Home Sales Crept Up To A 3.99 Million Pace In September But Still Trail Last Year While The Median Price Hit $417,500 And 27% Of Sales Were All Cash

If you have been watching the housing market for signs of a thaw, the latest national numbers offer a little encouragement and a lot to think about. Home sales edged up in September, but they are still running behind where they were a year ago. Prices are higher, and more than a quarter of buyers are paying in cash.

An aerial view of a suburban neighborhood at sunset.

The National Association of Realtors published its September report on existing home sales on October 13, 2026. Here is what the numbers say, and what they might mean for you.

The Headline Numbers

Existing home sales ran at a seasonally adjusted annual rate of 3.99 million in September. That is up 1.5 percent from August, but down 2.2 percent from a year earlier. In plain terms, the market picked up a little from the month before, but fewer homes are changing hands than at this time last year.

A quick note on the “annual rate” phrasing. It does not mean 3.99 million homes sold in September. It is the pace of sales for the month, adjusted for seasonal patterns and expressed as if that pace continued for a full year. It makes it easier to compare one month with another.

Prices Keep Climbing Slowly

The median existing home price came in at $417,500, up 1.3 percent from $412,300 a year earlier. The median is the middle price, meaning half of the homes sold for more and half for less. It is a better guide than an average, which a handful of very expensive homes can pull upward.

A rise of 1.3 percent is modest, but it does mean that prices are still moving up and not down, even while sales trail last year.

Inventory And Supply

The report puts the inventory of homes for sale at 1.60 million, which equals 4.8 months of supply. Months of supply is an estimate of how long it would take to sell every home currently on the market at the current sales pace. A lower number generally means buyers have fewer choices, and a higher number generally means more choices and more room to negotiate.

Cash Buyers And First Time Buyers

Two other numbers in the report stand out. All cash sales made up 27 percent of transactions in September, down from 30 percent a year earlier. First time buyers made up 31 percent.

The cash number matters because cash buyers do not have to wait on a lender, and sellers often find an offer without a mortgage easier to accept. If you are financing your purchase, it is useful to know that more than a quarter of sales were all cash, since that is who you may be competing with in some situations.

What Buyers Can Take From This

Get your financing sorted early. A pre-approval letter from a lender shows sellers that you are serious and that you know what you can afford.
Plan for a price near the local median but check your own area. National numbers are an average of many different markets. Your town may look quite different.
Ask your agent about local conditions: how long homes are sitting, whether sellers are accepting offers below asking price and what other buyers are doing.
Do not skip the inspection. Even in a market where cash buyers are common, a careful look at the roof, plumbing, electrical and foundation can save you a great deal of money later.
Budget for more than the mortgage payment. Taxes, insurance, maintenance and repairs are all part of owning a home.

What Sellers Can Take From This

Price your home with the help of local sales, not just national headlines. A small national price gain does not guarantee that your own neighborhood is rising at the same rate.
Get the basics in order before listing: repairs, cleaning, decluttering and good photos all help a home stand out.
Be ready for different kinds of offers. Some buyers will pay cash and others will rely on a mortgage, and each can be a good deal for the right seller.
Talk to your agent about timing and strategy. A slower pace of sales than last year means patience and good pricing matter.

Questions To Ask Before You Move

Before you make any move, sit down with your family and talk through a few plain questions. How much can you comfortably afford each month, even if costs rise? How long do you expect to stay in the home? What would you do if repairs came up in the first year? Having honest answers ready makes it easier to tell a good deal from a tempting one, whatever the national numbers say.

The Bigger Picture

One month of numbers never tells the whole story. September’s report shows a market that is moving, but not rushing: a small gain from August, a small drop from last year, a modestly higher price and a steady presence of cash buyers. For most families, the right time to buy or sell depends far more on personal factors, such as your budget, your job, your family and how long you plan to stay, than on a monthly report.

Use the national numbers as a guide, ask good questions locally and take your time. A big decision like a home deserves it.

Willow and Hearth