US housing market slumps in September as sales, construction and sentiment weaken

Summary

New September data shows the US housing market in a deep freeze. CNBC reports that sales, construction and sentiment all fell more than expected. The Financial Times reports that pending home sales, which are contracts signed but not yet closed, dropped 7.3% in September to a record low as rising borrowing costs deepened the slowdown. Both reports point to a broad pullback in housing activity driven by higher mortgage rates.

Timeline

1. CNBC

   20 Oct 2026, 14:18 UTCSource ↗

   CNBC reports that September data shows the housing market in a deep freeze, with sales, construction and sentiment all falling more than expected.

2. Financial Times

   20 Oct 2026, 14:39 UTCSource ↗

   The Financial Times reports that US pending home sales fell to a record low in September as mortgage rates surged, with sales contracts down 7.3%.