SPY•Newly pending U.S. home listings fell 16.8% year over year in October, the steepest annual decline since August 2023. Existing home sales fell 8.7% to 304,105, while average mortgage rates rose to 7.33%.
Zillow’s October 2026 Market Report showed newly pending U.S. home listings fell 16.8% year over year, the steepest decline since August 2023. Existing home sales dropped 8.7% year over year to 304,105, and mortgage rates averaged 7.33%, up from 6.86% in September.
The typical monthly mortgage payment rose 12.8% year over year to $2,004, assuming a 20% down payment and excluding taxes and insurance. Annual rent growth accelerated to 2.9%, its strongest pace in 19 months.
