Homes.com Report: Home Prices Edge Higher Even as Sales Decline and Inventory Expands

Sale prices increased in 64% of tracked markets despite a nationwide decline in completed home sales.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Growing inventory gave buyers more choices in September, while affordability concerns and sharply different local conditions shaped the market.

ARLINGTON, Va.--(BUSINESS WIRE)-- Homes.com, a CoStar Group (NASDAQ: CSGP) leading online residential marketplace, released its September 2026 housing report today, showing that the national median home sale price increased 0.6% from a year earlier to $386,000. Home sales declined 6% year over year while active listings increased 1.9%.

Modest price growth, declining sales and expanding inventory suggest that demand remained sufficient to support prices, even as fewer transactions closed. With mortgage rates and affordability top of mind for households, buyers appear more selective. More listings gave them additional options, while sellers competed for fewer completed sales.

Local results show why the national price gain does not describe every market. Among the 40 largest, San Francisco recorded a 14.7% annual increase in its median sale price to $1,689,500 as inventory declined 14%. Cleveland, Chicago, St. Louis and Detroit posted gains of more than 5%, while Raleigh, San Antonio, Charlotte, Atlanta and Dallas-Fort Worth saw prices decline more than 2%. Across all markets tracked by Homes.com, sale prices increased from a year earlier in 593 of 933 markets, or 64%, showing that appreciation remained prevalent despite weaker national sales activity.

Single-family homes provided the strongest support for national prices, with their median sale price increasing 1.3% to $395,000. Median prices declined 0.1% for townhomes to $355,000 and 1.4% for condominiums to $345,000. Condominiums experienced the greatest sales weakness, with transactions falling 10.1%, and inventory declining 1.9%. Inventory increased 2.5% for single-family homes and 2.9% for townhomes. These differences suggest that affordability, supply and demand are affecting property types differently.

“High costs are keeping some buyers on the sidelines, but there still aren’t enough homes for sale in many markets to bring prices down,” said Brad Case, Homes.com Chief Residential Economist. “Buyers have more choices and can be more selective than they were a year ago, but that leverage varies significantly by market. Where inventory remains tight, prices are still rising; where supply has grown, sellers face more competition and pressure on pricing.”

Looking ahead, mortgage rates, inventory and sales activity will help determine whether prices remain resilient. If financing remains challenging and inventory expands while sales stay below year-earlier levels, sellers may face additional price pressure, particularly where supply is increasing. However, outcomes will continue to depend heavily on local inventory conditions and property type.

Additional market insights and reports are available at https://www.homes.com/reports/.

About Homes.com

Homes.com is the fastest-growing residential real estate marketplace and a leading destination for homebuyers, sellers, and real estate professionals. A brand of CoStar Group (NASDAQ: CSGP), Homes.com is redefining online real estate by putting agents and homeowners first through a more transparent, agent-friendly marketplace.

Unlike traditional real estate portals, Homes.com is built around a simple principle: Your Listing, Your Lead™. By connecting consumers directly with the listing agent, Homes.com helps agents win more listings, generate more leads and deliver greater value to their clients. Millions of buyers use Homes.com’s powerful search tools, rich property content, and AI-driven experiences to discover homes and connect with local real estate experts.

Backed by the largest marketing investment in residential real estate, Homes.com has invested $1.25 billion to build nationwide brand awareness, generating more than 100 billion impressions and establishing Homes.com as a household name among consumers. The platform continues to experience rapid growth, with 83 million average monthly unique visitors*, 115% year-over-year growth in organic search traffic, and more than 36,000 Member Agents joining in just two years.

Homes.com Membership gives agents exclusive marketing advantages and unmatched exposure to help grow their businesses. Based on an internal analysis of approximately 11,000 Member Agents, Members earned an average of $36,400 more in commission during their first year of membership. Members win 60% more listings and received five times more leads than non-member agents**.

For more information, visit Homes.com.

*The Homes.com Network, which includes Homes.com, the Apartments Network, and the Land Network, averaged 83 million monthly unique visitors through July 2026, according to Google Analytics.

** This figure represents an average of 11,000 agents who completed one full year of membership and is not a guarantee of future results. Individual results may vary based on market conditions, geographic location, agent activity, and other factors.

About CoStar Group
CoStar Group (NASDAQ: CSGP) is a global leader in commercial real estate information, analytics, online marketplaces, and 3D digital twin technology. Founded in 1986, CoStar Group is dedicated to digitizing the world’s real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives.

CoStar Group’s major brands include CoStar, a leading global provider of commercial real estate data, analytics, and news; LoopNet, the most trafficked commercial real estate marketplace; Apartments.com, the leading platform for apartment rentals; Homes.com, the fastest-growing residential real estate marketplace; and Domain, one of Australia’s leading property marketplaces. CoStar Group’s industry-leading brands also include Matterport, a leading spatial data company whose platform turns buildings into data to make every space more valuable and accessible; STR, a global leader in hospitality data and benchmarking; Zonda, a leading provider of data, analytics, software, and marketplace solutions for the residential construction industry; Ten-X, an online platform for commercial real estate auctions and negotiated bids; and OnTheMarket, a leading residential property portal in the United Kingdom.

CoStar Group’s websites attracted over 118 million average monthly unique visitors in the second quarter of 2026, serving clients around the world. Headquartered in Arlington, Virginia, CoStar Group is committed to transforming the real estate industry through innovative technology and comprehensive market intelligence. From time to time, we plan to utilize our corporate website as a channel of distribution for material company information. For more information, visit CoStarGroup.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20261021312975/en/

Media Contact:
Matthew Blocher
CoStar Group
(202) 346-6775
mblocher@costar.com

Source: CoStar Group