Residential Real Estate News
U.S. Residential Property Sales Remain Flat in April
U.S. existing-home sales edged higher in April 2026, signaling a modest stabilization in the housing market as easing affordability pressures and slightly lower borrowing costs offset still-tight supply conditions, according to data from the National Association of Realtors.
Sales of previously owned homes rose 0.2% from March 2026 to a seasonally adjusted annual rate of 4.02 million, unchanged from a year earlier. The gains were uneven across regions, with strength concentrated in the Midwest and South, flat conditions in the Northeast, and a pullback in the West.
"Despite mixed macroeconomic signals--including a record-high stock market and historically low consumer confidence--home sales were modestly boosted by the continued improvement in housing affordability," said Lawrence Yun, chief economist at the National Association of Realtors. He noted that mortgage rates have eased from a year ago and income growth continues to outpace home price appreciation.
Still, Yun emphasized that supply constraints remain a defining feature of the market. "Inventory still remains tight," he said, adding that multiple-offer situations persist in some segments, even if competition is less intense than during the pandemic-era peak. Homes are also taking longer to sell on average, suggesting buyers are becoming more selective as conditions normalize.
Inventory rose to 1.47 million units, up 5.8% from March and 1.4% from a year earlier, representing a 4.4-month supply of unsold homes. The median existing-home price climbed to $417,700, up 0.9% year-over-year, marking the 34th consecutive month of annual price gains.
Affordability improved meaningfully. The Housing Affordability Index rose to 110.6 from 101.4 a year ago, with all regions posting year-over-year gains, led by the West.
Mortgage conditions remain a key swing factor. The average 30-year fixed-rate mortgage stood at 6.33% in April, according to Freddie Mac, down from last year but slightly higher than March.
Single-family home sales were unchanged on the month at a 3.64 million annualized pace, while condo and co-op sales rose 2.7% to 380,000. Price trends remained broadly firm, with single-family homes up 1.0% year-over-year and condos rising 1.1%.
Regionally, the South posted the strongest annual performance with sales up 2.7%, while the West was flat. The Northeast saw an 8.2% annual decline, though prices in the region continued to rise. The Midwest recorded a 1.0% yearly decline despite monthly gains.
Market behavior indicators suggest a gradual normalization. Median days on market fell to 32 from 41 in March but remained higher than a year earlier. First-time buyers accounted for 33% of transactions, slightly higher than the prior month, while cash deals and investor activity both eased.
Distressed sales remained minimal at 2% of total transactions, unchanged from prior months, underscoring continued stability in credit conditions despite broader economic uncertainty.
