The housing market is entering a new phase, and September brought some notable shifts. Rising mortgage rates, renewed inflationary pressure, and growing inventory are reshaping buyer demand across the country. Yet beneath the headlines, the market tells a more nuanced story, particularly in the luxury segment, where demand continues to show resilience.

In Compass’s September 2026 National Insights Report, Chief Economist Mike Simonsen examines the economic forces influencing housing, from mortgage rates reaching their highest levels in more than two years to moderating pending sales and gradual inventory growth. While affordability pressures are weighing more heavily on lower price points, home prices remain relatively stable, and the data does not point to a distressed market.

What does this mean for buyers and sellers heading into the final months of 2026? Understanding the national trends can provide valuable perspective as you evaluate your next move in Austin’s evolving luxury real estate market.

Explore the full report below for the latest data, key economic indicators, and insights shaping the national housing landscape.