U.S. existing-home sales rose 1.5% from August and fell 2.2% from a year earlier to a seasonally adjusted annual rate of 3.99 million in September, according to the National Association of Realtors. Sales increased in the South and West from August, held steady in the Midwest and declined in the Northeast. Compared with September 2025, sales declined in all four regions.
Total housing inventory reached 1.60 million units, up 1.9% from August and 4.6% from September 2025. Unsold homes represented 4.8 months of supply, unchanged from August and up from 4.5 months a year earlier.
The median existing-home price across all housing types was $417,500, compared with $412,300 a year earlier. The 1.3% annual increase marked the 39th consecutive month of year-over-year price gains.
The Housing Affordability Index was 105.4, down from 106.7 a year earlier. Affordability declined 4.5% in the Northeast, 3.1% in the Midwest and 0.4% in the South, while the West recorded a 1.0% increase.
The average 30-year fixed mortgage rate was 6.86% in September, up from 6.67% in August and 6.35% a year earlier. Median time on market was 33 days, up from 31 days in August and unchanged from September 2025.
“Further increases in mortgage rates in recent weeks mean fewer buyers can qualify to purchase a home,” said NAR Chief Economist Lawrence Yun.
First-time buyers represented 31% of sales, up from 30% in August and 30% a year earlier. Cash sales accounted for 27% of transactions, unchanged from August and down from 30% a year earlier. Individual investors and second-home buyers accounted for 20% of transactions, up from 15% in August and a year earlier. Distressed sales represented 2% of transactions, unchanged from both comparison periods.
Single-family home sales increased 2.0% from August to a seasonally adjusted annual rate of 3.64 million, down 1.9% from September 2025. The median price was $422,700, up 1.2% year over year. Condo and co-op sales fell 2.8% from August to an annual rate of 350,000 and were down 5.4% from a year earlier. Their median price was $363,700, up 1.2% year over year.
In the Northeast, sales fell 2.1% from August to an annual rate of 470,000 and were down 4.1% from September 2025. The median price was $523,600, up 4.7% year over year. Midwest sales were unchanged from August at an annual rate of 930,000 and fell 2.1% from a year earlier. The regional median price was $329,600, up 3.1% year over year.
South sales increased 2.8% from August to an annual rate of 1.86 million and fell 0.5% from September 2025. The median price was $361,000, up 0.2% year over year. In the West, sales increased 2.8% to an annual rate of 730,000 and fell 5.2% from a year earlier. The median price was $613,600, down 0.3% year over year.