Sales of existing homes inched up in April, driven by modest gains in affordability that managed to outweigh market uncertainty stemming from the ongoing conflict in the Middle East.
Existing-home sales rose 0.2% last month from March to a seasonally adjusted annual rate of 4.02 million but remained unchanged year over year, the National Association of Realtors® reported Monday.
Month-over-month sales of previously owned homes accelerated in the Midwest and the South, were flat in the Northeast, and declined in the West. Compared to last April, sales rose in the South, were stagnant in the West, and fell in both the Northeast and Midwest.
Condominiums and co-ops led the gains with a 2.7% increase on both a monthly and annual basis. Meanwhile, single-family home sales remained flat month over month and dipped 0.3% compared to a year ago.
"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," says NAR Chief Economist Lawrence Yun. "Mortgage rates are lower from a year ago, and average income growth is outpacing home price gains."
A closer look at regional sales data shows that the West experienced the sharpest decline as sales slid 2.6% from March to an annual rate of 750,000.
The Midwest led the monthly gains with a 2.2% jump to 950,000, while the South saw a modest 0.5% uptick to 1.87 million—a 2.7% increase over last year.
Meanwhile, the inventory-starved Northeast remained flat for the month, though sales there have plummeted 8.2% since April 2025.
Total housing inventory in April rose 5.8% from March and 1.4% from a year ago, reaching 1.47 million.
"Inventory still remains tight," says Yun. "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."
This is a developing story. Please check back for updates.
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Snejana Farberov is a reporter at Realtor.com covering the U.S. housing market and the latest domestic real estate trends. She has worked as a general assignment journalist in New York City and Long Island for 16 years, writing for New York Post, Daily Mail, and News 12. Snejana earned bachelor's degrees in journalism and Italian from St. John's University, followed by a master’s degree from Columbia University School of Journalism.
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