family homes versus condos

Single-family sales rose 2.0% from August to a 3.64 million pace, with a median price of $422,700 (up 1.2% year over year). Condo and co-op sales went the other way, falling 2.8% to a 350,000 pace and sitting 5.4% below September 2025. The condo median was $363,700, also up 1.2%. Condo buyers also carry association dues on top of the mortgage payment, which weighs more heavily on qualifying when rates rise.

Mortgage rates are doing most of the damage

NAR's release, citing Freddie Mac, put the average 30-year fixed rate at 6.86% in September 2026, up from 6.67% in August and 6.35% a year earlier. Rates kept climbing after that. Freddie Mac's weekly survey showed the 30-year average crossing 7% in the Sept. 24 reading and staying above that level through the Oct. 22 reading, with a peak of 7.40% on Oct. 8 and Oct. 15.

Yun pointed directly at rates, saying further increases in recent weeks mean fewer buyers can qualify to purchase a home. NAR's Housing Affordability Index registered 105.4 in September, down from 106.7 a year earlier, with affordability worse year over year in the Northeast, Midwest and South and slightly better in the West, where prices slipped.

Because existing-home sales are counted at closing, and NAR notes that contracts typically lead closings by a month or two, many of September's sales were locked in before the latest jump in rates. October and November closings will reflect contracts written at higher rates, which is worth keeping in mind before reading too much into one month's gain.

What the numbers mean for buyers heading into winter

For buyers who can qualify at today's rates, the data points to more leverage than at any point in the past few years.

• More choice. At 1.60 million units and 4.8 months of supply, inventory is higher than a year ago, when supply stood at 4.5 months.
• More time. A 33-day median time on market gives buyers room to compare homes, schedule inspections and avoid rushed decisions.
• Room to negotiate. Yun said higher inventory and longer days on market give buyers improved negotiating power, and that sellers may need price discounts and other incentives to attract buyers. Seller-paid closing costs or a rate buydown can sometimes do more for a buyer's monthly payment than a small price cut.
• Less cash competition. All-cash deals fell to 27% of sales from 30% a year earlier, so financed buyers face fewer cash offers than they did in 2025.

The flip side: individual investors and second-home buyers jumped to 20% of sales from 15% in August. Buyers shopping in vacation and retirement areas may run into more of that competition than the national cash figure suggests.

Buyers who are still running numbers on rates can find a closer look at what late-2026 rates mean for monthly payments in this late-2026 mortgage rate outlook.

What the numbers mean for sellers

Sellers are still getting slightly higher prices than a year ago in most of the country, but the market has shifted away from the quick, multiple-offer sales of 2021 and 2022.

1. Price to the current market, not last spring's. Fall and winter typically bring fewer shoppers. A listing that starts too high can sit past the 33-day median and end up selling for less after reductions.
2. Expect to offer concessions. With the buyer pool shrinking as rates rise, credits toward closing costs or a rate buydown can widen the pool of buyers who can qualify.
3. Know the local trend. Regional medians ranged from a 0.3% decline in the West to a 4.7% gain in the Northeast. Local prices, days on market and competing listings matter more than the national headline.
4. Prepare the home before listing. With more homes to choose from, buyers skip listings that need obvious repairs. A pre-listing inspection can surface problems before they become a negotiating point.

What to watch next

NAR is scheduled to release October 2026 existing-home sales on Nov. 12, 2026. It will show how many deals closed as rates sat above 7% in October. The key figures to watch are whether the sales pace stays near 4 million, whether months' supply climbs further, and whether the West's small price decline spreads to other regions.

For buyers and sellers following how these national trends play out in Southern Nevada, more local market coverage is available at Homes For Sale In Mesquite Nevada.