Existing-Home Sales Eke Out 0.2% Gain in April 2026 as Inventory Rises to 4.4-Month Supply
The National Association of REALTORS® (NAR) reported that existing-home sales in April 2026 crept up by 0.2% from March to a seasonally adjusted annual rate (SAAR) of 4.02 million units. While flat on a year-over-year basis, the report highlights a slow thaw in the resale market, accompanied by rising inventory levels and improved housing affordability.
Key Metrics from the April 2026 Report:
- Sales Volume: 4.02 million SAAR (+0.2% MoM, unchanged YoY).
- Housing Inventory: Unsold inventory rose 5.8% month-over-month to 1.47 million units (up 1.4% YoY). This represents a 4.4-month supply of homes at the current sales pace, up from 4.2 months in March and 4.3 months in April 2025.
- Median Sales Price: $417,700, up 0.9% from April 2025 ($414,000). This marks the 34th consecutive month of year-over-year price increases, though the rate of price growth has moderated.
- Housing Affordability: The Housing Affordability Index rose to 110.6, up substantially from 101.4 a year ago. Affordability improved across all regions, led by a 12.5% improvement in the West and 9.6% in the South.
- Mortgage Rates: The average 30-year fixed-rate mortgage was 6.33% in April, up from 6.18% in March but down from 6.73% in April 2025.
NAR Chief Economist Dr. Lawrence Yun noted that buyers are seeing slightly better dynamics but remain deliberate:
"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... Inventory still remains tight... At the same time, days on market are lengthening on average, implying that consumers are taking their time before making decisions."
Regional Performance:
- Midwest: Sales rose 2.2% MoM (down 1.0% YoY); median price of $324,500 (+3.6% YoY).
- South: Sales rose 0.5% MoM (+2.7% YoY); median price of $366,600 (+0.4% YoY).
- Northeast: Sales were flat MoM (down 8.2% YoY); median price of $510,800 (+4.8% YoY).
- West: Sales fell 2.6% MoM (flat YoY); median price of $619,600 (-1.4% YoY).
The steady climb in existing-home inventory to a 4.4-month supply is a key metric to watch. If inventory continues to build, it may ease the intense price pressures that have dominated the market over the last three years, giving buyers more options and helping to balance the supply-demand equation.