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- New - home sales dip shows need to focus on revenue streams
The Mortgage Bankers Association estimates new-home sales have dropped to a seasonally adjusted 584,000 units, the lowest level in more than six years and below last year's pace. Mortgage applications for new single-family homes fell 8.3% from September 2025 and 8% month over month, as higher rates weighed more heavily on first-time buyers. Approximately 47,000 new-home sales occurred in September, down 9.6% from 52,000 in August, and the average loan size rose to $374,724 from $373,194. FHA-backed loans' share of new-home applications slipped to 34.7% from 35%, while conventional loans made up 50.2% and VA loans 14.1%. The National Association of Home Builders reports builder sentiment is at its lowest in years, with most builders offering incentives as rates are expected to stay near current levels.
- Canadian home sales fall in September as mortgage rates increase , CREA says
National home sales fell 2.3% month-over-month in September after a 0.7% drop in August, and were down 7.7% year-over-year without seasonal adjustment. The Home Price Index fell 0.4% monthly and 3.4% annually. Newly listed properties dropped 1.8% monthly, and the seasonally adjusted sales-to-new-listings ratio slipped to 48.8% from 49.1%, well below its 54.7% long-term average. CREA's senior economist Shaun Cathcart linked the decline to the recent jump in fixed mortgage rates and widespread expectations of a Bank of Canada rate hike. The BoC is not expected to change rates at its October 28 decision, but money markets are pricing in a 25 basis point hike in December.
- US home sales rose in September, but slowed from a year earlier as mortgage rates, prices rose
Existing U.S. home sales rose 1.5% from August to a seasonally adjusted annual rate of 3.99 million in September, according to the National Association of Realtors, though they fell 2.2% from a year earlier; August's figure was revised lower. The median sales price climbed 1.3% year over year to $417,500, an all-time high for September and the 39th straight month of annual gains. The average 30-year mortgage rate hit 7.4% last week, its highest in nearly three years, and NAR chief economist Lawrence Yun said rates are unlikely to drop meaningfully soon. Unsold inventory reached 1.6 million, the highest since November 2019 and equal to a 4.8-month supply. Yun said the market is tilting toward buyers who can negotiate better prices.
- Meet the home buyers totally unfazed by 7% mortgage rates
- Rising mortgage rates and home prices sidelining buyers but now is the time to purchase , report says
- Ski town housing markets face slower sales amid rising mortgage rates, as luxury market outperforms trends
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