U.S. Existing-Home Sales Fall to Lowest Level Since August 2010 as Mortgage Rates Stay Above 7 Percent
What happened
U.S. existing-home sales dropped 5.5% month-over-month in October 2026 to an annualized pace of 3.75 million units, marking the slowest transaction rate since August 2010.
The Context
- Borrowing costs remain restrictive, with mortgage rates holding above 7% and keeping buyer affordability strained nationwide.
- Supply is steadily rebuilding, as active inventory climbed 1.3% to 1.59 million units, pushing market depth to 5.1 months—the highest level since November 2015.
- Prices refuse to break down, with the national median price edging up 0.4% year-over-year to $416,700 despite sharp regional transaction drops, led by a 9.7% slide in the West.
The Number
The seasonally adjusted annual sales rate recorded in October 2026, putting full-year transaction volumes on track to challenge lows last seen in 1995.
Takeaway
While buyer demand stays paused under elevated borrowing costs, growing inventory levels signal that pricing leverage is slowly migrating back toward patient capital.
Business, investment, entrepreneurship, leadership, and innovation.
"Forbes is known for its coverage of business leaders, market trends, and entrepreneurial ventures with a pro-business editorial stance."
— A47 Editor
U.S. Home Sales Sink To Lowest Level Since 2010, Report Says
U.S. home sales fell nearly 6% from September to October, according to a Forbes report, with month-over-month declines recorded in the Midwest, South and West and the total reaching its lowest level since 2010.
Public radio coverage of American news and issues.
"NPR is an American public media organization known for thoughtful reporting and a slightly left-leaning editorial tone."
— A47 Editor
'Punch in the gut': Homes sales fall to their lowest in 16 years
Existing home sales in October fell 8.8% from a year earlier, marking the lowest level in 16 years, according to the National Association of Realtors and reported by NPR. The decline was described as a "punch in the gut" for the housing market, with ...
Editor-curated FT homepage stories spanning markets, business, world, and opinion.
"The Financial Times is a globally respected business publication with a centrist/center-left tone and strong markets focus."
— A47 Editor
US home sales fall to lowest level since 2010 as mortgage rates soar
US existing home sales fell to their lowest level since 2010 as mortgage rates climbed, deepening a housing market slump as higher borrowing costs weighed on transactions, according to reporting on the sales data.
Key macro releases (CPI, jobs, PMIs), surprise indexes, and market implications.
"Great for data-print awareness and instant read-through to rates and risk assets."
— A47 Editor
US labor market resilient; existing home sales hit more than 16-year low in October
US existing home sales fell to their weakest level in more than 16 years in October, according to Investing.com, while the broader US labor market was described as resilient in the same reporting window. The base coverage carries a neutral tone and d...
UK and international business news, economics, and corporate coverage.
"The Guardian’s business section covers finance and markets with a progressive editorial tone."
— A47 Editor
Home sales hit 16-year low in October amid record-high mortgage rates
US existing home sales fell to a 16-year low in October as buyers were discouraged by record-high mortgage rates and rising inflation, according to data released by the National Association of Realtors. Sales of already built units dropped to 3.75 mi...
News from the United States including domestic politics, society, and culture.
"The Guardian is known for its progressive editorial stance and in-depth analysis, often advocating for social justice, environmental issues, and liberal values."
— A47 Editor
Home sales hit 16-year low in October amid record-high mortgage rates
US existing home sales fell to a 16-year low in October as buyers were discouraged by record-high mortgage rates and rising inflation, according to data released by the National Association of Realtors. Sales of already built units dropped to 3.75 mi...