Real Estate Market Update: April 2026

We’re still seeing mixed signals in the national real estate market, but things could start to heat up here soon!

While existing home sales slowed in March, lower mortgage rates and a rebound in homebuyer activity are starting to shift momentum as we continue into the spring season.

Here’s what you need to know from the April 2026 housing market.

April Housing Market Trends

Existing home sales fell in March. However, mortgage rates came back down, and we could see more activity thanks to rising demand.

Existing Homes

Existing home sales in March dropped by 3.6%, according to the National Association of Realtors (NAR). NAR chief economist Dr. Lawrence Yun noted that this was due to lower consumer confidence and softer job growth.  

The median home price also rose to a new record high for March, reaching $408,800. However, that growth has helped the typical homeowner build $128,100 in equity over the past six years!

New Construction Homes

Data from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development show single-family housing starts are up by 9.7% in March from the previous month, topping one million for the first time in over a year. Housing starts are also up by 8.9% from last year.

Permits, which are a sign of future construction, declined on a monthly and annual basis. According to Realtor.com, the rise in starts suggests that builders expect stronger buyer demand and are working on current projects; however, lower permitting levels could signal caution about the economy.

Housing Inventory

Inventory remains limited, according to NAR, and an extra 300,000 to 500,000 homes for sale would bring the market closer to normal conditions.

Total inventory for existing homes was up 3% from February and 2.3% from March 2025. There’s currently a 4.1-month supply of unsold inventory, up from 3.8 months in February and from 4.0 months a year ago.

Mortgage Rates

The interest rate for a 30-year fixed-rate mortgage was 6.23% as of April 23, 2026, according to Freddie Mac’s Primary Mortgage Market Survey. This is down from 6.30% the week before, and down from 6.46% at the beginning of the month. Although rates have come down recently, they’re higher than they have been this year.

Freddie Mac pointed out that rates stand at their lowest level in the last three spring home buying seasons. This, combined with the increase in home purchase and refinance activity, could help push up pending home sales.

DMV Housing Market Update

It looks like many buyers who hit pause earlier this year have jumped back into the market!

According to the Northern Virginia Association of Realtors (NVAR), the local housing market strengthened in March, driven by rising sales activity and increased transaction volume from renewed buyer demand heading into spring.

Home sales were up by 11.2% compared to March 2025, and NVAR anticipates buyers stepping back in with urgency, particularly in areas with limited inventory, which fell to 1.39 months, a 4.4% decrease year-over-year.

Home prices in March 2026 moved only slightly since last year. The median sold price was $760,000, up 0.6%. NVAR pointed out that this moderation in price growth suggests a stabilizing market.

And while homes continue to sell, they are taking longer to do so. The average days on market was 25 days, a 38.9% increase from a year ago. This indicates that buyers are taking their time before making a decision rather than rushing into offers.

The demand is there, keeping the market active, but it’s also constrained by limited supply.

Most Sellers Expect to Get Their Asking Price or More

Despite slower sales and economic uncertainty, sellers are quite optimistic this spring!

A Realtor.com survey of home sellers revealed that 83% expect to get their asking price or higher, while only 12% anticipate getting below asking. Also, three-quarters of aspiring sellers expect their homes to sell within four months, including more than a quarter of respondents who expect a closing within one to two months.

The typical house right now sits on the market for 57 days, or about two months.

Realtor.com noted that while ambitious, it’s not unreasonable if the price is right.

This is also a good sign for buyers. Realtor.com also pointed out that while sellers are still optimistic, they are more willing to price to reality.

Demand Is Up as Mortgage Rates Come Down

We saw a jump in mortgage rates at the beginning of April, but since then, they’ve come back closer to 6% for a 30-year fixed-rate mortgage.

While NAR reported a drop in home sales in March, Redfin reports a 2.7% year-over-year increase in pending home sales during the four weeks ending April 26. This is the biggest increase in six weeks. Mortgage purchase applications have also risen to their highest level in three months.

According to Redfin, this is because affordability is improving due to lower mortgage rates, and markets have started to stabilize.

But this could potentially change.

At its April 29 meeting, the Federal Reserve held interest rates steady. According to Redfin, rates could rise slightly as a result of Jerome Powell’s last Fed meeting as chair. The Board signaled a high level of division over the future path of interest rates, and Powell announced his decision to stay on the Fed.

Final Thoughts

The market right now feels like it’s finding its rhythm. 

Buyers are starting to come back as rates ease, but inventory is still keeping things tight. That means we’re likely to see steady activity, not a sudden leap in either direction. 

If you’re thinking about making a move, it’s not about reacting quickly. You need a plan in this market!

Looking to buy or sell in the DC area? Don’t navigate the complexities of the current housing market alone! Reach out today for expert real estate leadership.