Price reductions reached a September high in the U.S. housing market as mortgage rates moved above 7% and buyers remained cautious, according to Realtor.com’s September 2026 housing trends report.
The report, released for the September data period, found that 20.8% of active listings had a price reduction. That was 0.9 percentage point higher than in September 2025 and 3.4 points above September 2019. Realtor.com said the share was the highest for any September in its data series, which begins in 2016.
More listings, but fewer contracts
Active inventory reached 1,161,615 homes in September, up 5.4% from a year earlier and 1.9% from August. Even with that increase, the national supply of active listings remained 5.2% below September 2019.
New listings totaled 394,830, down 0.7% from a year earlier. The median home spent 61 days on the market, one day faster than in September 2025 but 14 days longer than in September 2022.
Contract signings—homes entering pending status for the first time during the month—fell 4.1% from a year earlier, according to the report. Realtor.com distinguishes this flow measure from the total stock of homes already under contract.
Listing prices moved lower
The national median listing price was $419,250, down 1.4% from September 2025 and 1.2% from August. It remained 34.2% above September 2019. Those are listing-price measures, not final sale prices, and the data include existing single-family homes, condos, townhomes, row homes and co-ops listed through Realtor.com.
Realtor.com linked the softer demand to mortgage rates crossing 7% for the first time in about 20 months. That is the research group’s interpretation of the market data, not proof that rate changes alone caused every movement in listings or contracts. Local supply, income, insurance costs and regional job conditions can also shape housing activity.
For homeowners following local tax rules as well as national market conditions, AskNovus has also reported on New York City’s court-ordered second-home tax notices.
This article reports market data and is not personalized financial, mortgage or investment advice.
Featured image: Bruce Barrow/Unsplash. The photograph is illustrative.
Sources
- Realtor.com September 2026 Housing Trends Report, accessed October 1, 2026
- Fox Business report, published September 30, 2026