Existing home sales during increased squeaked up by 0.2% from March, according to the National Association of Realtors (NAR). There was no change from the volume of sales recorded one year earlier.
Month-over-month sales increased in the Midwest and the South, were unchanged in the Northeast, and declined in the West. On a year-over-year basis, sales were up in the South, were flat in the West, and fell in both the Northeast and Midwest.
Total housing inventory was up 5.8% from March and 1.4% from April 2025. April saw a 4.4-month supply of unsold inventory, up from 4.2 months last month and up from 4.3 months one year ago.
The $417,700 median existing-home price for all housing types marked a 0.9% increase from one year ago ($414,000), resulting in the 34th consecutive month of year-over-year price increases. NAR’s Housing Affordability Index registered at 110.6, up from 101.4 a year ago.
“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 NAR Chief Economist Lawrence Yun. “Mortgage rates are lower from a year ago, and average income growth is outpacing home price gains. Inventory still remains tight. Multiple offers, though not as intense as a few years ago, are still occurring. At the same time, days on market are lengthening on average, implying that consumers are taking their time before making decisions.”
Yun added, “The increase in second-home purchases reflects stronger finances among higher-income households, as well as the post-Covid rise in remote work and hybrid job schedules.”
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