US Home Sales Rose in September, but Slowed From a Year Earlier as Mortgage Rates, Prices Rose
NAR said the median sales price hit a September record of $417,500 as unsold inventory rose 1.9% and buyers faced higher borrowing costs.
- On Tuesday, the National Association of Realtors reported existing home sales rose 1.5% last month to a seasonally adjusted annual rate of 3.99 million units, slightly exceeding economist expectations.
- The average 30-year mortgage rate hit 7.4% last week, its highest level in nearly three years, as economic pressure from the war between the U.S. and Iran since late February has constrained borrowing.
- Unsold home inventory climbed 1.9% last month to 1.6 million units, translating to a 4.8-month supply, while the median sales price increased 1.3% to $417,500, an all-time high for September.
- Sales fell 2.2% compared with September last year as the market remains stalled. "This is a very tough market out there, especially with mortgage rates rising," said Lawrence Yun, NAR's chief economist.
- Home prices have risen annually for 39 months in a row, though the sales pace remained below 4 million for a second consecutive month, far short of the 5.2-million historic norm.
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U.S. Home Sales Rise Slightly in September as Mortgage Rates Hit Nearly Three-Year High
Existing-home sales increased 1.5% in September, but borrowing costs reaching 7.4% and weakening buyer demand threaten to reverse the modest recovery despite growing housing inventory. The post U.S. Home Sales Rise Slightly in September as Mortgage Rates Hit Nearly Three-Year High first appeared on [your]NEWS.
MONEY & BUSINESS: US home sales rose in September, but slowed from a year earlier as mortgage rates, prices rose – One America News Network
By ALEX VEIGAUpdated 7:31 AM PDT, October 13, 2026 For sale sign is seen outside of a home in Arlington Heights, Ill., Wednesday, Sept. 16, 2026. (AP Photo/Nam Y. Huh, File) Sales of previously occupied U.S. homes rose in September from the previous month, but slowed compared to a year ago, the latest sign the housing market remains stalled as rising mortgage rates and home prices discourage prospective homebuyers. Existing home sales rose 1.5% …
According to the NAR report, the price of housing also increased by 1.3%, placing the average cost at $417,500 dollars
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