US Home Sales Fall to Lowest Level Since 2010
US sales of existing homes, meaning houses that have already been built and sold before, fell to 3.75 million in October 2026, down 8.8% from a year earlier, according to the National Association of Realtors. The figure was the lowest since August 2010, according to the association's chief economist, Lawrence Yun.
The median sale price, the midpoint at which half of homes sold for more and half for less, was $416,700 in October.
Sales declined in the Midwest, the South and the West. In the Northeast, they held steady.
Mortgage costs remain a central part of the picture. The 30-year mortgage rate, the interest rate on the most common long-term home loan in the US, fell below 6% for the first time in February 2026. In November, it was hovering at about 7.18%, close to its 2023 high of 7.79%.
The Federal Reserve, the US central bank, raised its benchmark interest rates in September 2026 for the first time since 2023. The new target range is 3.75% to 4%.
Pending home sales, which count contracts signed to buy homes that have not yet closed, reached their lowest level in the association's records in September 2026.
