Spring Housing Market Holds Its Ground Despite Economic Headwinds, According to Realtor.com® April Housing Report

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Apr 30, 2026, 06:00 ET

Prices Fall for a Sixth Straight Month, and Fewer Price Cuts Signal Sellers are Coming to Market More Realistic Pricing

AUSTIN, Texas, April 30, 2026 /PRNewswire/ -- Despite a turbulent start to the month marked by spiking gas prices, surging mortgage rates, and cratering consumer sentiment, the spring housing market showed surprising resilience in April, according to the Realtor.com ^® April 2026 Monthly Housing Trends Report released today. New listings climbed 1.1% year-over-year, median list prices fell for the sixth straight month, and the share of sellers cutting prices actually declined — signaling that rather than panicking, sellers are entering the market with realistic expectations.

"The worry going into April was that history would repeat itself," said Danielle Hale, Chief Economist, Realtor.com^®. "Last spring, tariff-driven uncertainty and recession fears hit in early April, sidelining sellers and buyers and setting up a cruel summer marked by parties too far apart to transact. This year, different triggers like the Iran conflict, spiking gas prices, surging mortgage rates have threatened the same outcome. The hope was that sellers would continue coming to market at the strong March pace, and that buyers would keep engaging despite the volatility. By those measures, April delivered."

Metric	April 2026	Change over March 2026 (MoM)	Change over Apr. 2025 (YoY)	Change over Apr. 2019	Change over Apr. 2022
Median listing price	$425,000	2.3 %	-1.4 %	34.9 %	1.3 %
Active listings	1,002,935	4.0 %	4.6 %	-11.8 %	163.9 %
New listings	477,116	8.7 %	1.1 %	-13.6 %	-3.7 %
Median days on market	52	-6	2	-2	22
Share of active listings with price reductions	16.7 %	0.5	-1.2	2.3	9.9
Median List Price Per Sq.Ft.	$227	1.1 %	-2.4 %	50.3 %	3.8 %

New Listings Grow Despite Geopolitical Worry

New listings rose 8.7% month over month and 1.1% year over year in April. The gains were especially pronounced in the Northeast (+9.4% year over year) and Midwest (+6.6%), two regions that have struggled with tight inventory for years. The South and West posted much more modest movement (+0.6% and -3.5%, respectively). At the metro level, Virginia Beach, Indianapolis and Louisville, Ky., led the nation in new listing growth.

The strength of new listings is particularly meaningful given what happened a year ago. Last spring, seller activity collapsed almost immediately when economic uncertainty hit, setting up a season where buyers and sellers were simply too far apart to transact. April's results suggest that this year's sellers — particularly in the inventory-starved Northeast and Midwest — are choosing engagement over retreat.

Prices Fall for Sixth Straight Month; Sellers Pricing to Move

The national median list price was $425,000 in April, up 2.3% from March in a typical seasonal pattern, but down 1.4% year over year — extending a streak of flat or declining annual prices that now spans the past nine months. Price per square foot, which accounts for the changing size mix of homes on the market, fell 2.4% year over year to $227.

Year-over-year median list price declines were recorded across all four major regions, ranging from -3.1% in the West to -0.1% in the Midwest. The sharpest declines were concentrated in the South and West: Memphis (-12.9%), Austin (-9.5%), and Los Angeles (-8.1).

Perhaps the most telling price signal in April came from what did not happen: price cuts fell rather than spiked. The share of active listings with a price reduction declined 1.2 percentage points year over year to 16.7% — even as overall list prices continued to soften.

"Compared to last year, 2026 has seen both fewer price cuts and lower median list prices," said Jake Krimmel, Senior Economist, Realtor.com^®. "That combination suggests sellers have internalized the generally more buyer-friendly market conditions and are adjusting price expectations before listing rather than after. This is a meaningful behavioral shift."

Active Inventory Continues to Rise, Though Growth Is Decelerating

Active listings rose 4.6% year over year to 1,002,935 in April, a continued improvement even as the pace of growth has moderated from last month's 8.1% gain. National inventory remains 11.8% below typical 2017–2019 pre-pandemic levels, down from a 13.8% deficit last month.

Notably, new listings growth is slightly accelerating while active inventory growth is decelerating — a divergence that implies fresher inventory cycling through the market. Whether that translates into more sales will be the key question for May.

Homes Still Taking Longer to Sell — But Market Remains Faster Than Pre-Pandemic

In April, the median home spent 52 days on market, two days longer than a year ago — marking the 25th consecutive month of year-over-year deceleration in the pace of sales. Even so, homes are still selling four days faster than pre-pandemic norms. Time on market edged higher across all three of the four regions (Midwest +3; South +3; West +4 days) and dropped in the Northeast (-1 day.)

Mortgage Rate Volatility Fades; Buyers Remain Engaged

After peaking at 6.46% on April 2nd, mortgage rates fell for three consecutive weeks, finishing the month below 6.30%. While rates remain higher than they've been over most of the last 6 months, they are meaningfully lower than the prior two Aprils — 7.17% in April 2024 and 6.81% in April 2025 — providing buyers with a genuine affordability improvement compared to recent springs. Mortgage purchase applications, which had slipped in March, rebounded in April, consistent with the uptick in new listings and suggesting buyers have not been fully sidelined by the volatility.

"Although rates have eased from their peak in early April, they are still higher than earlier this year, but well below the past two Aprils," said Krimmel. " Between the rebound in mortgage purchase applications and the continued rise in new listings, it looks as though buyers are relatively unfazed by the volatility. Even so, a resolution to the recent geopolitical uncertainty would do a world of good for the U.S. consumer and homebuyer."

Looking Ahead to May

The key variables to monitor heading into May are whether new listing momentum holds — particularly in the Northeast and Midwest, where those gains are critical to breaking the high-price, low-inventory lock-in cycle — and whether lower list prices translate into more pending sales. New listings growth is accelerating while active inventory growth is decelerating, a gap that implies more sales and fresher inventory. May's pending sales data will confirm whether the price correction is working.

"It's too early to declare the spring housing market has weathered the storm, but there's renewed reason for cautious optimism," said Krimmel. "The leading indicators that would signal trouble — seller pullback, spiking cancellations, surging price cuts — are, if anything, moving in the right direction. New listings are up, contract cancellations are normal, and seller price cuts that can reveal concern are down."

April 2026 Regional and Metro Housing Overview

Region	Active Listing Count, YoY	New Listing Count, YoY	Median List Price	Median List Price, YoY	Median List Price Per SF, YoY	Median Days on Market, Y-Y (Days)	Price Reduced Share	Price Reduced Share, Y-Y (Percentage Points)
Northeast	9.3 %	9.4 %	$537,450	-2.3 %	-0.3 %	-1	10.2 %	0.4
Midwest	11.5 %	6.6 %	$319,450	-0.1 %	1.3 %	3	13.4 %	0.6
South	1.8 %	0.6 %	$386,500	-2.6 %	-3.4 %	3	18.8 %	-1.8
West	5.8 %	-3.5 %	$599,450	-3.1 %	-1.7 %	4	17.9 %	-1.1
National Average	4.6 %	1.1 %	$425,000	-1.4 %	-2.4 %	2	16.7 %	-1.2

Metro	Active Listing Count YoY	New Listing Count, YoY	Median List Price	Median List Price, YoY	Median List Price Per SF, YoY	Median Days on Market, YoY (Days)	Price Reduced Share	Price Reduced Share, YoY (Percentage Points)
Atlanta-Sandy Springs- Roswell, GA	4.3 %	-4.1 %	$422,400	2.4 %	-0.2 %	3	19.5 %	-1.4
Austin-Round Rock-San Marcos, TX	-0.2 %	-13.5 %	$475,000	-9.5 %	-7.7 %	7	23.6 %	-2.3
Baltimore-Columbia- Towson, MD	11.3 %	3.6 %	$380,500	-3.1 %	-0.8 %	3	14.9 %	1.5
Birmingham, AL	7.5 %	2.5 %	$299,650	-0.1 %	0.8 %	2	16.3 %	0.2
Boston-Cambridge-Newton, MA-NH	13.9 %	-3.8 %	$832,500	-5.2 %	0.3 %	0	12.0 %	-0.1
Buffalo-Cheektowaga, NY	20.5 %	-0.4 %	$264,750	-5.4 %	0.4 %	2	5.4 %	-1.1
Charlotte-Concord-Gastonia, NC-SC	20.4 %	6.2 %	$429,950	-2.2 %	-1.8 %	3	21.0 %	-0.1
Chicago-Naperville-Elgin, IL- IN	-2.6 %	-5.2 %	$375,000	0.7 %	0.9 %	1	10.1 %	-0.4
Cincinnati, OH-KY-IN	26.5 %	13.7 %	$347,635	0.0 %	-0.3 %	3	14.8 %	1.7
Cleveland, OH	9.2 %	7.8 %	$262,225	-2.0 %	1.9 %	1.5	13.4 %	0.4
Columbus, OH	12.7 %	18.0 %	$372,400	-1.3 %	-1.5 %	4.5	17.2 %	-1.6
Dallas-Fort Worth-Arlington, TX	0.1 %	-5.9 %	$430,000	0.0 %	-1.8 %	2.5	22.1 %	-3.7
Denver-Aurora-Centennial, CO	0.5 %	-12.6 %	$587,000	-2.1 %	-3.2 %	3.5	24.3 %	-2.8
Detroit-Warren-Dearborn, MI	20.0 %	6.7 %	$248,900	-1.8 %	0.5 %	2.5	13.5 %	0.9
Hartford-West Hartford-East Hartford, CT	-6.9 %	-4.2 %	$464,900	2.5 %	-1.4 %	-5	6.2 %	-0.4
Houston-Pasadena-The Woodlands, TX	6.9 %	-3.5 %	$359,897	-2.7 %	-2.3 %	4.5	18.2 %	-1.0
Indianapolis-Carmel- Greenwood, IN	32.4 %	21.1 %	$318,400	-3.3 %	5.4 %	0.5	19.9 %	0.1
Jacksonville, FL	-21.3 %	-8.1 %	$395,000	-1.2 %	-2.4 %	1	22.6 %	-5.1
Kansas City, MO-KS	26.1 %	-2.5 %	$412,485	3.3 %	0.3 %	-6	11.1 %	-1.5
Las Vegas-Henderson-North Las Vegas, NV	12.1 %	-8.8 %	$474,950	0.0 %	-2.2 %	7.5	21.6 %	0.3
Los Angeles-Long Beach- Anaheim, CA	6.8 %	-3.3 %	$1,098,500	-8.1 %	-3.3 %	2	13.2 %	-1.1
Louisville/Jefferson County, KY-IN	33.9 %	19.2 %	$311,443	-4.2 %	0.8 %	-0.5	17.7 %	3.0
Memphis, TN-MS-AR	16.4 %	9.9 %	$300,995	-12.9 %	-5.8 %	-2	22.3 %	1.6
Miami-Fort Lauderdale-West Palm Beach, FL	-12.9 %	-7.2 %	$499,250	-2.1 %	-1.6 %	5	15.7 %	-4.4
Milwaukee-Waukesha, WI	18.3 %	14.3 %	$392,500	1.9 %	3.4 %	6.5	9.4 %	0.7
Minneapolis-St. Paul- Bloomington, MN-WI	16.5 %	10.7 %	$432,500	-3.3 %	-0.9 %	0.5	12.2 %	1.6
Nashville-Davidson-- Murfreesboro--Franklin, TN	15.7 %	7.3 %	$538,901	-1.9 %	-1.2 %	3	18.7 %	-0.1
New York-Newark-Jersey City, NY-NJ	6.2 %	11.4 %	$772,929	-2.1 %	-1.3 %	-4	8.3 %	0.6
Oklahoma City, OK	7.9 %	6.5 %	$319,598	-0.8 %	-0.7 %	8.5	19.1 %	0.7
Orlando-Kissimmee- Sanford, FL	-4.0 %	-9.0 %	$419,000	-1.4 %	-3.3 %	6	20.8 %	-2.6
Philadelphia-Camden- Wilmington, PA-NJ-DE-MD	11.2 %	9.9 %	$372,450	-0.7 %	0.0 %	0.5	13.0 %	0.5
Phoenix-Mesa-Chandler, AZ	-0.2 %	-4.9 %	$499,000	-5.0 %	-1.7 %	5	29.1 %	-2.2
Pittsburgh, PA	9.7 %	10.5 %	$248,625	2.0 %	2.7 %	3.5	14.6 %	-1.1
Portland-Vancouver- Hillsboro, OR-WA	7.2 %	-6.1 %	$579,750	-5.7 %	-2.7 %	2.5	24.0 %	0.7
Providence-Warwick, RI-MA	7.7 %	3.8 %	$577,475	-1.3 %	7.5 %	-2.5	8.0 %	-0.1
Raleigh-Cary, NC	9.9 %	3.6 %	$449,950	-0.3 %	-2.0 %	1	19.0 %	-1.1
Richmond, VA	4.7 %	6.3 %	$449,975	-2.0 %	2.2 %	1.5	10.5 %	0.6
Riverside-San Bernardino- Ontario, CA	-0.4 %	-5.6 %	$596,500	-1.0 %	-2.3 %	2.5	16.0 %	-2.4
Sacramento-Roseville- Folsom, CA	2.6 %	-5.7 %	$628,520	-0.8 %	-0.2 %	0.5	16.6 %	-1.3
Salt Lake City-Murray, UT	4.8 %	2.5 %	$552,450	-3.9 %	-0.1 %	0.5	20.9 %	-3.1
San Antonio-New Braunfels, TX	9.5 %	7.3 %	$324,700	-4.5 %	-5.8 %	-4.5	24.9 %	-0.7
San Diego-Chula Vista- Carlsbad, CA	-0.1 %	-5.5 %	$933,325	-4.7 %	-4.1 %	1	14.9 %	-2.9
San Francisco-Oakland- Fremont, CA	-12.9 %	-1.5 %	$998,400	0.3 %	-3.0 %	-2	11.4 %	-2.0
San Jose-Sunnyvale-Santa Clara, CA	8.6 %	0.9 %	$1,398,500	-0.1 %	-2.5 %	3.5	13.1 %	1.1
Seattle-Tacoma-Bellevue, WA	32.3 %	2.4 %	$776,232	-0.8 %	-3.0 %	4	16.2 %	1.8
St. Louis, MO-IL	14.8 %	4.6 %	$285,738	-3.1 %	1.1 %	3.5	13.8 %	0.4
Tampa-St. Petersburg- Clearwater, FL	-7.0 %	-15.7 %	$406,500	-0.9 %	-2.8 %	9.5	25.1 %	-4.2
Tucson, AZ	2.1 %	-13.9 %	$386,000	-2.6 %	-2.0 %	7	23.4 %	-0.1
Virginia Beach-Chesapeake- Norfolk, VA-NC	4.0 %	23.8 %	$425,000	3.7 %	2.2 %	-0.5	15.6 %	-0.4
Washington-Arlington- Alexandria, DC-VA-MD-WV	11.2 %	4.9 %	$584,995	-6.1 %	-3.6 %	4	12.8 %	-0.9

Methodology

Realtor.com housing data as of April 2026. Listings include the active inventory of existing single-family homes and condos/townhomes/row homes/co-ops for the given level of geography on Realtor.com; new construction is excluded unless listed via an MLS that provides listing data to Realtor.com. Realtor.com data history goes back to July 2016. The 50 largest U.S. metropolitan areas as defined by the Office of Management and Budget (OMB-202301) and Claritas 2025 estimates of household counts.

Beginning with our April 2025 report, we have transitioned to a revised national pending home sales data series that applies enhanced cleaning methods to improve consistency and accuracy over time. While the insights and commentary in this report reflect the new series, the downloadable data remains based on our legacy automated pipeline. As a result, there may be slight differences between the report figures and those in the national download file as we transition.

With the release of its January 2025 housing trends report, Realtor.com® restated data points for some previous months. As a result of these changes, some of the data released since January 2025 is not directly comparable with previous data releases (files downloaded before January 2025) and Realtor.com® economics research reports.

Methodology for cancellations: A contract cancellation is counted if a listing was pending on one day and then back to active the next. It may miss a few that have been entirely delisted.

About Realtor.com^®Realtor.com^® pioneered online real estate and has been at the forefront for over 25 years, connecting buyers, sellers, and renters with trusted insights, professional guidance and powerful tools to help them find their perfect home. Recognized as the No. 1 site trusted by real estate professionals, Realtor.com^® is a valued partner, delivering consumer connections and a robust suite of marketing tools to support business growth. Realtor.com^® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc.

Media contact: Mallory Micetich, [email protected]

SOURCE Realtor.com