US existing home sales slump to more than 16-year low in October
Existing home sales in the United States plummeted in October to their lowest level in more than 16 years, reaching levels not seen since 2010. High mortgage rates continue to paralyze market activity, causing a tough environment for buyers and sellers. Although home listings piled up during the month, sellers mostly refrained from slashing their prices. The sharp contraction highlights ongoing affordability pressures across the residential real estate sector.
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- ✓ US existing home sales slumped to a more than 16-year low in October.
- ✓ Home sales fell to their lowest level since 2010 due to high mortgage rates.
- ✓ Home listings piled up in October while sellers refrained from slashing prices.
What changed
October data confirmed a dramatic drop in existing home sales, matching levels last observed in 2010.
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US existing home sales slump to more than 16-year low in October
Existing home sales in the United States plummeted in October to their lowest level in more than 16 years, reaching levels not seen since 2010. High mortgage rates continue to paralyze market activity, causing a tough environment for buyers and sellers. Although home listings piled up during the month, sellers mostly refrained from slashing their prices. The sharp contraction highlights ongoing affordability pressures across the residential real estate sector.
Why it matters
The National Association of Realtors tracks residential market metrics that reflect broader economic conditions and housing affordability. Elevated borrowing costs have kept both buyers and potential sellers on the sidelines, depressing transaction volume despite rising inventory. Pending home sales data scheduled for release on November 18 will offer further insight into whether contract activity can recover from recent historic lows.
What is confirmed
- US existing home sales slumped to a more than 16-year low in October.
- Home sales fell to their lowest level since 2010 due to high mortgage rates.
- Home listings piled up in October while sellers refrained from slashing prices.
Still unconfirmed
- US pending home sales for October 2026 might show signs of contract recovery when released on November 18.
What to watch next
- Pending home sales data release on November 18, 2026
- Further inventory and pricing adjustments by residential home sellers
confidence 95%Sources used for this update (12)
- finance.yahoo.com — Yahoo Finance - Stock Market Live, Quotes, Business & Finance News
- www.newsday.com — Newsday | Long Island's & NYC's News Source - Newsday
- nypost.com — New York Post – Breaking News, Top Headlines, Photos & Videos
- www.kob.com — Iran war's cost to American taxpayers grows to an estimated $47.1 billion
- www.nar.realtor — Research and Statistics
- WSJ — Home Sales in October Plummet to 16-Year Low
- CNBC — Home listings pile up in October, but sellers won't slash prices
- Bloomberg.com — Sales of Existing US Homes Tumble to Lowest Level Since 2010
- Yahoo Finance — 'A tough market': Home sales fall to lowest level since 2010 as high mortgage rates paralyze activity
- Yahoo Finance — US existing home sales slump to more than 16-year low in October
- admiralmarkets.com — US Pending Home Sales October 2026 Preview: Can Contracts Recover From a Record Low?
- hayspost.com — Dramatic drop in US home sales in October
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