More Homeowners Are Putting Up ‘For Sale’ Signs As the Days Get Warmer

Key Terms

mortgage-purchase applications financial

Mortgage-purchase applications are requests submitted by consumers to lenders for home loans used to buy properties, as opposed to loans for refinancing existing mortgages. Investors watch the number and trend of these applications because they act like a real-time thermometer of housing demand and consumer confidence—rising applications suggest stronger home sales, construction activity, and related spending, while falling applications can signal cooling in the housing market and pressure on companies tied to mortgages and homebuilding.

30-year fixed mortgage rate financial

The 30-year fixed mortgage rate is the interest rate charged on a home loan that is paid back over 30 years with consistent monthly payments. Because the rate stays the same throughout the loan period, it provides stability and predictability for homeowners. This rate influences borrowing costs and can impact the overall housing market and consumer spending.

months of supply technical

Months of supply measures how long it would take to sell all available homes at the current sales rate. It is calculated by dividing the total number of homes for sale by the number of homes sold each month. A lower number suggests a faster market with high demand, while a higher number indicates a slower market with more choices for buyers.

sale-to-list price ratio financial

The sale-to-list price ratio measures how much of a property's asking price is actually paid by buyers, expressed as a percentage. For example, if a home is listed at $300,000 and sells for $285,000, the ratio is 95%. This figure helps investors gauge the strength of the market: a higher ratio suggests buyers are willing to pay close to asking prices, indicating high demand.

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Redfin reports a small spring rebound, with new listings of homes for sale ticking up

SEATTLE--(BUSINESS WIRE)-- New listings of U.S. homes for sale rose 3% year over year during the four weeks ending April 19. That’s the biggest increase since November, according to a new report from Redfin, the real estate brokerage powered by Rocket.

Pending home sales fell 1.2% year over year, the smallest decline in about a month. Mortgage-purchase applications rose 10% week over week.

Some home sellers and buyers have entered the market as mortgage rates decline. The weekly average mortgage rate fell to 6.3% from 6.46% two weeks earlier, bringing the median monthly housing payment down 1.4% year over year. Additionally, there were some signs last week that the end was in sight for the Iran war, which sent oil prices down temporarily. That may have brought some home sellers and buyers off the sidelines as they felt more confidence in the economy.

Still, this spring’s homebuying season is off to a slow start. Mortgage rates are still above the sub-6% rates briefly seen in February, and home-sale prices are up 2% year over year. In addition to elevated costs, some Americans are shying away from selling or buying homes because the economy feels shaky, partly due to concerns about job security and the Iran war.

“The leaves are turning green, the flowers are blooming, and more sellers are listing their homes in hopes of moving before the next school year starts,” said Adrianna Berlin, a Redfin agent in Grand Rapids, MI. “While some people are holding off on selling or buying because they’re holding out hope that mortgage rates will plummet, most have come to terms with today’s costs. The people who need to move this summer are starting to list their homes or prepare for listing.”

A recent Redfin analysis found that late April is the best time to list a home for sale nationwide, though the prime window varies by region.

For Redfin economists’ takes on the housing market, please visit Redfin’s “From Our Economists” page.

Leading indicators

Indicators of homebuying demand and activity
	Value (if applicable)	Recent change	Year-over-year change	Source
Daily average 30-year fixed mortgage rate	6.32% (April 22)	Down from 6.64% about a month earlier	Down from 6.98%	Mortgage News Daily
Weekly average 30-year fixed mortgage rate	6.3% (week ending April 16)	Down from 6-month high 2 weeks earlier	Down from 6.62%	Freddie Mac
Mortgage-purchase applications (seasonally adjusted)		Up 10% from a week earlier (as of week ending April 17)	Up 14%	Mortgage Bankers Association
Google searches of “homes for sale”		Up 5% from a month earlier (as of April 18)	Up 18%	Google Trends
Touring activity		Up 32% from the start of the year (as of April 18)	At this time last year, it was up 35% from the start of 2025	ShowingTime

Key housing-market data

U.S. highlights: Four weeks ending April 19, 2026 Redfin’s national metrics include data from 400+ U.S. metro areas and are based on homes listed and/or sold during the period. Weekly housing-market data goes back through 2015. Subject to revision.
	Four weeks ending April 19, 2026	Year-over-year change	Notes
Median sale price	$394,687	2%
Median asking price	$427,475	2.7%
Median monthly mortgage payment	$2,740 at a 6.3% mortgage rate	-1.4%
Pending sales	89,393	-1.2%
New listings	107,644	3%	Biggest increase since November
Active listings	1,110,922	-2.6%	Biggest decline since 2023
Months of supply	4.2	Unchanged	4 to 5 months of supply is considered balanced, with a lower number indicating seller’s market conditions
Share of homes off market in two weeks	38.9%	Essentially unchanged
Median days on market	46	+4 days
Share of homes sold above list price	24.9%	Down from 26%
Average sale-to-list price ratio	98.7%	Down from 98.8%

Metro-level highlights: Four weeks ending April 19, 2026 Redfin’s metro-level data includes the 50 most populous U.S. metros. Select metros may be excluded from time to time to ensure data accuracy.
	Metros with biggest year-over-year increases	Metros with biggest year-over-year decreases	Notes
Median sale price	Detroit (14.8%) San Francisco (11.7%) Cleveland (11%) Providence, RI (10.6%) Pittsburgh (9.7%)	Austin, TX (-3.6%) Riverside, CA (-3.4%) Seattle (-3%) Minneapolis (-2.7%) Las Vegas (-2.4%)	Declined in 18 metros
Pending sales	West Palm Beach, FL (19.6%) Miami (10.6%) Milwaukee (6.2%) Austin, TX (4.3%) Pittsburgh (3.7%)	Houston (-14.5%) Seattle (-11.7%) Providence, RI (-9.6%) Nassau County, NY (-9.4%) Detroit (-9.2%)
New listings	Milwaukee, WI (22.2%) Montgomery County, PA (20.6%) Pittsburgh (15.4%) Washington, D.C. (14.4%) Minneapolis (14%)	Tampa, FL (-10.9%) Riverside, CA (-10.7%) Jacksonville, FL (-10.2%) Las Vegas (-9.7%) Orlando, FL (-8.1%)

To view the full report, including charts, please visit:
https://www.redfin.com/news/housing-market-update-new-listings-tick-up-spring

About Redfin

Redfin is a technology-driven real estate company with the country's most-visited real estate brokerage website. As part of Rocket Companies (NYSE: RKT), Redfin is creating an integrated homeownership platform from search to close to make the dream of homeownership more affordable and accessible for everyone. Redfin’s clients can see homes first with on-demand tours, easily apply for a home loan with Rocket Mortgage, and save thousands in fees while working with a top local agent.

You can find more information about Redfin and get the latest housing market data and research at https://www.redfin.com/news. For more information about Rocket Companies, visit https://www.rocketcompanies.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260423850510/en/

Contact Redfin Journalist Services:
Kynsay Hunt
press@redfin.com

Source: Redfin