U.S. Home Sales in September: What It Means for Ann Arbor

Home sales across the country edged up in September, but the bigger story is the shape of the market: more homes for sale, buyers taking their time, and mortgage rates back above 7%. Here is what the National Association of REALTORS® reported on October 13, and how it compares with what we are seeing in Ann Arbor.

The national numbers at a glance

• 3.99 million homes sold at an annual pace, up 1.5% from August but down 2.2% from a year ago. Sales were lower than last year in all four regions.
• The median existing-home price was $417,500, up 1.3% from a year ago. That is the 39th straight month of year-over-year gains, but the smallest gains in a long while.
• Inventory reached 1.60 million homes, up 4.6% from last September, or a 4.8-month supply (4.5 months a year ago).
• Homes took a median of 33 days to sell. First-time buyers were 31% of sales, and cash buyers were 27%.
• Freddie Mac's 30-year fixed rate averaged 6.86% in September and rose to 7.40% the week of October 8, up from 6.30% a year earlier.

NAR Chief Economist Lawrence Yun noted that August and September were the two slowest months for home sales this year. “Higher inventory and lengthening days on market give buyers improved negotiating power,” he said. “Home sellers need to be realistic about local market conditions.”

The Midwest is holding up better

Midwest sales held steady from August at a 930,000 annual pace, and the regional median price rose 3.1% to $329,600. That is more than twice the national rate. The West, by comparison, saw prices dip slightly from a year ago.

How Ann Arbor compares

*Ann Arbor Public Schools attendance area, September 2026 closings, from our monthly Ann Arbor Market Report.

Locally, 110 homes closed in September at a median of $455,000, and sellers received 98.9% of their asking price. Ann Arbor's supply has grown too, to about four months, but our market still moves a bit faster than the national average.

What it means for you

• If you are buying: you have more choices and more time than at any point in the last few years. Higher rates cut into buying power, so get your financing lined up early and know your monthly comfort zone.
• If you are selling: buyers are comparing more homes before they commit. Preparation and a price grounded in current local sales matter more than they did when inventory was scarce.
• If you are waiting: national headlines are an average of very different markets. What matters is your neighborhood, your price range, and the homes you would be competing with.

Want the local picture for your home?

Call or text Linda Lombardini at 734-302-3600, or reach out here, and she will walk you through what is selling near you and what it means for your plans.

Sources: National Association of REALTORS®, Existing-Home Sales for September 2026 (released Oct. 13, 2026); Freddie Mac Primary Mortgage Market Survey (week of Oct. 8, 2026). Ann Arbor figures: Trillium Real Estate analysis of MLS sales in Ann Arbor Public Schools attendance areas, September 2026. Statistics are for informational purposes and are not an appraisal or guarantee of value. Equal Housing Opportunity.