Data Analysis

The National Association of Realtors reported existing-home sales at a seasonally adjusted annual rate of 3.99 million for September 2026, up 1.5 percent from August and down 2.2 percent from a year earlier.

The median existing-home price was $417,500 in September 2026, up 1.3 percent from a year earlier, and inventory stood at 1.60 million homes, or 4.8 months of supply. In the South, the region that includes Florida, sales rose 2.8 percent from August and slipped 0.5 percent from September 2025.

The National Association of Realtors reported on October 13, 2026 that existing-home sales ran at a seasonally adjusted annual rate of 3.99 million in September 2026, up 1.5 percent from August and down 2.2 percent from September 2025. The median existing-home price was $417,500, up 1.3 percent from a year earlier, a 39th straight annual gain. Inventory was 1.60 million homes, or 4.8 months of supply. In the South, the region that includes Florida, sales rose 2.8 percent from August to a 1.86 million annual rate, down 0.5 percent from a year earlier, with a $361,000 median price.

How many existing homes sold in September 2026?

NAR counts completed transactions of single-family homes, townhomes, condominiums and co-ops, then seasonally adjusts the total and expresses it as an annual rate. On that basis, September 2026 came in at 3.99 million. August 2026 was revised to 3.93 million, so the monthly gain of 1.5 percent is measured against the revised figure. September 2025 was 4.08 million, which is the base for the 2.2 percent annual decline.

Both of the past two months sit below every other month of 2026. NAR Chief Economist Lawrence Yun said in the release that "August and September marked the two slowest months for home sales this year." The series peaked for the year in May at 4.19 million, according to the NAR data published through FRED, and has fallen in three of the four months since.

Single-family sales accounted for most of the September gain. NAR put single-family existing-home sales at an annual rate of 3.64 million in September 2026, up 2.0 percent from August and down 1.9 percent from a year earlier. Condominium and co-op sales ran at 350,000, down 2.8 percent from August and 5.4 percent from September 2025. The condo segment carries more weight in Florida than in most states; this desk's state-level coverage is on the Florida news hub.

What happened to home prices in September 2026?

The national median existing-home price was $417,500 in September 2026, 1.3 percent above the $412,300 median NAR reported for September 2025. NAR described this as the 39th consecutive month of year-over-year gains.

By property type, the single-family median was $422,700 in September 2026, up 1.2 percent from a year earlier. The condo and co-op median was $363,700, also up 1.2 percent.

Regional medians diverged. The Northeast median was $523,600, up 4.7 percent from September 2025. The Midwest median was $329,600, up 3.1 percent. The South median was $361,000, up 0.2 percent. The West median was $613,600, down 0.3 percent. The South's near-flat reading is the closest NAR comes to a Florida price figure in this release, since NAR does not break out individual states in the monthly report.

Is housing inventory still rising?

Yes, though the pace slowed. NAR reported total housing inventory of 1.60 million units at the end of September 2026, up 1.9 percent from August and 4.6 percent from September 2025. At the September sales pace that equals 4.8 months of supply, unchanged from August and up from 4.5 months a year earlier.

Homes took longer to sell. The median time on market for properties that sold in September 2026 was 33 days, up from 31 days in August and even with September 2025. Yun said in the release that "higher inventory and lengthening days on market give buyers improved negotiating power," and that "home sellers need to be realistic about local market conditions," which "could require price discounts and other incentives to attract buyers."

Who was buying in September 2026?

First-time buyers made up 31 percent of September 2026 purchases, according to NAR, up from 30 percent in August and 30 percent in September 2025. All-cash purchases were 27 percent of sales, unchanged from August and down from 30 percent a year earlier. Individual investors and second-home buyers accounted for 20 percent of purchases in September 2026, up sharply from 15 percent in August and 15 percent a year earlier. Distressed sales, meaning foreclosures and short sales, were 2 percent of transactions, the same share as in August and in September 2025.

The investor share is the largest single-month move in the release. NAR offered no explanation in the text, and one month of survey data is not a trend.

What did mortgage rates do?

NAR cited Freddie Mac's Primary Mortgage Market Survey, which averaged 6.86 percent for the 30-year fixed rate in September 2026. That compares with 6.67 percent in August 2026 and 6.35 percent in September 2025. Yun said that "further increases in mortgage rates in recent weeks mean fewer buyers can qualify to purchase a home."

NAR's Housing Affordability Index was 105.4, down from 106.7 a year earlier. Affordability fell 0.4 percent year over year in the South, the smallest decline among the three regions that worsened; the West improved 1.0 percent.

What does the September report mean for Florida?

NAR's monthly release reports the South as a single region covering 16 states and the District of Columbia, and Florida is the largest housing market in it. The South's annual sales rate of 1.86 million in September 2026 was up 2.8 percent from August, the joint-largest monthly gain of any region alongside the West, and down 0.5 percent from a year earlier, the smallest annual decline of the four regions. The South's median price of $361,000 was up 0.2 percent from September 2025, the weakest price growth of any region with a positive reading.

Florida-specific September figures arrive later this week. Florida Realtors is scheduled to publish its September 2026 and third-quarter market reports on Friday, October 16, and this desk will cover them the same day. Readers who want current county and ZIP-level data in the meantime can use the Momentum Intelligence Platform and the Florida housing tracker.

NAR's 5.4 percent annual drop in condo and co-op sales is a national figure, and NAR publishes no Florida condo count in this release, so it cannot be read as a Florida number. It does run in the same direction as the state-level condo softness this desk has tracked through 2026.

What comes next?

NAR's schedule lists the September 2026 Pending Home Sales Index for Tuesday, October 20, at 10:00 a.m. ET, and the October 2026 existing-home sales report for Thursday, November 12, at 10:00 a.m. ET. Pending sales lead closings by one to two months, so October 20 is the first read on whether September's gain carries into the fourth quarter.

Limitations

NAR's existing-home sales figures are seasonally adjusted annual rates built from a sample of multiple listing service data and are subject to revision in the following month's release. August 2026 was revised from the 3.98 million first reported to 3.93 million, and September's 3.99 million will likely be revised in the November 12 report. The 2.2 percent annual decline is NAR's own figure; the September 2025 level of 4.08 million is taken from the NAR series published through FRED.

Buyer-share figures for first-time buyers, cash purchases, investors and distressed sales come from NAR's monthly Realtors Confidence Index survey of members, not from recorded transactions, and carry survey error that NAR does not quantify in the release. Regional figures are reported with one decimal of precision and no stated margin of error. The South region spans 16 states and the District of Columbia, so its figures describe Florida only indirectly. The chart above uses the 13 months of the NAR series that FRED makes publicly available; NAR licenses the longer history and this desk does not reproduce it.

Sources

• National Association of Realtors, "Existing-Home Sales Increased 1.5% in September, According to NAR Report," news release, October 13, 2026. https://www.nar.realtor/newsroom/existing-home-sales-increased-1-5-in-september-according-to-nar-report
• National Association of Realtors, Existing-Home Sales summary and supplemental data for September 2026, published October 13, 2026. https://www.nar.realtor/research-and-statistics/housing-statistics/existing-home-sales
• National Association of Realtors, 2026 Statistical News Release Schedule. https://www.nar.realtor/newsroom/nar-statistical-news-release-schedule
• Federal Reserve Bank of St. Louis, FRED series EXHOSLUSM495S, Existing Home Sales (source: National Association of Realtors), updated October 13, 2026. https://fred.stlouisfed.org/series/EXHOSLUSM495S

Disclosure: Jon Brooks is a co-founder of Momentum Realty, a Florida real estate brokerage that owns and funds Florida Housing Intelligence. Momentum has a financial interest in Florida real estate transactions, including in markets named here. See our editorial standards.