September 2026 housing inventory reached 1.60 million homes with a 4.8-month supply, median prices rose 1.3% to $417,500, and 30-year mortgage rates held at 7.4%.
In September 2026, the U.S. housing market recorded 1.60 million existing homes for sale, a 4.8-month supply according to the National Association of REALTORS®. This figure marked a 1.9% increase from August and a 4.6% rise compared with September 2025. Redfin data shows a slightly lower count of 1,510,784 homes listed, up 1.7% year-over-year and representing roughly four months of supply.
Existing-home sales posted a seasonally adjusted annual rate of 3.99 million in September, up 1.5% month-over-month yet down 2.2% from the same period last year. The median existing-home price reached $417,500, a 1.3% increase from September 2025. Builders continued to offer incentives—60% provided mortgage-rate buydowns or closing-cost assistance—while one-third reported average price cuts of 5%.
Live FRED data as of October 15, 2026, placed the 30-year fixed mortgage rate at 7.4%, the 15-year fixed at 6.71%, and the 10-year Treasury yield at 5.1%, producing a 2.3-percentage-point spread. These elevated rates continue to weigh on affordability, keeping many prospective buyers on the sidelines.
Redfin’s ranking of the ten metros with the fastest-growing sales prices highlights markets where inventory remains tightest. While specific city-level inventory figures are not yet released, the national 4.8-month supply suggests that even high-growth metros are unlikely to exceed six months of inventory, preserving upward pressure on prices.
New listings totaled 381,191 in September, down from the prior month. Combined with steady absorption, the modest inventory gains have not yet translated into a balanced market. A 4.8-month supply remains below the six-month threshold typically associated with price stability.
| Metric | September 2026 | Change vs. Prior Month | Change vs. Year Ago |
|---|---|---|---|
| Existing homes for sale | 1,600,000 | +1.9% | +4.6% |
| Months of supply | 4.8 | Steady | +0.3 months |
| Median existing-home price | $417,500 | — | +1.3% |
| Existing-home sales (SAAR) | 3.99 million | +1.5% | –2.2% |
Housing inventory 2026 remains constrained. With 1.60 million homes listed and a 4.8-month supply, buyers face limited choices while sellers benefit from modest price gains. Readers can run live scenarios at HomeRates.ai to model how current 7.4% mortgage rates interact with local inventory levels.
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