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MARKET TRENDS
- Mortgage rates rose about 0.5% over the last 12 months, resulting in fewer home sales and moderating home price appreciation.
- Existing home sales fell 2.4% in September relative to September 2025, and the median home price rose just 1.5% to $342,000 over that same period.
- Year-to-date home sales rose 2.8% compared to the first nine months of 2025, and the statewide median price was up 6% to $346,500 over that same nine-month time span.
- Although new listings fell 5.1% over the past 12 months, total listings rose 3.8% between September 2025 and September 2026.
- In September, the tightest supply was found in the large metropolitan counties, which had just 4 months of supply. Six months of supply is considered a balanced market, so the more urbanized areas remain seller’s markets.
“September closed sales were down by 2.4% even as total listings and months of supply both improved over the last 12 months. The primary reason for reduced sales was rising mortgage rates, which softened buyer demand for existing homes.” – Amy Curler, WRA Chair “Mortgage rates have reached their highest level since January 2025. If these trends continue, both buyers and sellers will be affected. Specifically, lower affordability obviously hurts buyers, and higher rates also keep potential sellers from listing their homes because they don’t want to give up the very favorable rates locked in over the last six years.” – Tom Larson, WRA President & CEO |