April’s housing data shows a market that is still steady, but buyers are finally getting a little more room to breathe.
According to the National Association of Realtors (NAR), existing home sales totaled 354,000 in April 2026. That’s up +7.6% from revised March, with March revised to 329,000 from initial 327,000, and up +1.4% YoY compared to 349,000 in April 2025.
The real headline is inventory. NAR reported active inventory at 1.47 million units, up +5.8% from March and +1.4% higher than a year ago. Zillow tracked 1.3 million active listings, also up +5.8% from March and +3.7% higher than a year ago. That marks the 28th consecutive month of annual inventory gains per Zillow.
Homes took a median of 17 days to go pending in April, according to Zillow. That’s one day longer than a year earlier and two days shorter than March. So, while buyers may have more homes to choose from, the inspection window can still move fast once a deal is in motion.
Regionally, prices are a bit split. NAR reported the national median existing home price at $417,700, up +0.9% YoY and marking the 34th consecutive month of year-over-year price increases. The Northeast led with a +4.8% gain to $510,800, and the Midwest rose +3.6% to $324,500. The South was nearly flat at +0.4% to $366,600, while the West dipped -1.4% to $619,600.
Mortgage rate forecasts are still sitting in the mid-6% range. Fannie Mae expects the 30-year mortgage rate to average 6.3% in 2026 and 6.2% in 2027. Mortgage Bankers Association (MBA) forecasts 6.1% in Q1 2026, rising to 6.4%–6.5% through year-end, and 6.5% in 2027. The Freddie Mac weekly average was 6.18% in March, rising to 6.46% in early April before dropping back to 6.23% by late April.
NAR reported 4.02 million existing home sales on a seasonally adjusted annual rate basis for April 2026, up +0.2% from revised March at 4.01 million and flat YoY compared to April 2025 at 4.02 million.
Current Forecasts
Forecasts for 2026 Home Sales (May ’26 forecast)
- NAR: +4.0% (4.22 million existing home sales vs. 4.06 million) – revised April 2026
- MBA: +3.3% (4.91 million total home sales vs. 4.76 million) – May ’26 forecast
- Fannie: +2.1% (4.85 million total home sales vs. 4.76 million) – May ’26 forecast
- Zillow: +0.5% (4.08 million existing home sales vs. 4.06 million) – May ’26 forecast
Forecasts for 2027 Home Sales (May ’26 forecast)
- MBA: +6.6% (5.23 million total home sales vs. 4.91 million) – May ’26 forecast
- Fannie: +6.7% (5.18 million total home sales vs. 4.85 million) – May ’26 forecast
MBA Forecast for Mortgage Originations (May ’26 forecast)
- 2026 Total Mortgage Originations: +4.2% (5.69 million loans vs. 5.46 million)
- Purchase: +2.3% (3.53 million loans vs. 3.45 million)
- Refi: +7.4% (2.16 million vs. 2.01 million)
- 2027 Total Mortgage Originations: -0.3% (5.67 million loans vs. 5.69 million)
- Purchase: +5.9% (3.73 million loans vs. 3.53 million)
- Refi: -10.3% (1.94 million vs. 2.16 million)
The Takeaway
Inventory is still moving in the right direction, and sales are slightly up from last year. That’s good news for inspectors who have been waiting for more buyers to get into the mix. But with homes still going pending in 17 days and rates expected to stay in the mid-6% range, the market is not exactly moribund. Keep an eye on local inventory, stay ready for quick turnarounds, and make sure your inspection process can keep up when buyers move.