Housing Market Pulse | September 2026

More Choices for Buyers Put Association Finances in Sharper Focus

Growing housing inventory may give buyers more negotiating power—and more opportunity to examine the full cost and financial condition of homes in community associations.

The Latest Housing Numbers

Existing-home sales declined 2.0% from July to a seasonally adjusted annual rate of 3.98 million in August, according to the National Association of REALTORS®. Sales were also 1.2% lower than one year earlier.

Meanwhile, the number of homes available for sale continued to grow. Total housing inventory reached 1.62 million units, an increase of 3.2% from July and 5.9% from August 2025. At the current sales pace, that represents a 4.9-month supply—the highest level in more than a decade.

Prices continued to rise despite slower sales. The national median existing-home price reached $429,100, up 1.6% from August 2025.

A Closer Look at Condominiums and Cooperatives

Sales of existing condominiums and cooperatives declined 2.7% from July and 2.7% from one year earlier, reaching a seasonally adjusted annual rate of 360,000 units.

The median condo and cooperative sales price was $371,600—an increase of 1.5% from August 2025.

Although condominiums and cooperatives represent only part of the community association housing market, these figures provide a useful indication of conditions affecting an important segment of association-governed housing.

The Community Association View

More inventory can give prospective buyers additional time and leverage to compare properties. In a community association, that comparison extends beyond the sale price and mortgage payment.

Buyers and their lenders may also examine:

• Regular assessments and recent increases
• Pending or recently approved special assessments
• Reserve funding and the age of major building components
• Insurance costs and coverage
• The association’s overall financial condition
• Rules, amenities, and maintenance responsibilities

This makes clear, accessible information increasingly important. Managers and boards should be prepared for prospective buyers to ask not only what assessments cost, but also what those assessments fund and whether the community is financially prepared for future repairs.

What to Watch

Greater buyer choice does not necessarily mean lower housing costs. Home prices remain elevated, borrowing costs continue to affect affordability, and owners in community associations must account for assessments alongside their mortgages, property taxes, insurance, and maintenance expenses.

These pressures can place boards in a difficult position. Owners may be especially sensitive to assessment increases even as associations face rising insurance premiums, labor costs, maintenance expenses, and reserve-funding needs.

Keeping assessments artificially low may offer short-term relief, but it can increase the likelihood of deferred maintenance or special assessments later. In a more selective housing market, responsible financial planning and transparent communication may become more visible parts of a community’s value proposition.

Foundation Connection

Explore the Foundation’s Condo and HOA Assessment Trends Dashboard to see how average assessments have changed over time.

The Foundation’s Best Practices: Reserve Funding report also provides guidance for planning and communicating about a community’s long-term repair and replacement needs.