The typical existing home sat on the market a median 33 days in September before it sold, up from 31 days in August, according to the National Association of Realtors. The two-day lengthening is small, but it matches the way the whole market felt: more homes to choose from, fewer buyers able to qualify and sellers waiting a little longer for offers.
Two extra days on the market since August
NAR published the September existing-home sales report on October 13. The median time on market of 33 days was the same as in September 2025, so the year-over-year picture is flat. The change is month to month, from 31 days in August to 33.
The median is the middle listing: half of the homes sold faster than 33 days and half took longer. A median can hold steady even when individual listings sit for months, so the number is best read as a measure of the typical sale, not the slowest ones.
Sales themselves were weak. NAR reported 3.99 million existing-home sales at a seasonally adjusted annual rate in September, up 1.5% from August and down 2.2% from a year earlier. Chief economist Lawrence Yun said August and September marked the two slowest months for home sales this year.
Sellers who list in the coming weeks face that backdrop directly. A house that sits for a month or more needs a plan for the extra carrying cost, because property taxes, utilities and insurance continue every day it is unsold. The longer the wait, the more of the sale price those costs absorb.
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Cash buyers thin out while investors return
The buyer mix shifted in September. First-time buyers made up 31% of sales, up from 30% in August and a year earlier. Cash purchases were 27% of sales, unchanged from August and down from 30% a year ago, so a smaller share of buyers paid without a loan.
Investors and second-home buyers rose to 20% of sales, from 15% in both August and a year earlier. A five-point jump is large for a single month. Investors and second-home buyers are a separate pool from first-time buyers, and the two groups together made up just over half of September sales.
Borrowing costs are the brake. NAR’s report leaned on Freddie Mac’s survey, where the 30-year fixed averaged 6.86% in September against 6.67% in August, and Yun said the climb in recent weeks shrinks the pool of buyers who can qualify for a loan.
The affordability measure explains why. NAR’s housing affordability index was 105.4 in September, down from 106.7 a year earlier, meaning a typical family is a little less able to afford a typical home than it was. Less affordability and more listings together point to the slower pace that the days-on-market number shows.
More homes to choose from, and more room to bargain
Inventory kept building. The 1.60 million listings on the market at the end of September sat 1.9% above August and 4.6% above a year earlier, equal to a 4.8-month supply at September’s sales pace, the same as in August. Twelve months earlier buyers faced a 4.5-month supply.
The year-over-year comparison shows the squeeze. Inventory is up 4.6% from September 2025 while sales are down 2.2%, so there are more homes for sale and fewer completed purchases. When listings pile up faster than buyers appear, the median time on market tends to creep higher, which is the pattern the two-day rise suggests.
Yun said higher inventory and lengthening days on market give buyers improved negotiating power. In practice, that means a seller who lists at a price the neighborhood does not support is likely to wait, and a buyer can ask for repairs or closing-cost help that were harder to win in a faster market.
Prices have held up despite the slowdown. NAR’s national median existing-home price was $417,500, up 1.3% from $412,300 a year earlier. A longer wait to sell is therefore a matter of time and carrying cost, not yet a story of falling prices.
Freddie Mac’s latest weekly reading, dated October 22, was 7.32% for the 30-year fixed rate, down from 7.40% the previous week. A slight pullback could draw some buyers back, but the rate is still above the 6.86% September average that NAR cited.
The Federal Reserve meets October 27-28 and again December 8-9, according to its published calendar. Freddie Mac’s 15-year fixed rate averaged 6.68% on October 22, against 5.44% a year earlier. Sellers who need a buyer to finance a purchase are working against a rate more than a full point higher than last year.
Timing matters most to homeowners who plan to sell to cover a move, a medical cost or a smaller place. A sale that takes 33 days to find a buyer still takes weeks more to close, and the bills keep arriving. Whether the household budget can carry those weeks is the practical question.
Programs exist for some of those carrying costs. Property-tax breaks and circuit-breaker credits reduce what homeowners owe in many places, LIHEAP helps with heating bills, and Medicare Savings Programs pay Medicare premiums for people with limited income. All are opt-in, with income limits that differ by program and state, so none of them start without an application.
What if the house takes longer to sell than the budget allows?
Two extra days on the market is a small number, but every week a house sits unsold adds property taxes, utilities and upkeep to the seller’s costs. The programs that offset some of them, from property-tax credits to heating help, start only after an application.
The Benefits Checklist scans 11 benefit programs, among them the property-tax breaks in Part 5 and the heating help in Part 4, and adds the 2026 income limits, a 50-state phone directory and a printable tracker, so each application has a place and a status.
Get the benefits checklist and tracker for carrying costs while a home waits →
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This article was produced with AI assistance and edited for accuracy against the sources linked above.
Warren Cohen is a finance writer based in Phoenix, Arizona, covering personal finance topics including credit, banking, and beginner investing. He earned his degree in business administration from Arizona State University and began his career working in consumer finance, where he gained direct experience with lending and credit systems. He now writes for personal finance websites and fintech platforms, focusing on clear, practical content that helps readers make informed financial decisions.
