Bright MLS September 2026 Housing Market Report: A Stalling Housing Market This Fall

A sharp decline in buyer interest as higher rates cause the housing market to seize up

North Bethesda, Md., Oct. 12, 2026 (GLOBE NEWSWIRE) -- As mortgage rates move to their highest levels in nearly three years, homebuyers are hitting affordability ceilings. In the Mid-Atlantic market, committed buyers remain, but casual home shoppers and discretionary buyers are sitting out.

In September, the number of closed sales in the Bright MLS service area fell for the second consecutive month, with sales down 5.2% year-over-year. Other indicators of buyer activity suggest further declines in closed sales through the fall. Overall, the number of new pending contracts in September was down by 13.5% compared to a year ago. Showing activity, which measures the number of home tour requests, fell by 12.6%.

“With rates escalating quickly to close to 7.5%, more buyers are being priced out of the market,” said Bright MLS Chief Economist Lisa Sturtevant. "Even those who can still make the numbers work may be waiting for more certainty in the market and the economy.”

Seller activity in September was slightly above last year, and as the number of new listings outpaces new pending contracts, inventory continues to rise. Active listings at the end of September were 18.5% higher compared to a year ago. Price growth has slowed, with the median price up just 1.2% year-over-year.

Looking ahead, it is likely to be a very slow market this fall. While year-to-date sales are currently tracking slightly ahead of last year, all signs are pointing to a drop off in transactions, which means overall 2026 transactions are likely to come in below 2025.

Key Facts – Mid-Atlantic Region, September 2026

• Home Prices: The median sold price was $425,000, up 1.2% from September 2025 and the slowest pace of home price growth since May 2023.
• New Pending Sales: There were 17,347 new contracts on homes in September, a 13.5% decline from a year ago.
• New Listings: Sellers brought 24,086 new listings to the market, which was just 0.4% higher than a year ago.
• Inventory: Total active listings at the end of September reached 57,397, an 18.5% increase from last year. Overall inventory is still below pre-pandemic levels.
• Market Pace: The median days on market was 19 in September 2026, one day slower than a year ago. 
• Showings: Showing activity dropped by 12.6% compared to September 2025, with 316,090 total showings.
• Outlook: Sluggish transactions and slower price growth, with isolated local price declines.

Philadelphia Metro Overview

• Home Prices: The median sold price was $400,000, which is a 2.6% gain from August 2025.
• New Pending Sales: There were 5,159 new pending sales in September 2026, down by 10.7% compared to a year ago.
• New Listings: Sellers outpaced buyers, with 7,236 new listings coming onto the market in September, a modest 0.7% increase from September 2025.
• Inventory: Month-end active listings were up 19.6% from a year ago.
• Market Pace: The median days on market was 16, unchanged from a year ago. 
• Showings: Showing activity fell by 10.5% compared to last September.
• Outlook: Rising affordability challenges stall market activity in the Philadelphia area 

Baltimore Metro Overview

• Home Prices: The September 2026 median sold price was $405,000, unchanged from a year ago. 
• New Pending Sales: New pending sales were down sharply, falling 14.9% year-over-year. 
• New Listings: New listings outpaced new pending sales, but September new listings were still down 1.5% compared to a year ago.
• Inventory: Total active listings at the end of September 2026 were 21.2% higher than last August.
• Market Pace: The median days on market was 19, three days slower than a year ago. 
• Showings: The number of showings in September 2026 was 12.5% lower than last year.
• Outlook: Slower fall housing market, even in the once-resilient suburbs

Washington, D.C. Metro Overview

• Home Prices: The median sold price was $610,000 in September 2026, a 1.6% gain. 
• New Pending Sales: In September 2026, the number of new pending sales was sharply low, down 17.1% compared to last year. 
• New Listings: New listings outpaced new pending sales in September, though the number of new listings was still down 0.3% compared to September 2025. 
• Inventory: At the end of August 2026, active listings were 20.1% higher than a year ago.
• Market Pace: The median days on market was 22, one day higher than a year ago. 
• Showings: Showing activity in September 2026 was 16.9% lower than last September.
• Outlook: Higher rates will lead to fewer transactions, local price weakening

About Bright MLS
Bright MLS is the engine behind some of the most powerful and dynamic real estate markets in the country. As the largest multiple listing service in the United States, Bright empowers over 100,000 real estate professionals with real-time data, deep market intelligence, and the tools to serve more than half a million buyers and sellers each month across six states—Delaware, Maryland, New Jersey, Pennsylvania, Virginia, West Virginia—and the District of Columbia. In 2025 alone, Bright powered more than 460,000 listings, far outpacing other large MLSs. Bright was built to lead. Backed by a nationally respected research team, Bright delivers trusted housing intelligence that powers decisions and best-in-class tools designed to push organized real estate forward, creating a more transparent, competitive, and informed marketplace. Bright Solutions, the company’s new suite of SaaS products, helps real estate professionals meet the challenges of a rapidly changing landscape. Learn more at BrightMLS.com.

Kimberly Cure
Bright MLS 
610-205-3351
kimberly.cure@brightmls.com