Pending Home Sales Rise 3.2% Annually in April as Housing Inventory Grows

Snejana Farberov May 19, 2026  - https://www.realtor.com/news/trends/pending-home-sales-rise-april-2026-housing-update/?

Pending home sales climbed in April both on a monthly and annual basis, signaling that the spring housing market is finding its footing despite rising mortgage rates and lingering geopolitical uncertainty.

Contract signings were up 1.4% month over month and 3.2% year over year, according to the National Association of Realtors^® Pending Home Sales report.

NAR Chief Economist Lawrence Yun said the latest data signals market resilience despite economic headwinds.

“Buyers are coming out with cautious optimism despite increasing economic uncertainty and a slight rise in mortgage rates," he said. "Demand will easily be even higher once mortgage rates retreat to the levels they were at earlier this year."

Month-over-month pending home sales rose in the Northeast (6.6%), Midwest (3%), and West (0.4%), but ticked down in the South (-0.7%). Annually, contract signings increased in the South (4.7%), West (3.8%), and Midwest (2.7%), and slightly retreated in the Northeast (0.6%).

At the metro level, Boston (+10.3%), Miami (+9.4%), and Oklahoma City, OK (+8.6%) led all major markets in year-over-year pending sales growth.

Mortgage rates fell through April after a rocky start, dropping from a seven-month high of 6.46% to as low as 6.23% before ending around 6.3%, roughly half a percentage point below where they stood a year ago.

Realtor.com® senior economist Hannah Jones says that year-over-year advantage has preserved some buying power, although she points out that the ongoing conflict in the Middle East and subsequent economic anxiety have kept a lid on buyer enthusiasm.

Despite these challenges, Jones says the monthly and annual increases in pending home sales indicate that shoppers are making the most of a growing selection of for-sale homes and easing price growth.

April saw for-sale inventory improve 4.6% from a year ago, although the rate of improvement continued to slow.

Among the biggest metros, Boston saw the biggest year-over-year increase in contract signings in April. Bloomberg via Getty Images

Meanwhile, new listings climbed 1.1% annually and picked up 8.7% month over month as asking prices continued to ease, now down year over year for six consecutive months.

Jones notes that the share of active listings with a price cut actually declined year over year, suggesting sellers are adjusting expectations before listing rather than after.

"Taken together, the April data reflects a seller cohort willing to engage and doing so with more realistic pricing, a meaningful contrast to last spring's standoff," adds the economist.

However, Yun warned of potential trouble ahead. "Historically low foreclosure sales imply minimal price discounts, with a majority of markets selling at a higher price from a year ago," said the NAR expert. "Unless supply meaningfully increases, home price growth could outpace wage growth and further erode the homeownership rate. All efforts need to be focused on boosting housing supply."

Jones also stresses that the market is watching the inflation picture closely. April's Consumer Price Index rose 3.8% annually, the highest reading in nearly three years, and core inflation accelerated to 2.8% as elevated energy costs began bleeding into other categories.  "Higher inflation generally puts upward pressure on mortgage rates, which have already started drifting back above 6.3% in early May," she says. "Beyond rates, inflation running ahead of wage growth means household budgets are being squeezed, a dynamic that could dampen buyer confidence heading into the traditionally active summer months."

Metros with biggest pending home sale increases in April

1. Boston, MA (+10.3%)
2. Miami, FL (+9.4%)
3. Oklahoma City, OK (+8.6%)
4. Milwaukee, WI (+7.4%)
5. Virginia Beach, VA (+7.2%)
6. Raleigh, NC (+5.7%)
7. Dallas–Fort Worth, TX (+5.5%)
8. Washington, DC (+5.4%)
9. Columbus, OH (+5.4%)
10. Charlotte, NC (+5.1%)

• To view data for every Essex County town, http://www.sullivanteam.com/Properties/Reports/Public/Charts.php

Housing Report April 2026 vs March 2026; National vs Essex County 4/28/2026

National Housing Report: Fragmented Markets: South & West vs NE & Midwest
National median home prices (Single Family & Condos) rose to $417,700, up +0.6% from March and +0.9% from April 2025. April Unit sales were 402,000 up +0.3% from March and +0.0% from April 2025. 16.7% of active listings had a price reduction. Inventory rose to 4.4 months, up +4.8% from March and up +2.3% from April 2025 as Active Listings rose to 1,002,935, up +4.0% from March and up +4.6% from April 2025.

Bottom Line: South and West shifting to buyer favorable markets while the Northeast and Midwest remains highly competitive due to low inventory.

Essex County - April 2026. vs March 2026 - Spring Rally Continues!
Sold prices rose +2.1% for Single Families, +5.7% for Condos but fell -5.4% for 2-4 units. Unit sales up +43% for Singles, up +1.4% for Condos, but fell -25% for 2-4 Units.
Active Listing that had a Price Reductions: 21.3% of Single-Families, 30.3% of Condos and 18% of 2-4 Units had price reductions in April which averaged -4.9%, -4.8% and -3.6% respectively.

Bottom line: Current low housing inventory favors sellers. Existing low 30 year mortgage rates are the cause: 79% of outstanding home mortgages have a rate below 6%; 69% have a rate below 5% and 51% have a rate below 4%. Today’s rate is 6.6%.

To view data for every Essex County town,

• To view data for every Essex County town, http://www.sullivanteam.com/Properties/Reports/Public/Charts.php
•  
• To Download the full housing report go to:  http://sullivanteam.com/pages/EssexCountyHousingReports
  
• 

Looking to buy a home this season? Here's what you should know. 

Buyers have more leverage today than they’ve had in years. There are more homes to choose from and, in many areas, sellers are more open to negotiation. 

But that doesn’t mean competition is gone completely. These days, it varies a lot depending on where you’re hoping to move. 

If you’re buying in a popular neighborhood, or in a market where there aren’t many homes for sale, you may still find yourself competing with another buyer.

And that’s especially true in the Spring. Here's how to stay one step ahead of any competition this season.

Why Your Best Offer Still Matters This Spring

According to experts at Zillow and Realtor.com, Spring is one of the busiest times of year to buy a home.

That’s because many buyers want to move now so they can settle in before the next school year. And when more buyers enter the market, competition naturally picks up. 

So, depending on where you’re buying, you may still need to move quickly and make a strong offer, even though the market overall has moderated. And that’s especially true if you find a home you really love.

This is what you need to know to make your offer stand out.

1. Lead with a Strong, Realistic Offer

It’s tempting to start low and negotiate up. And in some markets, that strategy can work. But if a home is priced well and getting attention, lowballing could hurt your chances.

Instead, focus on making an offer that reflects your local market. As Bankrateexplains:

“There is no magic formula for an optimal home offer. Any offer will be heavily dependent on asking price and local market conditions . . . Your real estate agent will know the local market well and can advise what a competitive — but fair — offer will look like in your area.”

The goal is to make an offer that makes sense for you and stands out to the seller.  

2. Have a Plan for Competing Offers

If you’ve fallen in love with a home, it’s important to have a plan in case there’s competition from another buyer. One strategy your agent may discuss with you is an escalation clause, which Investopedia explains like this:  

“An escalation clause is a way to automatically escalate your bid by a certain dollar amount, up to a certain ceiling, to compete with other bids.”

The key is knowing your budget and sticking to it. You don’t want to lose out over a small difference – and this can help prevent that. But you also don’t want to overpay.

Keep in mind that if the appraisal comes in lower than your offer, you may have to make up the difference out of pocket. Your agent can help you weigh those risks and determine the best approach for your situation.

3. Keep Your Offer Clean

Price matters. But sellers also look closely at your offer’s terms. In some cases, a simpler, cleaner offer can stand out – even if it’s not the highest. As Redfin says:

“Sellers tend to want clean, straightforward offers with minimal strings attached. Keep your requests simple and focus on the essentials.”

Your agent can help you prioritize what matters most, so you’re not giving up things you need, while still making your offer as appealing as possible.

4. Be Flexible Where You Can

Sometimes, what helps your offer the most is understanding what matters to the seller. NerdWallet explains:

“As you prepare an offer, you tend to focus on what the seller has (a house) and what you want (their house). But you’ll gain a competitive edge by viewing the transaction from the seller’s eyes: What does the seller want?”

Does the seller need extra time to move out? Or do they want to move as soon as possible? Your agent can talk with the seller’s agent to find out what matters most. Flexibility here can make a big difference in how your offer is received.

Bottom Line

Today's market may be balancing out, but strong offers still matter – especially during the busy Spring season.

Curious how competitive things are (and what it’ll take to win) in our market? Let’s talk.

Is Late May the Best Time To List Your House?

You may have heard April 12-18 was the “best week” to list your house. That’s based on a report from Realtor.com. But now that it’s passed, you may be wondering if you missed your moment.

Here's the good news – you didn’t. 

Because the reality is, there isn’t just one perfect week to sell your house this Spring. There’s a window. And right now, you’re still in it.

Your Window To Sell Is Still Wide Open

Here’s why. Different organizations run studies like this every year. And they don’t always land on the exact same week. That’s okay. It’s because they're using different research methods and even different definitions of what “best” means.

But the fact that the results vary points to a larger trend. While there may be sweet spots, the entire Spring season gives sellers an opportunity to get some of the best conditions (and best sales prices) of the year.

And it’s definitely not too late to jump in.

Why Listing in Late May Is the Perfect Play

According to Zillow, the best time to list your house this year is the last 2 weeks of May. And that’s approaching fast.

Based on their analysis, this is the ideal time to do it if you want to make top dollar. Because, in this 2-week window, homes sell for more. Sometimes, quite a bit more.

Depending on where you are and the price point in your area, some homeowners may even net tens of thousands of dollars extra in this sweet spot. As Zillow explains:

“Why late spring? Buyer demand typically peaks before Memorial Day. Families want to move during the summer and settle in before the new school year. More buyers shopping at once can spark competition and lift prices.”

And they’re not the only ones saying listing in May could be the key to selling for more. ATTOM Data analyzed almost 52 million home sales over the past 10 years and found sellers in May are achieving some of the highest returns.

That means the ideal window this year is very much still open.

What This Means for You 

If your goal is to sell for the strongest possible price, this is where timing and strategy come together. And you want to be sure you’re ready to make the most of it.

So, what should you be doing right now?

When prepping for a fast-moving window like this, you don’t want to waste time or money on the wrong prep work. And your agent is your go-to to make sure you’re focusing on the right things.

They’ll be able to tell you if the “best week” is slightly different in your market. And what quick repairs or updates can help you get a higher price, without taking a ton of time or effort.

Here's a quick example of things an agent may recommend based on information from Redfin:

To view data for every Essex County town,

• To view data for every Essex County town, http://www.sullivanteam.com/Properties/Reports/Public/Charts.php