Zillow nowcast shows newly pending U.S. home sales fall 8.5% in September as mortgage rates hit 7.28%
ZG•Newly pending U.S. home sales fell 8.5% year over year in September, while mortgage rates ended the month at 7.28%. Zillow’s preliminary nowcast showed existing-home sales down 2.5%.
1. September housing activity
Zillow’s September 2026 Market Report said newly pending U.S. home sales fell 8.5% year over year and existing-home sales fell 2.5%, based on its preliminary nowcast. Mortgage rates ended the month at 7.28%, the highest since November 2023, and the typical monthly payment rose 6.7% year over year.
2. Home values and rents
The typical U.S. home value was $366,913, up 1% year over year. Typical rent rose 2.7% to $1,932, its biggest annual gain since April 2025.
