Summary
Existing-home sales in the United States fell to 3.75 million in October, the lowest level since August 2010. Higher mortgage rates and inflation coincided with the decline, while the median sale price edged up to $416,700.Key Facts
- October existing-home sales were down 8.8% from a year earlier.
- The median existing-home sale price rose slightly to $416,700.
- Sales fell in the Midwest, South, and West, while they held steady in the Northeast.
- The 30-year mortgage rate was about 7.18%, near its 2023 peak of 7.79%.
- Mortgage rates had fallen below 6% in February 2026 before rising again.
- Pending home sales reached a record low in September.
- The Federal Reserve raised its benchmark interest rate in September for the first time since 2023; the rate stood between 3.75% and 4%.
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