The signs for a buyers market are modest but encouraging. While mortgage rates remain high (6.30%), they have fallen for three consecutive weeks, which is always a good sign. Housing inventory increased 4.6% year-over-year while list prices fell for the sixth straight month compared to 2025.
April saw fewer price cuts, which indicates that sellers are getting more realistic in their initial pricing strategy.
The Northeast and Midwest, where inventory has been the tightest, saw the strongest April new listings since 2022.