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13h ago

U.S. Existing-Home Sales Edge Up as Inventory Builds and April Prices Set a Record

Mortgage costs near the mid‑6% range are keeping many buyers on the sidelines.

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A "For Sale" sign stands in front of a house, on the North Shore of Long Island city of Glen Cove, New York, U.S., August 12, 2025. REUTERS/Shannon Stapleton/File Photo
FILE - A for sale sign is posted outside a home, Feb. 10, 2026, in Nashville, Tenn. (AP Photo/George Walker IV, file)
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Overview

  • National Association of Realtors data released Monday showed sales up 0.2% in April to a 4.02 million annual rate, unchanged from a year earlier.
  • Listings rose to 1.47 million homes, equal to 4.4 months of supply, which is still shy of the roughly six months seen as a balanced market.
  • The median sale price reached $417,700, up 0.9% year over year, marking the highest April on record.
  • Economists had expected 4.05 million sales, and analysts note rates around 6.3%–6.4% have kept demand rate‑sensitive; Reuters linked recent rate pressure to inflation tied to Middle East tensions.
  • Sales rose in the South and Midwest, fell in the West, and were flat in the Northeast; NAR noted these closings reflect contracts from late February and March, when mortgage rates jumped.