Updated October 2026. What the latest public numbers say about a slowing housing market, with NAR, Freddie Mac and Census figures read October 29, 2026, and what they mean if you’re buying or selling.
Yes, the housing market is slower, but it hasn’t stalled. NAR’s report of October 13, 2026 put September existing-home sales at a 3.99 million annual pace, down 2.2% from a year earlier, and called August and September the two slowest months of 2026. Prices still rose: the median was $417,500, up 1.3%.
Jump to: 📊 The numbers · 💲 Rates · 🏠 New homes · 🪜 For sellers · 🤝 For buyers · ❓ FAQ
Key takeaways
- Existing-home sales ran at 3.99 million a year in September 2026, 2.2% below September 2025 (NAR, October 13, 2026).
- Inventory reached 1.60 million homes, a 4.8-month supply, and homes took a median 33 days to sell.
- The 30-year fixed rate averaged 7.24% on October 29, 2026, against 6.17% a year earlier (Freddie Mac).
- Slower sales haven’t meant falling prices nationally: the median rose for a 39th straight month.
How much has the housing market slowed?
“Slowing” means fewer sales, not cheaper homes. That’s the key thing to get right before you change any plan. Here are the September 2026 figures from the National Association of Realtors, released October 13, 2026.
| Measure (September 2026) | Figure | Change |
|---|---|---|
| Existing-home sales, annual pace | 3.99 million | +1.5% vs August, -2.2% vs Sept 2025 |
| Homes for sale | 1.60 million | +4.6% vs Sept 2025 |
| Months of supply | 4.8 | Up from 4.5 a year ago |
| Median existing-home price | $417,500 | +1.3% vs Sept 2025 |
| Median time on market | 33 days | Up from 31 days in August |
| Cash sales | 27% | Down from 30% a year ago |
Read it this way. There are more homes to choose from, each one sits a little longer, and buyers who need a loan are fewer. NAR’s chief economist said higher inventory and longer days on market give buyers more negotiating power, and that sellers may need to offer price cuts or other incentives.
The picture isn’t the same everywhere. Year over year, sales fell in all four regions, but prices split. The Northeast median rose 4.7% to $523,600. The West slipped 0.3% to $613,600, with sales down 5.2%. The South, where most sales happen, was nearly flat at $361,000.
Why are mortgage rates slowing the market down?
Because the monthly payment decides who can buy. Freddie Mac’s weekly survey put the 30-year fixed rate at 7.24% on October 29, 2026. That’s down from 7.32% the week before, but well above the 6.17% of a year earlier. NAR’s report noted September’s average was 6.86%, up from 6.67% in August.
Each step up in mortgage rates trims what a buyer can borrow on the same income. NAR’s affordability index fell to 105.4 from 106.7 a year earlier. Fewer approved buyers means fewer offers per home, and that’s what you feel as a slower market.
Rates do move both ways. When they dipped in past cycles, coverage like CNBC Select’s piece on how falling rates make a mortgage loan cheaper showed how quickly demand can come back. Nobody can promise when that happens, so plan with today’s rate and treat a drop as a bonus.
Are new home sales slowing too?
Yes, a bit. The Census Bureau’s release of October 27, 2026 put September new single-family home sales at a 676,000 annual pace. That’s 0.6% below August and 5.3% below September 2025. Builders had 476,000 homes for sale, an 8.4-month supply.
New homes got cheaper on paper. The median new-home price was $400,400, 3.9% below a year earlier. That puts it under the $417,500 median for existing homes. Builders can cut prices or pay for rate buydowns, so a resale seller near new construction competes with those offers.
One caution: Census counts new sales at contract, while NAR counts existing sales at closing. The two series can move in different directions in the same month, as NAR’s own notes point out.
What should sellers do in a slower market?
Price for the market you have, not the one from two years ago. Start with recent closed sales near you. Our free home value calculator gives you a range, and our guide to a comparative market analysis shows how to check it yourself.
Then make the home easy to say yes to. Buyers have more choice, so small flaws cost more. Fix what an inspector would flag, clean everything, and get the outside right. A tidy yard is cheap; our tips on how to reach a better market value through the lawn are a good start. If you have a patio, a few good pieces from one of the top patio furniture companies can make photos of the outdoor space look like a second living room.
Watch your costs, too. In a slower market, every dollar you don’t spend on selling stays in your pocket. A flat fee MLS listing with Beycome starts at $99, with $0 due to Beycome at closing, and puts your home on the major home search sites and the MLS. Beycome has helped 22,000+ homeowners and they’ve saved over $225 million (Beycome internal data, October 2026).
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On homes listed by other agents, Beycome credits you up to 2% of the price at closing (1% kept, $1,499 minimum; not on FSBO homes or homes listed by Beycome sellers).
Buy a home →Our longer guide on selling your home quickly in a slow market goes deeper on pricing cuts, credits and timing.
Is a slower market good for buyers?
It can be. More homes for sale and 33 days on the market mean you can take your time, ask for repairs or credits, and walk away from a bad fit. First-time buyers made up 31% of September sales, up from 30% a year earlier, so some of them are already using that room.
The catch is the rate. Get pre-approved before you shop so you know your real budget at today’s rate. Then compare the full cost: price, rate, points, closing costs and any seller credit. Our step-by-step guide to buying a house walks through it.
Beycome’s buyer program can also lower your cost. It’s open to every buyer on homes listed by other agents. There’s no upfront fee. Beycome keeps 1% of the price (minimum $1,499) and credits the rest of the buyer-agent commission offered to you at closing, with your lender’s approval. On a $400,000 home where the seller offers 3%, that’s $8,000 back. The credit can’t apply where no buyer-agent commission is offered, like most FSBO homes, or on homes listed by Beycome sellers.
That 3% is only an example. Commissions are not set by law or NAR rules and are fully negotiable; sellers choose whether to offer buyer-agent compensation, and since August 17, 2024 such offers can’t be shown on the MLS.
Housing market slowdown: questions
Is the housing market slowing down in 2026?
Yes. NAR reported September 2026 existing-home sales at a 3.99 million annual pace, 2.2% below a year earlier, and said August and September were the slowest months of the year.
Are home prices dropping?
Not nationally. The September 2026 median existing-home price was $417,500, up 1.3% from a year earlier and the 39th straight yearly gain. Some regions are flat or slightly down, like the West at -0.3%.
What are mortgage rates right now?
Freddie Mac’s survey put the 30-year fixed rate at 7.24% on October 29, 2026, down from 7.32% a week earlier and up from 6.17% a year earlier.
How long are homes taking to sell?
A median of 33 days in September 2026, up from 31 days in August, according to NAR’s Realtors Confidence Index.
Should I wait to sell my house?
It depends on your timeline and local prices, not the national headline. If you need to move, pricing to current sales and keeping selling costs low usually matters more than waiting for rates to fall.
Is it a good time to buy a house?
Buyers have more choice and more time than a year ago, with a 4.8-month supply in September 2026. Higher rates raise the monthly cost, so get pre-approved and compare the full cost before you offer.
Market figures are dated in the text and come from the sources below; they’re national unless stated and won’t match every local market.
Prices as of November 2026: Basic $99, Enhanced $399, Concierge $1,399; Basic is $129 in California and Illinois. “$0 at closing” means no Beycome fee at closing; other closing costs, taxes, title fees and any buyer-agent compensation you agree to still apply. Beycome lists in 17 states and DC.
Buyer credit: no upfront fee; Beycome keeps 1% of the price (minimum $1,499); the rest of the buyer-agent commission offered is credited at closing with lender approval; it doesn’t apply to FSBO homes or homes listed by Beycome sellers. Commission figures are examples only: not set by law or NAR rules, negotiable, and not shown on the MLS since August 17, 2024. General information, not financial advice.
Sources
- NAR, Existing-Home Sales Increased 1.5% in September (October 13, 2026), read October 29, 2026.
- Freddie Mac, Primary Mortgage Market Survey (October 29, 2026), read October 29, 2026.
- U.S. Census Bureau and HUD, New Residential Sales, September 2026 (October 27, 2026), read October 29, 2026.
- Beycome, listing package features, October 2026.
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