By Melissa Dittmann Tracey | Realtor News
Buyers are stepping back in as mortgage rates drop—nudging home sales higher, according to new data from the National Association of REALTORS®.
Despite the record-breaking 43-day government shutdown, the housing market didn’t stall last month. Existing-home sales eked out a 1.2% increase, the National Association of REALTORS® reported Thursday. That momentum is likely to carry into 2026, especially as mortgage rates are predicted to become less of a barrier for buyers.
“Home sales increased in October, even with the government shutdown, due to home buyers taking advantage of lower mortgage rates,” says Lawrence Yun, NAR’s chief economist. “Rents are decelerating, which will reduce inflation and encourage the Federal Reserve to continue cutting rates and pulling back their quantitative tightening. This will help bring more home buyers into the market since the Fed rate has an indirect impact on mortgage rates.”
