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Explore PlansHouseCanary's October 2026 Market Pulse shows a single-family detached housing market still in balance but showing clear signs of stress, as interest rates rise rapidly and home prices sit near record highs. Contract volume fell 15.5% and net new listings fell 17.1% versus October 2025, the sharpest joint decline in buyer and seller activity since late 2023. Total inventory is up 12.6% year-over-year, months of inventory stands at 5.85, and median days on market rose to 55, up from 53 one year ago.
Inventory Keeps Rising as the Market Borders Buyer's Territory
Total single-family detached inventory rose 12.6% year-over-year in October, continuing the return to average historical levels. Measured against October 2024, inventory is up 24.2%.
Months of inventory stands at 5.85, up from 5.46 in the September report. The current reading implies a neutral market environment that is bordering on buyer's-market territory. Median days on market increased modestly to 55 days, up 3.8% from 53 days one year ago.
Contracts and Net New Listings Fall by Double Digits Again
Buyer and seller activity both slipped by double digits again in October, after double-digit declines in September. In total, 237,058 single-family detached properties went under contract, down 15.5% versus October 2025, while net new listings fell 17.1% to 220,614. The decline in net new listings was driven by a 7.3% decrease in new listing volume combined with a 28.0% increase in removals.
Over the trailing 52 weeks, contracts totaled 2,864,373, down 2.3% year-over-year, while net new listings of 2,892,384 were down 2.8%. In October alone, contracts outpaced net new listings by 16,444, so net new inventory was negative for the month, compared with a decline of 14,543 in October 2025.
Price Cuts Hit a Multi-Year High as Prices Hold Steady
Single-family detached prices exhibited stability in October. The median listing price was $444,296, down 0.9% year-over-year, while the median closed price rose 2.2% to $428,636. Month-over-month, the median listing price decreased 1.5%, reflecting typical seasonality.
On a per-square-foot basis, the median listed price-per-sqft is $233.1 (down 1.2% YoY) and the median closed price-per-sqft is $236.1 (up 0.2% YoY). The sale-to-list price ratio stands at 97.3%, and price cuts are up 7.9% versus October 2025, setting a new multi-year high.
Rental Market: Supply Tightens While Rents Inch Higher
The single-family detached rental market saw inventory contract 14.2% year-over-year, and it now sits 0.3% below October 2024 levels. The median listed rent increased 1.0% year-over-year to $2,444, while month-over-month rents are down 0.6%.
Condo Market: Activity Falls Faster Than Single-Family Detached
The condo market, which includes townhomes, rowhomes, and other single-family attached units, continues to run more buyer-friendly than the detached segment. Total condo inventory is up 13.1% year-over-year and up 27.1% versus 2024. Months of inventory stands at 7.48, in buyer's-market territory, while median days on market rose to 66 days, up from 65 one year ago.
Condo activity fell even more sharply than single-family detached. In total, 47,683 condos went under contract in October, down 20.9% year-over-year, while net new condo listings fell 26.5% to 45,566. That decline was driven by a 10.3% decrease in new condo listing volume combined with a 37.7% increase in removals.
Condo pricing remains softer than detached. The median condo listing price was $388,926, down 3.4% year-over-year, and the median closed price was $382,795, down 2.3%, while single-family detached closed prices are still rising. The sale-to-list ratio for condos sits at 96.4%, and condo price cuts are up 0.8% compared with October 2025. In the condo rental market, the median listed rent fell 0.4% year-over-year to $2,286, while condo rental inventory declined 5.7%.
Key October 2026 Highlights
All single-family figures below reflect Single-Family Detached (SFD) homes; condo metrics are summarized in the Condo Market section above.
- Net New Listings (SFD): 220,614 in October (down 17.1% YoY)
- Contracts (SFD): 237,058 in October (down 15.5% YoY)
- Inventory (SFD): +12.6% YoY; months of supply at 5.85
- Days on Market (SFD): 55 (up from 53 YoY)
- Prices (SFD): Listing –0.9% YoY ($444,296) | Closed +2.2% YoY ($428,636)
- Rental Market (SFD): Inventory –14.2% YoY | Median rent $2,444 (+1.0% YoY)
- Condo Market: Inventory +13.1% YoY | Months of supply at 7.48 | Listing prices –3.4% YoY
The Bottom Line
The October 2026 Market Pulse shows a U.S. housing market absorbing a shock from the rate spike of September and October. Inventory keeps rebuilding and prices are holding steady, but buyer and seller activity fell by double digits for a second straight month and price cuts reached a new multi-year high. Should rates remain elevated over the coming months, HouseCanary expects a reversal of the positive trends observed through much of 2026: supply improvements, steady buyer activity, and steady price growth.
Explore the full October 2026 Market Pulse Report to access detailed data, trends, and regional breakdowns shaping today's housing market.
