Real Estate

Existing-Home Sales Fall to 3.98M; Supply at Decade High

  • by- Grihik
  • Oct 1, 2026
US existing-home sales dropped 2% in August to 3.98 million, while inventory climbed and the median price hit $429,100. Full breakdown.
Existing-Home Sales Fall to 3.98M; Supply at Decade High

October 1, 2026 | Existing-home sales fell 2.0% in August to a seasonally adjusted annual rate of 3.98 million, the National Association of Realtors (NAR) reported on September 10. Sales were 1.2% lower than a year earlier and dipped below the 4 million pace for the first time since June 2025.

Key numbers

  • Median existing-home price: $429,100, up 1.6% year over year (38th straight month of annual gains)

  • Single-family median: $434,800 (+1.7% YoY)

  • Condo/co-op median: $371,600 (+1.5% YoY)

  • Total inventory: 1.62 million homes, up 5.9% from a year ago and the first time above 1.6 million since November 2019

  • Months' supply: 4.9, up from 4.6 a year earlier

Regional picture

Sales fell month over month in the Midwest (-3.1%) and the Northeast (-4%), while the West held flat.

 

 

Why it matters

NAR chief economist Lawrence Yun linked the softness to high mortgage rates, noting that rates and home sales move in opposite directions. The positive side for buyers is choice: the increase in listings gives shoppers more options and more room to negotiate. Even so, prices kept rising, though at a modest pace.

The takeaway

The market is slow, not broken. Sellers are listing more, buyers are cautious, and prices are still edging higher. Whether September sales recover will depend largely on where mortgage rates settle this month.