U.S. new single-family home sales fell 0.6% in September to a 676,000 annualized
pace, above economists' median forecast of 651,000, the federal government said
Tuesday. The median new-home sales price declined 3.9% YoY to $400,400; in the
first nine months of 2026 seven months showed YoY price drops. Builders’ price
cuts and buyer incentives failed to offset a roughly 50 bps rise in mortgage
rates last month, which pushed rates to a near three-year high in early October
before easing slightly. Higher borrowing costs weakened demand and drove a
builders’ confidence gauge to a 14-year low.
