What did existing home sales look like in October?
Existing home sales in October saw an increase in two out of four regions across the nation compared to the previous month, according to a report released today by the National Association of REALTORS ® (NAR).
It was reported that existing home sales, which the NAR defines as completed transactions for properties that include single-family homes, townhomes, condominiums and co-ops, increased as much as 1.7% from October of last year.
The Midwest noticed the greatest increase in October of 2025, up 5.3% from the previous month and 2.1% from the year before.
NAR Chief Economist Lawrence Yen indicated sales increased despite some economic challenges. "Home sales increased in October even with the government shutdown due to homebuyers taking advantage of lower mortgage rates.”
Total homes for sale at the end of October were 4.1 million units, up 1.3% from September and up 1.7% from October 2024. Total housing inventory reached 1.52 million units this month, down 0.7% from September but up 10.9% compared to the same time last year. With more options on the market, potential buyers have a better chance to discover their dream home than they did last year.
Which regions showed changes in existing home sales?
Two of the four regions the NAR tracks in the U.S. showed increases in sales of existing homes in October, the NAR said.
- In the Midwest, existing home sales rose 5.3% compared to September.
- Completed transactions in the South increased 0.5% from the previous month.
- The Northeast saw no change in sales of existing homes compared to September.
- Sales of existing homes in the West decreased 1.3% from the previous month.
The current regional housing market is opening up in some regions for homebuyers, Yun said. "First-time homebuyers are facing headwinds in the Northeast due to a lack of supply and in the West because of high home prices. First-time buyers fared better in the Midwest because of the plentiful supply of affordable houses and in the South because there is sufficient inventory."
Winter typically sees a drop in existing home prices. On top of that, mortgage rates have seen a steady decline since May. With fall just beginning and mortgage rates lowering, it might be the right time for buyers to start looking for a new home.
Did mortgage rates show any change?
According to data from Freddie Mac, the 30-year fixed rate mortgage averaged 6.24% as of Nov.13. That’s up from 6.22% one week before but down from 6.78% one year ago.*
Continued reduction in mortgage interest rates will likely be a welcome sign to prospective homebuyers. A decrease in mortgage rates could also signal a continuing thaw in the housing market as we enter cooler months.
Are you ready to start seeing the benefits of homeownership? Apply for a mortgage pre-approval and begin your journey toward your dream home with OriginPoint! A pre-approval shows sellers and real estate agents that you’re a serious buyer and gives you an idea of how much your mortgage is likely to get approved for.
*National average rates from Freddie Mac as of Nov. 13, 2025, are not advertised rates from OriginPoint.
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