By Leslie E. Martin, Realtor® | Last updated October 17, 2026
If you’ve noticed more homes for sale lately, you’re not imagining it. But the reason might surprise you.
KEY TAKEAWAYS
- More homes for sale doesn’t mean more sellers are listing. In September, active listings rose 5.4% from a year earlier while new listings dipped 0.7%.
- Homes are selling more slowly. The typical home spent 61 days on the market in September, and 20.8% of listings had a price cut.
- Buyers have more room to negotiate, and sellers need to price right from day one.
Source: Realtor.com September 2026 Monthly Housing Trends Report
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Why Are There More Homes for Sale When Mortgage Rates Are Above 7%?
Homes are selling more slowly, so unsold listings pile up. Higher mortgage rates have pushed some buyers to the sidelines, which means fewer homes go under contract each week, even though sellers aren’t listing any faster.
Mortgage rates have climbed back above 7%. Freddie Mac’s weekly mortgage rate survey put the average 30-year fixed rate at 7.40% on October 15, up from 6.95% in mid-September. You can browse the full 30-year fixed mortgage rate history if you want the bigger picture. When rates climb, some buyers pause their search, so fewer homes sell each week.
Here’s the twist. The market isn’t seeing a flood of new listings. Homes are just staying on the market longer, and the unsold ones stack up next to the new ones.
What the Inventory Data Shows
According to Realtor.com’s monthly housing data, active listings in September were up 5.4% from a year earlier, to more than 1.16 million homes. New listings, though, slipped 0.7% over the same period, and the number of homes under contract fell 4.1%. Supply is building because fewer homes are selling, not because more sellers are rushing in.
Even with that growth, inventory is still about 9.1% below typical pre-pandemic levels.
How Long Are Homes Taking to Sell?
Realtor.com reports the typical home spent 61 days on the market in September, compared with 62 days a year earlier. That is 14 days longer than September 2022 and one day shorter than September 2019. This isn’t a sudden swing. It’s a market that has settled into a slower, more normal rhythm.
What has changed is price. In September, 20.8% of active listings had a price cut, the highest September share since 2018.
What Is Happening in Metro Detroit?
The Detroit metro area, which includes Wayne and Oakland counties, follows the same pattern, a little more sharply. In September, Realtor.com data showed active listings up 13.0% from a year ago, while new listings were down 6.5%. The median list price was $274,950, flat from last year. Homes spent about 3 more days on the market than a year earlier, and 21.5% of listings had a price cut, up 2.8 percentage points.
Your neighborhood can look different from the metro average, which is why I look at street-level numbers before pricing a home or writing an offer.
What More Homes for Sale Means for Buyers
More homes for sale means more choices and less pressure to rush. It also means more room to negotiate.
A home that has been sitting for a while might come with a seller who is willing to talk about price, repairs, closing costs, and even helping you pay down your rate through a rate buydown. Not every seller will, and concession limits vary by loan type, so check with your lender. You still have more leverage than you did a few years ago.
What More Homes for Sale Means for Sellers
Buyers have more options now, so your home has to stand out. That means pricing it right from day one, making a great first impression, and working with your agent to show what makes your home special.
Buyers are still buying, just more carefully. You need to position your home well.
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The Market Hasn’t Stopped. It’s Moving at a Different Pace.
Your strategy should move with it. Whether you’re buying or selling, let’s look at how long homes are taking to sell in your neighborhood, so your offer or your price fits today’s market.
I’m Leslie E. Martin, and I look forward to helping you make your next move.
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Why Is Housing Inventory Rising When Mortgage Rates Are High? Your Questions Answered
Why is housing inventory rising when mortgage rates are high?
Higher rates have caused some buyers to pause, so fewer homes go under contract each week. New listings aren’t flooding the market. In September, Realtor.com reported new listings down 0.7% from a year earlier while active listings rose 5.4%, because unsold homes are piling up alongside the new ones.
Does more inventory mean home prices are about to drop?
Not necessarily. Inventory and price are two different things. More homes for sale gives buyers more choices and more room to negotiate, but a home that is priced right and presented well still draws buyers. In September, the national median list price was down 1.4% from a year ago, while the Detroit metro was flat.
Is it a good time to buy a home with more homes on the market?
Buyers have more choices and more leverage than they did a few years ago. Rates are still high, so the monthly payment has to work for you. Get pre-approved first so you know your real budget.
How should I price my home when homes are taking longer to sell?
Price it right from day one, make a strong first impression, and work with your agent to show what makes your home special. Buyers have more options, so overpricing costs you time.
How long does it take to sell a home right now?
Realtor.com reports a national median of 61 days on market for September 2026. In the Detroit metro, homes spent about 3 more days on the market than a year earlier. Your neighborhood can look different, which is why I look at local numbers before setting a price or writing an offer.
