U.S. housing market in April 2026: sales barely grew, inventories reached multi-year highs.

The National Association of Realtors published data on the existing-home market for April 2026 on May 11. Sales rose 0.2% compared to March, reaching 4.02 million transactions on an annualized basis — a result that only slightly exceeded the market forecast of 4.05 million. The median sales price was $408,800 — 1.4% higher than a year ago, but growth is slowing.

More important than price is inventory. In April, the number of properties for sale rose 5.8% month-over-month, reaching 1.47 million units, equivalent to 4.4 months of supply at the current sales pace. This is significantly below the historical long-term benchmark of 5–6 months, but notably better than just a year ago. Among regions, the largest sales increase was recorded in the Midwest (+2.2%), while the West showed a decline (-2.6%).

Particular attention should be paid to new construction data published by the Census Bureau on May 5. In March, new home sales rose 7.4% month-over-month to 682,000 units annualized, beating the market forecast of 650,000. The median new home price, meanwhile, fell 6.2% year-over-year to 387,400—thelowestvaluesinceJuly2021.Thisisanatypicalsituation:inmostcycles,newhomesaremoreexpensivethanexistinghomes.Currently,however,themedianexisting−homeprice(387,400—thelowestvaluesinceJuly2021.Thisisanatypicalsituation:inmostcycles,newhomesaremoreexpensivethanexistinghomes.Currently,however,themedianexisting−homeprice(408,800) is higher than the new home price ($387,400). Builders are subsidizing mortgage rates, offering discounts, and using other incentive tools to move unsold inventory.

For a foreign buyer considering U.S. real estate as an investment, the combination of these factors creates a rare bargaining position. The 30-year fixed mortgage rate, according to Freddie Mac for the week of May 7, stood at 6.37% — lower than a year ago (6.76%), though higher than the previous week (6.30%). The current level still constrains some local buyers who are waiting for a drop to 6% or below. It is precisely in such periods that the market traditionally becomes more accessible to international capital: competition for properties decreases, and sellers show greater flexibility.

According to NAR, days on market continue to lengthen — which means reduced bargaining pressure on the buyer. In Texas, Arizona, and several Florida markets where inventory growth is particularly noticeable, discounts from the asking price have become the norm rather than the exception. Markets with historically low inventory — Boston, Seattle, Greater Washington — remain competitive, but even there, decision time has increased.

Real estate in the USA — Miami, New York, Florida: discount-house.com/usa