A M. Appraisals Blog

Nationally, U.S. existing-home sales fell 3.6% month-over-month and 1.0% year-over-year to a seasonally adjusted annual rate of 3.98 million, pending home sales rose 1.5% month-over-month, exceeding economists’ expectations and marking the second consecutive monthly increase, according to the National Association of REALTORS®. Contract signings advanced in the South and Northeast but declined in the Midwest and West. Year-over-year, pending home sales were higher in the South but lower in the Northeast, Midwest, and West. For the 12-month period spanning May 2025 through April 2026, Pending Sales in the Consolidated Multiple Listing Service, Inc. region went up 6.4 percent overall. The price range with the largest pending sales gain was the $1,000,001 and Above range, where sales went up 21.4 percent.

The overall Median Sales Price went up 1.8 percent to $279,900. The property type with the largest gain was the Single-Family Homes segment, where prices rose 2.1 percent to $290,000. The price range that tended to sell the quickest was the $150,001 to $250,000 range at 49 days. The price range that tended to sell the slowest was the $1,000,001 and Above range at 58 days.

New Listings were up 13.3 percent to 2,005. Pending Sales increased 10.3 percent to 1,546. Inventory grew 32.7 percent to 3,625 units.

Market-wide, inventory levels increased 32.7 percent. The property type with the largest gain was the Single-Family Homes segment, where the number of properties for sale rose 32.8 percent. That amounts to 3.0 months of inventory for Single-Family Homes and 3.3 months of inventory for Condos.

Nationally, the median existing-home price rose 1.4% from a year earlier to $408,800, marking the 33rd consecutive month of year-over-year price increases as limited inventory continued to put upward pressure on prices, NAR said. There were 1.36 million homes for sale heading into April, up 2.3% from a year earlier, representing a 4.1-month supply at the current sales pace.