Existing-home sales fell in October, missing already pessimistic estimates. 

Sales fell 5.5% month over month and 8.8% year over year to a seasonally adjusted annual rate of 3.75 million, the National Association of REALTORS® said in its monthly report. The consensus estimate was a rate of 3.87 million, down from 3.99 million in September. 

“Home buying is difficult when mortgage rates have climbed to their highest levels since 2000, aside from a single month in 2023. As a result, home sales fell to their lowest level since August 2010,” said NAR Chief Economist Lawrence Yun. 

The average 30-year fixed-rate mortgage was 7.33% in October,  up from 6.86% in September and 6.25% in October 2025, according to Freddie Mac. 

Regionally, sales declined in all four regions year over year, while they were down month over month in the Midwest, South and West and roughly flat in the Northeast.  

The median sales price rose 0.4% on an annual basis to $414,900, and inventory climbed 4.6% to 1.59 million homes. 

“For buyers, the monthly payment is often the biggest obstacle,” Dallas-based REMAX DFW Associates agent Todd Luong said. “It is not just the price of the house. Buyers also have to consider property taxes, homeowners insurance, mortgage payments, maintenance and other expenses. … A buyer might qualify for a mortgage on paper but decide that the total monthly cost is simply too much.”