Home sales fall to lowest level in 16 years — lowest since the subprime crisis era

Home sales declined in October to their lowest level since 2010, after spending the last four years hovering at low levels. 

Sales of existing homes fell 5.5% during October, to a seasonally adjusted annual rate of 8.8%, the National Association of Realtors said Thursday. 

Total house inventory was 1.59 million units, up from 1.3% from September and 4.6% from October 2025. The unsold inventory, according to NAR, represented a 5.1-month supply, which was up 4.7 months in September and up from 4.4 months in October 2025. 

The median existing-home price for all housing types was $416,700, an increase of 0.4% from one year ago. This makes it the 40th consecutive month of year-over-year price increases. 

“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,” NAR Chief Economist Lawrence Yun said in a statement.