April home sales were up 11.3% from March, according to the latest RE/MAX National Housing Report, continuing the month-over-month growth trend that began in January within the 51 metro areas surveyed for the data analysis. Compared to one year earlier, sales were down by 1.4%.
New listings were up 6.2% month-over-month and up 7.5% year-over-year. The markets with the biggest increase in year-over-year new listings percentage were Las Vegas (+27.7%), Burlington, Vermont (+24.8%), and Fayetteville, Arkansas (+22.5%). The markets with the biggest year-over-year decrease in new listings percentage were St. Louis at (-17.2%), Anchorage, Alaska (-8.4%), and Kansas City (-7.8%). Inventory was up 7.0% from March and up 35.7% from April 2024 – this marked the 16th consecutive month of annual growth.
Days on the market in April dropped to 40 days compared to 44 in March, while homes were on the market six days less in April 2024. The months’ supply of inventory was 2.3, up slightly from 2.2 in March and up from 1.7 a year ago.
April’s median sales price of $440,000 was $5,000 (1.2%) higher than March and $10,000 (2.3%) more than one year ago. Buyers paid 99% of the asking price in April – the same as in March but slightly below the 100% in April 2024.
“April’s housing market showed some encouraging growth, with home sales increasing and days on market decreasing compared to March. The uptick in closings was a welcome development,” said RE/MAX Holdings CEO Erik Carlson. “For-sale inventory increased with plenty of sellers ready to meet demand. However, we still need to see more buyers entering the market.”
