New listings posted their biggest jump since November, but a breakout spring proved elusive
More homeowners have started putting out “for sale” signs as spring progresses, but the US housing market in mid‑April still moves at a measured pace rather than a sprint.
New listings of homes for sale rose 3% year over year in the four weeks ending April 19, the biggest increase since November, according to Redfin’s national tracking of more than 400 metro areas.
Pending sales slipped just 1.2% from a year earlier, the smallest decline in about a month, while mortgage‑purchase applications climbed 10% week over week and 14% year over year.
Median sale prices rose 2% to $394,687 and the median monthly payment dipped 1.4% to about $2,740 at a 6.3% rate.
Listings rose, but buyers stayed cautious
Even with that nudge in supply, active listings still fell 2.6% from a year earlier, the steepest decline since 2023.
Homes spent a median 46 days on market, four days longer than a year before, and just under 39% of properties went under contract within two weeks.
Roughly one in four homes sold above list price, slightly below last year’s share, and the average sale‑to‑list price ratio slipped to 98.7%.
Market sentiment also remained fragile. Redfin economists pointed to an easing in Iran‑related geopolitical tensions and a pullback in oil prices as one factor behind the recent rate dip, while cautioning that mortgage rates have hovered above 6% for nearly four years and could remain volatile.
Rates in the low‑6% range reshape 2026 outlook
Redfin agent Adrianna Berlin in Grand Rapids, Mich., said many clients adjusted to the new normal for borrowing costs rather than waiting for a return to pandemic‑era rates.
“The leaves are turning green, the flowers are blooming, and more sellers are listing their homes in hopes of moving before the next school year starts,” Berlin said.
“While some people are holding off on selling or buying because they’re holding out hope that mortgage rates will plummet, most have come to terms with today’s costs. The people who need to move this summer are starting to list their homes or prepare for listing.”
Agents leaned on a narrow spring window
For would‑be sellers, timing remained crucial. Redfin’s latest analysis found that late April has been the best time to list a home nationally this year, echoing earlier research from Zillow that identified the same window as historically lucrative for sellers.
Regional patterns also mattered. Redfin data showed double‑digit annual price gains in Midwest and Northeast metros such as Detroit, Cleveland and Providence, while markets like Austin, Seattle and Las Vegas posted modest declines.
For lenders, originators and brokers, a slight easing in mortgage costs and a modest bump in listings have nudged the market off the winter lows, but have not delivered a breakout spring.
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