by Improvements in housing affordability could boost sales in the late spring and summer months
WASHINGTON — April existing home sales were flat from a year earlier and barely budged from March, according to recently released information from the National Association of Realtors.
The lackluster activity likely had some impact on retail furniture sales which were down 3.5% from April 2025, according to the Department of Commerce figures published this past week.
Compared with April 2025, sales were flat at 4.02 million, rising in the South, level in the West and falling in the Northeast and Midwest. They were up .2% from 4.01 million in March, rising in the Midwest and South, level in the Northeast and falling 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 NAR Chief Economist Lawrence Yun. “Mortgage rates are lower from a year ago, and average income growth is outpacing home price gains.”
Citing Freddie Mac, the NAR said that the average 30-year, fixed-rate mortgage was 6.33%, down from 6.73% in April 2025 and down from 6.18% in March.
Single-family home sales totaled 3.64 million, or 90.5% of the total, down .3% from April 2025 and level with March. The median single-family home price was $422,300, up 1% from April 2025.
Condominium and co-op sales represented the balance, up 2.7% from April 2025 and March. The median price was $374,100, up 1.1% from April 2025.
The median price for all three home types was $417,700, up .9% from $414,000 in April 2025, representing the 34th consecutive month of year-over-year price increases.
The report also noted that the total available existing home inventory was 1.47 million units, up 1.4% from April 2025 and up 5.8% from March. This represents a 4.4-month supply of unsold inventory, up from 4.3 months in April 2025 and up from 4.2 months in March.
“Inventory still remains tight,” Yun said. “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.”
He added that an increase in second-home purchases reflects stronger finances among higher-income households, plus a post-COVID rise in remote work and hybrid job schedules.
On a regional basis, activity was as follows:
+ In the Northeast, sales totaled 450,000, down 8.2% year over year and unchanged from March. The median price was $510,800, up 4.8% from April 2025.
+ In the Midwest, sales totaled 950,000, down 1% year over year and up 2.2% month over month. The median price was $324,500, up 3.6% from April 2025.
+ In the South, existing home sales totaled 1.87 million, up 2.7% from April 2025 and up .5% from March. The median price was $366,600, up .4% from April 2025.
+ In the West, existing Home sales totaled 750,000, unchanged from April 2025 and down 2.6% from March. The median home price was $619,600, down 1.4% from April 2025.
Other highlights of the report were as follows:
+ Homes were on the market for a median of 32 days, up from 29 days in April 2025 and down from 41 days in March.
+ Some 33% of sales were first-time homebuyers, down from 34% in April 2025 and up from 32% in March.
+ A quarter of transactions were cash sales, level with April 2025 and down from 27% in March.
+ About 16% of transactions were individual investors or second-home buyers, up from 15% in April 2025 and down from 18% in March.
+ Two percent of sales were either foreclosures or short sales, unchanged from a year ago and from March.
