10/07/2026
US Existing Home Sales Hit a 14-Month Low
In mid-Q3, US existing-home sales dipped below 4 million, the lowest level in 14 months, landing at a 3.98M annual pace—a clear sign of softer buyer activity across the country. At the same time, 30-year fixed mortgage rates hovered near 7%, and inventory climbed to 4.9 months, giving buyers more choices as listings increased nationwide. Even with these shifts, the median price for an existing home hit a record $429,100, as higher-priced homes continued to lead the market. Strong wage growth and steady job gains are helping to support demand, and with a larger pool of homes to choose from, buyers are finding more room to negotiate. First-time homebuyers made up 30% of purchases in mid-Q3, cash deals accounted for 27%, and homes spent an average of 31 days on the market. As someone who's been helping clients navigate the Fort Wayne market since 2011—focusing on their long-term success—I'm always keeping an eye on these national trends to better guide your local decisions.