Existing-home sales rose 1.5% in September while higher inventory improved buyers' negotiating position.
By the numbers: September existing-home sales rose 1.5% from August to a seasonally adjusted annual rate of 3.99 million, according to the National Association of Realtors.
- Inventory climbed to 1.60 million homes and prices were 1.3% higher than a year earlier. Sales increased in the South and West, held steady in the Midwest and declined in the Northeast.
- Year-over-year sales fell in all four regions. August and September were the two slowest months of 2026, NAR chief economist Lawrence Yun said.
Yes, but: Recent mortgage-rate increases mean fewer buyers can qualify, Yun said. Sales have remained near a 4 million annual pace since 2023, compared with a historical norm closer to 5.2 million, according to AP.
The bottom line: More listings and longer market times give qualified buyers room to negotiate. Yun said sellers may need price discounts or other incentives to attract offers under current local conditions.
- Buyers should compare the monthly payment at today's rate before bidding and ask for seller concessions where a listing has lingered. Sellers should price against recent local closings rather than last year's peak expectations.
What's next: NAR will release October existing-home sales on Thursday, Nov. 12, at 10 a.m. Eastern.
Why it matters: The national market remains slow, but 1.60 million available homes shifts some leverage from sellers to buyers who can clear today's financing hurdle.
