Realtor.com October Housing Report Shows Growing Inventory Amid Declining Buyer Demand
The U.S. housing market experienced a cooling trend in October 2026, characterized by a significant pullback in buyer activity and a rise in active inventory. New listings fell 7.5% year-over-year, the sharpest decline of the year, while homes under contract dropped 10.5%, marking the steepest annual decrease since late 2023. This slowdown is largely attributed to high mortgage rates, which averaged 7.33% in October. Despite lower new supply, active inventory grew for a fourth consecutive month to 1,183,500 homes, narrowing the gap to pre-pandemic levels to its narrowest point since the pandemic began. While price cuts remained prevalent at 20.5%, the national median list price fell to $415,000, marking the 12th consecutive month of annual declines.
Topics: housing market trends inventory levels median list price mortgage rates new listings
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Part of the story U.S. Median Home Prices Decline for First Time in Three Years (4 articles)