Zillow's September Market Report shows an early winter in the housing market as newly pending sales fall 8.5%
Zillow's September Market Report shows an early-winter housing slowdown, with newly pending sales down 8.5% year over year and closed existing home sales down 2.5%. Mortgage rates ended the month at 7.28%, the highest since November 2023 per Freddie Mac, pushing typical monthly mortgage payments up 6.7% YoY even as home values rose just 1% to $366,913. The rental market is the bright spot: the typical U.S. rent rose 2.7% YoY to $1,932, the biggest annual gain since April 2025, which could support Zillow's rentals business.
Key figures
- Rent yoy
- 2.7%
- Typical rent
- 1932
- Inventory yoy
- 2.5%
- Mortgage rate
- 7.28%
- Home value yoy
- 1%
- Price cut share
- 27.4%
- Typical home value
- 366913
- Mortgage payment yoy
- 6.7%
- Median days to pending
- 29
- Existing home sales yoy
- -2.5%
- Newly pending sales yoy
- -8.5%
AI analysis
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AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.