From Straight Arrow · · 1m 20s
Home sales see modest gains, but soaring mortgage rates cloud the outlook
U.S. home sales rise slightly as mortgage rates surge, threatening housing market.
In brief
U.S. home sales rise slightly as mortgage rates surge, threatening housing market. U.S. home sales rose 1.5% from August to September but remain 2.2% below September 2025 levels amid soaring mortgage rates. Originally reported by Straight Arrow.
September home sales rise
U.S. home sales edged higher in September, rising 1.5% from August to September to a seasonally adjusted annualized rate of 3.99 million.
Year-over-year sales decline
Existing-home sales remain 2.2% lower than in September 2025, marking a continued slowdown in the housing market.
Median home price climbs
The median existing-home price climbed 1.3% from a year ago to $417,500, marking the 39th consecutive month of annual price gains.
Inventory rises
Inventory climbed 4.6% from a year earlier to 1.6 million homes, giving buyers more choices and bargaining power.
NAR chief economist warns
NAR’s chief economist, Lawrence Yun, said home sellers need to be realistic about local market conditions and may require price discounts to attract buyers.
Mortgage rates surge
The 30-year fixed-rate mortgage averaged 7.40% last Thursday, up from 7.28% a week earlier and well above the 6.30% average of a year earlier.
Mortgage rates threaten sales
Higher mortgage rates could chill the housing market, with home sales likely to fall further in the months ahead.
The short version
U.S. home sales rose 1.5% from August to September but remain 2.2% below September 2025 levels amid soaring mortgage rates.
