What did existing home sales look like in October 2026?

More homes were available for buyers to choose from in October than in the month before, a report released today by the National Association of REALTORS® (NAR) said.

Existing home sales, which the NAR defines as completed transactions for properties that include single-family homes, townhomes, condominiums and co-ops, dropped by as much as 5.5% from September in three of four regions across the nation.

“Homebuying is difficult when mortgage rates have climbed to their highest levels since 2000, aside from a single month in 2023,” NAR Chief Economist Lawrence Yun said.

However, the NAR did express some confidence that sales could pick up soon.

“Despite fewer transactions in October, the 88 million homeowners across the country are largely in a comfortable financial position due to sizable housing wealth accumulation,” Yun said. “Based on the current underwhelming home sales pace at a time of consistent job growth, there could be sizable pent-up demand if mortgage rates decline.”

Current homeowners, whether seasoned or recent, may have seen their home values increase in October. The NAR reported that October was the 40th consecutive month that median home prices have increased, with the median existing-home price for all housing types hitting $416,700.

Total homes for sale at the end of October were 1.59 million units, up 1.3% from September and up 4.6% from October 2025. With the amount of homes on the market increasing, it may be the right time for potential buyers to start searching for their dream homes.

With median home values increasing across the country, it may be a good time for homeowners to consider accessing their current home’s value without selling through a HELOC.

Which regions showed changes in existing home sales?

Three of the four regions the NAR tracks in the U.S. showed drops in sales of existing homes in October compared to the previous month, the NAR said.

• Completed transactions in the Northeast were unchanged from the previous month.
• In the Midwest, existing home sales slipped 3.2% compared to a month earlier.

• The South saw a decline of 6.5% in existing home sales from September.

• Sales of existing homes in the West slid 9.7% in October compared to the previous month.

October traditionally marks the heart of the fall homebuying season. Because summer tends to see the largest number of homes on the market, it can also be the easiest time of the year to move. With fewer buyers in the market and colder weather making moving more challenging, home prices tend to dip in fall and winter, making sellers more willing to negotiate.

If you are looking to see more homes on the market and avoid potential harsh weather, fall may be a good time to consider joining the housing market before the winter weather sets in.

Did mortgage rates show any change?

According to data from Freddie Mac, the 30-year fixed-rate mortgage averaged 7.11%* as of Nov. 12. That’s a drop from 7.18% one week ago but up from 6.24% one year earlier.

A reduction in mortgage interest rates will likely be a welcome sign to prospective homebuyers. A decrease in mortgage rates could also signal a continuing thaw in the housing market as fall gets into full swing.

Are you ready to start seeing the benefits of homeownership? Apply for a mortgage pre-approval** and begin your journey toward your dream home with Rate! A pre-approval shows sellers and real estate agents that you’re a serious buyer and gives you an idea of how much of a mortgage you’re likely to get approved for.

 *National average rates from Freddie Mac as of Nov. 12, 2026, are not advertised rates from Rate.

**Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Refinancing your mortgage may increase costs over the term of your loan. Restrictions may apply.

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