US Existing-Home Listings Rise as Spring Market Activity Picks Up

Redfin reported that new listings of US existing homes for sale rose 3.0% year-over-year in the four-week period ending April 19.

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

Redfin said some buyers and sellers have returned to the market as mortgage rates eased, with the weekly average rate declining to 6.30% from 6.46% two weeks earlier. The median monthly housing payment fell 1.4% year-over-year.

Despite these improvements, Redfin noted that the spring homebuying season remains slow, with home prices up 2% year-over-year and economic uncertainty—linked in part to job security concerns and the Iran conflict—continuing to weigh on activity.