Sales of newly-built homes dropped in April while prices climbed, as the housing market continues a roller-coaster ride in 2026.
Contract signings for newly built homes fell to a seasonally adjusted annual rate of 622,000 in April, down 6.2% compared to March, the U.S. Census Bureau and Department of Housing and Urban Development reported on Thursday. That's 11.3% below the 701,000 pace in April 2025.
New home prices, though, rose to $422,500. That's 8% above the median sales price of a new house in March, and 2.2% above April 2025.
Though, the average sales price was $508,000, which is 0.7% above March and 1.1% below April 2025. Average sales prices generally better reflect large outliers such as very expensive homes.
It's been a bumpy year for home sales. January saw a sharp decline in sales—the biggest drop in 13 years—while the numbers improved in February and March. It comes at a time when the 30-year fixed rate remains high. It averaged 6.51% last Thursday, according to Freddie Mac.
Home prices are moderating in many cities, according to data from the S&P Cotality Case-Shiller Index released earlier this week. That meant sharper home price declines in Seattle, but many other cities are seeing the same thing.
Developing story, more to follow.
Tristan Navera is a senior reporter on housing policy, covering trends and solutions in the housing market from Washington, DC. He was previously a senior reporter at Bloomberg Law, and before that covered real estate for the Washington Business Journal. Earlier in his career, he spent a decade reporting on business and real estate in Dayton and Columbus, OH. A Cincinnati native, he holds a journalism degree from Ohio University.
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