Existing-home sales rose 1.5% month over month in September to a seasonally adjusted annual rate of 3.99 million — surpassing the consensus expectation of a drop from 3.98 million to 3.96 million.  

Year over year, home sales declined 2.2%, the National Association of REALTORS® said in its monthly report. 

Total housing inventory rose 1.9% month over month and 4.6% year over year to 1.6 million homes, representing a 4.8-month supply, the same as August and up from 4.5 months a year earlier. 

The median existing-home sales price rose 1.3% year over year to $417,500. 

“Despite the small monthly gain on a seasonally adjusted basis, August and September marked the two slowest months for home sales this year,” NAR Chief Economist Lawrence Yun said. “Further increases in mortgage rates in recent weeks mean fewer buyers can qualify to purchase a home.” 

The average 30-year fixed-rate mortgage was 6.86% in September, up from 6.67% in August and 6.35% in September 2025, Freddie Mac 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,” Yun said. 

By housing type, existing single-family home sales rose 2% month over month and fell 1.9% year over year to to an annual rate of 3.64 million, while condo sales fell 2.4% month over month and 5.4% year over year to 350,000. 

Regionally, sales increased in the South and West on a monthly basis, were flat in the Midwest and decreased in the Northeast. Year-over-year sales declined in all four regions.