Housing activity remained subdued at the start of the spring buying season as elevated prices and mortgage rates continued weighing on buyers.
By yourNEWS Media Newsroom
American home sales rose only slightly in April, falling short of expectations and signaling continued weakness in the housing market despite modest improvements in affordability.
According to the National Association of Realtors, existing home sales increased 0.2 percent from March on a seasonally adjusted annual basis, reaching a pace of 4.02 million homes sold compared to 4.01 million the previous month.
Compared with April 2025, sales were effectively unchanged.
The data reflected a sluggish start to the traditional spring home-buying season, with high home prices and elevated mortgage rates continuing to suppress buyer demand.
Regional sales activity was mixed across the country.
The Midwest and South posted month-over-month increases, while sales were unchanged in the Northeast and declined in the West.
Year over year, only the South recorded an increase in sales activity. Sales were flat in the West and declined in both the Northeast and Midwest.
“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 Lawrence Yun.
Yun noted that mortgage rates remain lower than a year ago and said wage growth has continued to outpace increases in home prices.
Housing inventory also increased during the month, following a seasonal pattern common during the spring market.
The NAR reported that 1.47 million homes were available for sale in April, representing a 5.8 percent increase from March and a 1.4 percent increase compared to April of last year.
At the current sales pace, the available inventory would equal approximately 4.4 months of supply, up from 4.2 months in March and 4.3 months one year earlier.
While the number of homes on the market remains below pre-pandemic levels, the slower sales pace has caused inventory ratios to rise above some pre-2020 benchmarks.
The report highlights the continuing imbalance facing the U.S. housing market, where affordability pressures and financing costs continue limiting transaction activity even as inventory slowly improves.
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