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New Home Sales Down in April on Affordability Concerns – Eye On Housing

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Elevated mortgage rates, higher inflation and economic uncertainty kept more buyers on the sidelines in April as ongoing affordability challenges continue.

Sales of newly built single-family homes fell 6.2% in April to a seasonally adjusted annual rate of 622,000, according to data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The pace of new home sales is down 11.3% from a year earlier.

Mortgage interest rates increased from a monthly average of 6.18% in March to 6.33% in April per Freddie Mac, dampening homebuyer demand. Rates moved higher again in May to just above 6.4% as oil prices and short-term inflation expectations increased.

New home sales are on track to decline in 2026 as mortgage rates are expected to remain elevated in the months ahead. The Midwest remains a bright spot, with sales up 7.3% year to date, compared with declines in the rest of the country. The Midwest benefits from relative advantages for homebuyer affordability.

A new home sale occurs when a sales contract is signed, or a deposit is accepted. The home can be in any stage of construction: not yet started, under construction or completed. In addition to adjusting for seasonal effects, the April reading of 622,000 units is the number of homes that would sell if this pace continued for the next 12 months.

New single-family home inventory in April rose to 489,000 units, up 1.7% compared to the previous month. This represents an elevated 9.4 months’ supply at the current building pace. Completed, ready-to-occupy inventory accounted for 122,000 homes in April, up 6.1% from a year ago but down from the cyclical peak of 128,000 in January.

The median new home sale price was $422,500, up 8.0% from March and up 2.2% from a year ago.

Regionally, on a year-to-date basis, new home sales are up 7.3% in the Midwest. New home sales are down 9.7% in the Northeast, 7.6% in the South and 9.5% in the West.



This article was originally published by a eyeonhousing.org . Read the Original article here. .

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Existing Home Sales Edged Up Slightly in April – Eye On Housing

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Existing home sales edged up in April after reaching a nine-month low in March, but sales remained at historically low levels. Elevated mortgage rates and reignited inflation driven by the Iran war continued to weigh on affordability as economic uncertainty pushed up long-term rates, while rising energy costs strained household budgets. Despite inventory improving in recent months, it remains below pre-COVID levels and continues to push home prices to a record high for April as demand outpaces supply.

Total existing home sales, including single-family homes, townhomes, condominiums, and co-ops, rose 0.2% to a seasonally adjusted annual rate of 4.02 million in April, according to the National Association of Realtors (NAR). On a year-over-year basis, sales were unchanged from a year ago.

The existing home inventory level was 1.5 million units in April, up 5.8% from March and 1.4% from a year ago. At the current sales rate, April unsold inventory sits at a 4.4-months’ supply, up from 4.2-months in March and 4.3-months a year ago. Inventory between 4.5 to 6 months’ supply is generally considered a balanced market.

Homes stayed on the market for a median of 32 days in April, down from 41 days in the previous month but up from 29 days in April 2025.

The first-time buyer share was 33% in April, up from 32% in March but down slightly from 34% a year ago.

The April all-cash sales share was 25% of transactions, down from 27% in March but unchanged from a year ago. All-cash buyers are less affected by changes in interest rates.

The April median sales price of all existing homes was $417,700, up 0.9% from last year. This marks the 34th consecutive month of year-over-year increases. The median condominium/co-op price in March was up 1.1% from a year ago at $374,100. Recent gains for home inventory will put downward pressure on resale home prices in most markets in 2026.

Existing home sales in April were mixed across the four major regions. Sales rose in the Midwest (+2.2%) and South (+0.5%), fell in the West (-2.6%), and remained unchanged in the Northeast. On a year-over-year basis, sales were flat in the West, declined in the Northeast (-8.2%) and Midwest (-1.0%) but increased in the South (+2.7%).

The Pending Home Sales Index (PHSI) is a forward-looking indicator based on signed contracts. The PHSI rose from 72.6 to 73.7 in March due to improved inventory. On a year-over-year basis, pending sales were 1.1% lower than a year ago, according to the National Association of Realtors’ data. However, resurgence in mortgage rates driven by the Iran war could reverse the increase.



This article was originally published by a eyeonhousing.org . Read the Original article here. .

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New Home Sales Rise, Supported by Limited Existing Inventory    – Eye On Housing

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The U.S. housing market showed mixed but generally improving conditions in March, as new home sales strengthened and price pressures continued to ease. While inventory dynamics varied across segments, moderating home prices and increased availability at the lower end of the market provided some relief to buyers navigating ongoing affordability challenges.

Sales of newly built single-family homes increased 7.4% month-over-month in March to a seasonally adjusted annual rate of 682,000 units, according to the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. This represented a 3.3% increase compared to a year earlier. A new home sale is recorded when a contract is signed, or a deposit is accepted, regardless of the stage of construction. The seasonally adjusted annual rate reflects the pace of sales that would occur over a 12-month period if current conditions persist.

New single-family home inventory totaled 481,000 units in March, down 0.4% from the prior month and 4.6% from a year earlier. At the current sales pace, the months’ supply of new homes stood at 8.5 months, down from 9.2 months one year ago, though still above the six-month level generally considered to indicate a balanced market.

Combined new and existing home inventory has edged higher in recent months, with the total months’ supply reaching 4.8 months. Meanwhile, inventory conditions in the existing home market have retreated after showing gradual improvement in prior months. Moderating prices across both markets have helped support buyer demand amid ongoing affordability concerns.

At the end of March, there were 119,000 completed, ready-to-occupy homes available for sale on a non-seasonally adjusted basis, up 5.3% from a year earlier. Completed homes accounted for one-quarter of total inventory, while homes under construction made up 51%. The remaining 24% of homes sold in March had not yet started construction at the time the sales contract was signed.

Home prices showed further signs of cooling at the start of 2026. The median new home sale price was $387,400, down 6.2% from a year ago, and 9.7% below the recent peak of $429,100 reached in December 2025. Affordability improved at the lower end of the market, with 20 percent of new homes priced below $300,000. Over a quarter (28%) of homes were priced above $500,000, while the remaining share fell within the $300,000 to $500,000 range.

Regionally, year-over-year new home sales increased 8.0% in the Midwest, reflecting ongoing strength in residential construction across the Midwestern states. New home sales declined 17.6% in the Northeast, 14.0% in the West and 2.6% in the South.



This article was originally published by a eyeonhousing.org . Read the Original article here. .

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Existing Home Sales Fell in March – Eye On Housing

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Existing home sales fell to a nine-month low in March as tight inventory, rising mortgage rates and growing concerns about the job market constrained sales activity. While inventory has improved in recent months, it remains below historical norms, continuing to push home prices higher as demand outpaces supply. Meanwhile, the Iran war has reversed the downward trend in mortgage rates, which jumped from 5.98% before the conflict to 6.37% last week. These headwinds will likely dampen home sales while tight inventory continues to drive home prices higher, further worsening housing affordability.

Total existing home sales, including single-family homes, townhomes, condominiums, and co-ops, fell 3.6% to a seasonally adjusted annual rate of 3.98 million in March, the lowest level since June 2025, according to the National Association of Realtors (NAR). On a year-over-year basis, sales were 1.0% lower than a year ago.

The existing home inventory level was 1.4 million units in March, up 3.0% from February and 2.3% from a year ago. At the current sales rate, March unsold inventory sits at a 4.1-months’ supply, up from 3.8-months in February and 4.0-months a year ago. Inventory between 4.5 to 6 months’ supply is generally considered a balanced market.

Homes stayed on the market for a median of 41 days in March, down from 47 days in the previous month and 36 days in March 2025.

The first-time buyer share was 32% in March, down from 34% in February and unchanged from a year ago.

The March all-cash sales share was 27% of transactions, down from 31% in February but up slightly from 26% a year ago. All-cash buyers are less affected by changes in interest rates.

The March median sales price of all existing homes was $408,800, up 1.4% from last year. This marks the 33rd consecutive month of year-over-year increases. The median condominium/co-op price in March was up 2.3% from a year ago at $371,500. Recent gains for home inventory will put downward pressure on resale home prices in most markets in 2026.

All four major regions saw sales declines in March, ranging from 1.3% in the West to 8.5% in the Northeast. On a year-over-year basis, sales rose in the West (+1.3%) and South (+2.2%), while sales in the Midwest and Northeast declined (-3.2% and 12.2% respectively).

The Pending Home Sales Index (PHSI) is a forward-looking indicator based on signed contracts. The PHSI rose from 70.8 to 72.1 in February due to improved affordability. On a year-over-year basis, pending sales were 0.8% lower than a year ago, according to the National Association of Realtors’ data. However, resurgence in mortgage rates driven by the Iran war could reverse the increase.



This article was originally published by a eyeonhousing.org . Read the Original article here. .

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New Home Sales Decline in January on Weather Disruptions – Eye On Housing

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New home sales declined in January, reflecting typical monthly volatility as well as weather-related disruptions. On a three-month moving average basis, sales remain broadly in line with a year ago, suggesting underlying demand conditions have been relatively stable despite the month-to-month fluctuations. Meanwhile, builders continue to rely on incentives to attract buyers and sustain demand. The January NAHB/Wells Fargo Housing Market Index showed that 64% of builders used sales incentives, marking the 12th consecutive month this share exceeded 60%.

Sales of newly built single-family homes fell 17.6% in January to a seasonally adjusted annual rate of 587,000 from a downwardly revised December reading, according to newly released data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The pace of new home sales is down 11.3% from a year earlier. On a three-month moving average basis, sales were 688,000, remaining broadly in line with the 685,000 pace seen a year ago.

A new home sale occurs when a sales contract is signed, or a deposit is accepted. The home can be in any stage of construction: not yet started, under construction or completed. In addition to adjusting for seasonal effects, the January reading of 587,000 units is the number of homes that would sell if this pace continued for the next 12 months.

New single-family home inventory rose to 476,000 units in January. This is 0.4% higher than the previous month, but 4.0% lower than a year earlier. At the current sales pace, months’ supply for new homes stood at 9.7, compared to 9.0 a year ago. The increase in inventory along with weaker sales partly reflects a temporary slowdown in the new home market, as weather disruptions limited transactions during the month, particularly in regions such as the Northeast, where sales declined sharply by 44.7%.

A year ago, there were 116,000 completed, ready-to-occupy homes available for sale (not seasonally adjusted). By the end of January 2026, that number increased 10.3% to 128,000. However, completed, ready-to-occupy inventory accounted for just 27% of total inventory, while homes under construction made up 51%. The remaining 22% of new homes for sale in January were homes that had not started construction when the sales contract was signed.

The median new home sale price declined 4.5% to $400,500, representing a 6.8% decrease from a year ago. In January, 19% of new homes were priced below $300,000, while 34% were priced above $500,000. The share of new homes priced below $300,000 has trended lower since October 2025, after reaching a recent peak of 23% in September 2025.

Regionally, on a year-to-date basis, new home sales are up 1.4% in the Midwest and 4.1% in the South. New home sales are down 8.3% in the Northeast and 3.5% in the West.



This article was originally published by a eyeonhousing.org . Read the Original article here. .

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Existing Home Sales Rose in February – Eye On Housing

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Following the sharp decline last month, existing home sales bounced back in February as housing affordability improved. Lower mortgage rates and moderating home price growth helped pull buyers back to the market. However, tight inventory will likely continue to push home prices higher if demand outpaces supply growth.

Total existing home sales, including single-family homes, townhomes, condominiums, and co-ops, rose 1.7% to a seasonally adjusted annual rate of 4.09 million in February, according to the National Association of Realtors (NAR). On a year-over-year basis, sales were 1.4% lower than a year ago.

The existing home inventory level was 1.3 million units in February, up 2.4% from January and 4.9% from a year ago. At the current sales rate, February unsold inventory sits at a 3.8-months’ supply, unchanged from last month but up from 3.6-months in February. Inventory between 4.5 to 6 months’ supply is generally considered a balanced market.

Homes stayed on the market for a median of 47 days in February, up from 46 days in the previous month and 42 days in February 2025.

The first-time buyer share was 34% in February, up from 31% in January and one year ago.

The February all-cash sales share was 31% of transactions, up from 27% in January but down from 32% a year ago. All-cash buyers are less affected by changes in interest rates.

The February median sales price of all existing homes was $398,000, up 0.3% from last year. This marks the 32nd consecutive month of year-over-year increases. However, the year-over-year growth has moderated since peaking in December 2024, suggesting that price appreciation may continue to slow. The median condominium/co-op price in February was up 0.9% from a year ago at $358,100. Recent gains for home inventory will put downward pressure on resale home prices in most markets in 2026.

Three of the four major regions saw sales increases in February, ranging from 1.1% in the Midwest to 8.2% in the West. Sales in the Northeast fell 6.0%. On a year-over-year basis, sales rose only in the South (+0.5%), while sales in the West, Midwest, and Northeast all declined (-1.3%, -4.1%, and -4.1%, respectively). 

The Pending Home Sales Index (PHSI) is a forward-looking indicator based on signed contracts. The PHSI fell from 71.5 to 70.9 in January. On a year-over-year basis, pending sales were 0.4% lower than a year ago, according to the National Association of Realtors’ data. The decline suggests buyers are holding back due to limited inventory choices.



This article was originally published by a eyeonhousing.org . Read the Original article here. .

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New Home Sales Close 2025 with Modest Gains – Eye On Housing

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New home sales ended 2025 on a mixed but resilient note, signaling steady underlying demand despite ongoing affordability and supply constraints. The latest data released today (and delayed because of the government shutdown in fall of 2025) indicate that while month-to-month activity shows a small decline, sales remain stronger than a year ago, signaling that buyer interest in newly built homes has improved. The December NAHB/Wells Fargo Housing Market Index showed that 67 percent of builders used sales incentives, the highest percentage post-COVID. Builders offered an average home price reduction of 5 percent during December.

Sales of newly built single-family homes declined 1.7 percent month-over-month in December to a seasonally adjusted annual rate of 745,000 units, according to the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. This represented a 3.8 percent year-over-year increase. An estimated 679,000 homes were sold in 2025, down 1.1 percent from the 2024 rate of 686,000. A new home sale is recorded when a contract is signed or a deposit is accepted, regardless of the stage of construction. The seasonally adjusted annual rate reflects the pace of sales that would occur over a 12-month period if current conditions persisted.

New single-family home inventory totaled 472,000 units in December, 2.7 percent lower than the prior month, and 3.5 percent lower than a year earlier. At the current sales pace, the months’ supply of new homes stood at 7.6 months, down from 8.2 months one year ago, though still above the six-month level that is generally considered balanced.

Combined new and existing home inventory has edged lower in recent months, with total months’ supply declining to 4.0, reflecting slower construction activity. Meanwhile, inventory conditions in the existing home market have retreated after making gradual improvement in prior months. Moderating prices across both markets have helped support buyer demand amid ongoing affordability concerns.

By the end of 2025, there were 128,000 completed, ready-to-occupy homes available for sale on a non-seasonally adjusted basis, up 8.5 percent from a year earlier. Completed homes accounted for a little more than a quarter of the total inventory, while homes under construction made up 51 percent. The remaining 22 percent of homes sold in December had not yet started construction at the time the sales contract was signed.

Home prices showed further signs of easing in 2025. The median new home sale price declined 1.3 percent to $415,000 from $420,300 in 2024. Affordability improved at the lower end of the market, with 20 percent of new homes priced below $300,000. Thirty-four percent of homes were priced above $500,000, while the remaining 46 percent fell within the $300,000 to $500,000 range.

Regionally, year-to-year new home sales were up 1.7 percent in the Midwest and 0.4 percent in the South but declined 4.9 percent in the West and 7.7 percent in the Northeast.



This article was originally published by a eyeonhousing.org . Read the Original article here. .

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Existing Home Sales Retreat Amid Low Inventory – Eye On Housing

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Existing home sales fell in January to a more than two-year low after December’s strong rebound, as tight inventory continued to push home prices higher and winter storms weighed on activity. Despite mortgage rates trending lower and wage growth outpacing price gains, limited resale supply kept many buyers on the sidelines. Resale inventory remained at lowest level since January 2025. Though home price appreciation has slowed in recent months, affordability remains a challenge.

Total existing home sales, including single-family homes, townhomes, condominiums, and co-ops, fell 8.4% to a seasonally adjusted annual rate of 3.91 million in January, according to the National Association of Realtors (NAR). This marks the lowest level since August 2024. On a year-over-year basis, sales were 4.4% lower than a year ago.

The existing home inventory level was 1.2 million units in January, down 0.8% from December but up 3.4% from a year ago. At the current sales rate, January unsold inventory sits at a 3.7-months’ supply, up from 3.5-months in December and January 2024. Inventory between 4.5 to 6 months’ supply is generally considered a balanced market.

Homes stayed on the market for a median of 46 days in January, up from 39 days in the previous month and 41 days in January 2025.

The first-time buyer share was 31% in January, up from 29% in December and 28% from a year ago.

The January all-cash sales share was 27% of transactions, down from 28% in December and 29% a year ago. All-cash buyers are less affected by changes in interest rates.

The January median sales price of all existing homes was $396,800, up 0.9% from last year. This marks the new high for the month of January and the 31st consecutive month of year-over-year increases. The median condominium/co-op price in January was up 3.8% from a year ago at $364,600. Recent gains for home inventory will put downward pressure on resale home prices in most markets in 2026.

Sales declined in all four major regions in January, ranging from 5.9% in the Northeast to 10.3% in the West. On a year-over-year basis, sales also fell across all regions, from 1.6% in the South to 7.9% in the West.

The Pending Home Sales Index (PHSI) is a forward-looking indicator based on signed contracts. The PHSI fell from 79.2 to 71.8 in December after four months of increases. On a year-over-year basis, pending sales were 3.0% lower than a year ago, according to the National Association of Realtors’ data. The decline suggests buyers are holding back due to limited inventory choices.



This article was originally published by a eyeonhousing.org . Read the Original article here. .

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Existing Home Sales Climb to Near 3-Year High in December – Eye On Housing

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Existing home sales rose in December to the fastest pace in nearly three years, but annual sales for 2025 remained at a 30-year low as elevated home prices and mortgage rates kept buyers on the sidelines, according to the National Association of Realtors (NAR). While mortgage rates have eased from 7% seen at the start of 2025 to near 6% by year-end, tight inventory continued to push home prices higher as more homeowners took listings off the market. Resale inventory dropped to its lowest level since January 2025. Though home price appreciation has been slowed in recent months, housing affordability remains a challenge.

Total existing home sales, including single-family homes, townhomes, condominiums, and co-ops, rose 5.1% to a seasonally adjusted annual rate of 4.35 million in December, the highest level for 2025 and highest since February 2023. On a year-over-year basis, sales were 1.4% higher than a year ago. For the year 2025, existing home sales totaled 4.06 million, unchanged from 2024 and matching the lowest level since 1995.

The existing home inventory level was 1.18 million units in December, down 18.1% from November but up 3.5% from a year ago. At the current sales rate, December unsold inventory sits at a 3.3-months’ supply, down from 4.2-months in November but up from 3.2-months in December 2024. Inventory between 4.5 to 6 months’ supply is generally considered a balanced market.

The December median sales price of all existing homes was $405,400, up 0.4% from last year. This marks the 30th consecutive month of year-over-year increases. The median condominium/co-op price in December was up 1.5% from a year ago at $364,400.  Recent gains for home inventory will put downward pressure on resale home prices in most markets in 2026. All four major regions saw an increase in sales in December, with gains ranging from 2.0% in the Northeast and Midwest to 6.9% in the South. However, sales were mixed on a year-over-year basis. Sales remained unchanged in the Midwest and West, rose 3.6% in the South, and fell 1.9% in the Northeast.

The Pending Home Sales Index (PHSI) is a forward-looking indicator based on signed contracts. The PHSI rose from 76.7 to 79.2 in November due to lower mortgage rates. On a year-over-year basis, pending sales were 2.6% higher than a year ago, according to the National Association of Realtors’ data.



This article was originally published by a eyeonhousing.org . Read the Original article here. .

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New Home Sales Rise Year-Over-Year as Prices Stabilize – Eye On Housing

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The new home sector has played an increasingly important role in meeting housing demand as resale inventory remains constrained in many regions. The latest data released today (and delayed because of the government shutdown in fall of 2025) indicate that new single-family home sales continue to reflect a stabilizing market after a period of heightened volatility. While month-to-month activity shows some variability, sales remain stronger than a year ago, signaling that buyer interest in newly built homes has improved.

Sales of newly built single-family homes increased 18.7 percent year over year in October to a seasonally adjusted annual rate of 737,000 units, according to the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. This represented a modest 0.1 percent decline from September and a 1.2 percent decrease on a year-to-date basis. A new home sale is recorded when a contract is signed or a deposit is accepted, regardless of the stage of construction. The seasonally adjusted annual rate reflects the pace of sales that would occur over a 12-month period if current conditions persisted.

New single-family home inventory totaled 488,000 units in October, unchanged from the prior month and 1.7 percent higher than a year earlier. At the current sales pace, the months’ supply of new homes stood at 7.9, down from 9.3 months one year ago, though still above the six-month level that is generally considered balanced.

Combined new and existing home inventory has edged lower in recent months, with total months’ supply declining to 4.9, reflecting slower construction activity. Meanwhile, inventory conditions in the existing home market have shown gradual improvement, and moderating prices across both markets have helped support buyer demand amid ongoing affordability concerns.

By the end of October 2025, there were 124,000 completed, ready-to-occupy homes available for sale on a not seasonally adjusted basis, up 10.7 percent from a year earlier. Completed homes accounted for roughly one-quarter of total inventory, while homes under construction made up 51 percent. The remaining 24 percent of homes sold in October had not yet started construction at the time the sales contract was signed.

Home prices showed further signs of easing in October. The median new home sale price declined 3.3 percent to $392,300, marking an 8.0 percent decrease from a year ago. Affordability improved at the lower end of the market, with 25 percent of new homes priced below $300,000, the highest share in recent months. Thirty percent of homes were priced above $500,000, while the remaining 45 percent fell within the $300,000 to $500,000 range.

Regionally, year-to-date new home sales declined in three of the four regions, falling 0.1 percent in the Midwest, 7.2 percent in the West, and 22.9 percent in the Northeast. The South was the only region to post growth, with sales up 2.9 percent.



This article was originally published by a eyeonhousing.org . Read the Original article here. .

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