Tag Archives: housing market

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National Housing Snapshot for May 2026


Existing-home sales increased by 3.2% month-over-month and year-over-year, according to the National Association of REALTORS® Existing-Home Sales report.

Month-over-month sales increased in the Northeast, Midwest and South, and were unchanged in the West. Year-over-year sales rose in the Midwest, South, and West, and fell in the Northeast.

Total Existing-Home Sales for May

  • 3.2% increase in existing-home sales month-over-month.
  • 3.2% increase in existing-home sales year-over-year to a seasonally adjusted annual rate of 4.17 million.

Inventory in May

  • 1.55 million units: Total housing inventory, up 3.3% from April and up 0.6% from May 2025.
  • 4.5-month supply of unsold inventory, no change from last month and down slightly from 4.6 months one year ago.

Median Sales Price in May

  • 1.3% increase from one year ago ($423,700)—the 35th consecutive month of year-over-year price increases.
  • $429,300: Median existing-home price for all housing types

Read more details, including regional data, here…

Source: National Association of REALTORS® 6/9/26

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Washington State NWMLS Market Update for May 2026


Housing inventory continued to expand across the NWMLS service area in May, giving buyers more choices as the market moved into the summer season. Active listings increased 16.8% year over year and 15.2% from April, reaching 21,381 homes on the market — the highest inventory level recorded so far in 2026. Buyers had access to nearly 2,800 more homes than the previous month, while months of inventory increased to 3.44 months, continuing a gradual shift toward a more balanced market.

Despite ongoing affordability challenges, buyer activity remained steady. Pending sales increased 7.7% from April and closed sales rose 9.5% month over month, reflecting continued market activity as the spring buying season transitioned into summer. Home prices remained remarkably stable despite growing inventory, with the median sales price holding at $650,000 for the second consecutive month and declining less than 1% compared to May 2025.

While inventory levels continued to grow, elevated mortgage rates remained a key factor influencing buyer demand and affordability.

Key Takeaways

Active Listings

  • The total number of properties listed for sale increased 16.8% year over year, with 21,381 active listings on the market at the end of May 2026, compared to 18,310 at the end of May 2025. Month over month, active inventory increased 15.2%, up from 18,563 in April 2026.

Pending and Closed Sales

  • There were 8,168 residential and condominium units under contract in May 2026, a slight decrease of 1.0% compared to May 2025 (8,249). Pending sales increased 7.7% from April 2026, when 7,584 listings were under contract.
  • Closed sales decreased 3.9% year over year, with 6,213 transactions in May 2026 compared to 6,467 in May 2025. Month over month, sales increased 9.5%, up from 5,674 in April 2026.

Median Sales Price

  • The median sales price for residential homes and condominiums sold in May 2026 was $650,000, down 0.8% from May 2025 ($654,995) and unchanged from April 2026.

Source: NWMLS 6/3/26

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National Housing Snapshot for April 2026


Existing-home sales increased by 0.2% in April 2026. Month-over-month sales increased in the Midwest and South, were unchanged in the Northeast and declined in the West. On a year-over-year basis, sales rose in the South, were flat in the West, and fell in both the Northeast and Midwest.

“Despite mixed macroeconomic signals—including a record-high stock market and historically low consumer confidence—home sales were modestly boosted by the continued improvement in housing affordability,” said NAR Chief Economist Dr. Lawrence Yun. “Mortgage rates are lower from a year ago, and average income growth is outpacing home price gains.”

Yun continued, “Inventory still remains tight. Multiple offers, though not as intense as a few years ago, are still occurring. At the same time, days on market are lengthening on average, implying that consumers are taking their time before making decisions.”

Month-Over-Month

  • 0.2% increase in existing-home sales—seasonally adjusted annual rate of 4.02 million in April
  • 5.8% increase in unsold inventory—1.47 million units equal to 4.4 months’ supply

Year-Over-Year

  • No change in existing-home sales
  • 0.9% increase in median existing-home sales price to $417,700

Read more details, including regional data, here…

Source: National Association of REALTORS® 5/11/26

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Washington State NWMLS Market Update for April 2026


Market Recap

Housing supply continued to expand across the NWMLS service area in April, with active listings rising 28.4% year over year and increasing more than 23% from March as the spring market gained momentum. While inventory expanded, market activity remained mixed: closed sales declined 3.7% year over year, even as showings and keybox accesses increased from both March and April 2025. The median sales price remained unchanged from a year ago at $650,000, reflecting a market with more choices for buyers but continued affordability constraints.

Mortgage rates remained elevated in April, with average rates slightly higher than in March, and the Federal Reserve held short-term rates steady, citing ongoing inflation pressures, including rising energy costs. Ongoing global uncertainty, including the war in Iran, continued to put upward pressure on interest rates and weigh on housing demand.

Steven Bourassa, director of the Washington Center for Real Estate Research at the University of Washington, said, “We are continuing to see relatively weak demand in the NWMLS market area (as elsewhere in the U.S.), with listings substantially higher than a year earlier, transactions down almost 4%, and median prices unchanged. At the moment, it is difficult to see any improvement on the horizon with the Iran war stuck in a stalemate.”

Key Takeaways

Active Listings

  • The total number of properties listed for sale increased 28.4% year over year, with 18,563 active listings on the market at the end of April 2026, compared to 14,459 at the end of April 2025. Month over month, active inventory increased by 23.4%, up from 15,049 in March 2026.

Closed Sales

  • Closed sales decreased by 3.7% year over year, with 5,674 transactions in April 2026 compared to 5,887 in April 2025. Month over month, sales increased by 4.7%, up from 5,417 in March 2026.

Median Sales Price

  • The median sales price for residential homes and condominiums sold in April 2026 was $650,000, showing no change from April 2025 ($650,000). Month over month, the median price increased 1.6% from $640,000 in March 2026.
  • The counties with the highest median sales prices were San Juan ($1,225,000), King ($859,000), and Snohomish ($750,000), while the lowest median prices were recorded in Ferry ($250,000), Adams ($290,000), and Columbia ($322,000). 

Source: NWMLS 5/5/26

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Outlook for Existing-Home Sales


With sales of existing single-family houses and condos sputtering in the first three months of the year, experts now expect a modest improvement in the housing market for the remainder of 2026 rather than a robust one. The National Association of Realtors cut its 2026 forecast for existing‑home purchases from a 14% jump to a 4% rise after sales fell in March.

Read more…

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National Housing Snapshot for March 2026


Existing-home sales decreased by 3.6% month-over-month in March, according to the National Association of REALTORS® Existing-Home Sales Report. The report provides the real estate ecosystem—including agents, homebuyers and sellers—with data on the level of home sales, price, and inventory.

“March home sales remained sluggish and below last year’s pace,” said NAR Chief Economist Dr. Lawrence Yun. “Lower consumer confidence and softer job growth continue to hold back buyers.”

Month-over-month sales fell in all four regions. Year-over-year sales rose in the South and West and fell in the Northeast and Midwest.

“Inventory remains a major constraint on the market,” Yun said. “The inventory-to-sales ratio, or supply-to-demand ratio, is below historical norms. An additional 300,000 to 500,000 homes for sale would help bring the market closer to normal conditions and allow consumers to make purchase decisions without feeling rushed.”

“Because inventory remains limited, the median home price rose to a new record high for the month of March,” Yun added. “That price growth has helped the typical homeowner accumulate $128,100 in housing wealth over the past six years.”

NAR also revised its 2026 housing forecast. Due to the upward trajectory of mortgage rates, NAR now expects existing-home sales to increase 4% this year, down from the previous projection. New-home sales are now expected to remain flat, a downward revision from the prior forecast of a 5% gain. The median home price forecast remains unchanged, with prices still projected to rise 4% in 2026.

“Mortgage rates have been rising, and that has led us to trim our home sales outlook for the year,” said Yun. “Even with a more modest pace of sales growth, home prices continue to steadily increase due to minimal inventory growth.”

Read more details, including regional data, here…

Source: National Association of REALTORS® 4/13/26

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Washington State NWMLS Market Update for March 2026


Market Recap

A continued rise in inventory, combined with renewed pressure from rising mortgage rates, defined Washington’s housing market in March as listings climbed sharply while sales remained largely unchanged.

Active listings rose 29.3% year over year to 15,049 homes, with nearly every county reporting gains and 20 of 27 counties posting double-digit increases.

Closed sales totaled 5,417 in March, up just 0.2% from a year ago, though activity picked up significantly from February with a nearly 31% month-over-month increase. The median sales price was $640,000, down 1.5% year over year but up 3.2% from February. Total sales volume reached $4.29 billion across residential and condominium transactions.

“Washington continues to mirror national trends by adding listings at a rate that is far outpacing any growth in sales,” said Steven Bourassa, director of the Washington Center for Real Estate Research. “Active listings in the NWMLS service area in March 2026 increased 29% year over year, while the number of sales remained unchanged. In a nutshell, sellers have decided that they need to get on with their lives in spite of the fact that many would be giving up low-interest-rate mortgages. However, potential purchasers cannot afford to buy.”

Bourassa added that rising global uncertainty—including the recent conflict with Iran—has pushed mortgage rates back up to 6.38% by the end of March after briefly dipping below 6% in February. The last time rates were this high was in early September 2025.

Key Takeaways

Active Listings

  • The total number of properties listed for sale increased 29.3% year over year, with 15,049 active listings on the market at the end of March 2026, compared to 11,640 at the end of March 2025. Month over month, active inventory increased 12.8%, up from 13,341 in February 2026.
  • Nearly all NWMLS counties experienced year-over-year inventory growth, with 20 of 27 counties posting double-digit increases.

Closed Sales

  • Closed sales increased by 0.2% year over year, with 5,417 transactions in March 2026 compared to 5,406 in March 2025. Month over month, sales increased by nearly 31%, up from 4,139 in February 2026.
  • Year over year, closed sales increased in 14 of 27 counties, while 13 counties saw decreases.

Median Sales Price

  • The median sales price for residential homes and condominiums sold in March 2026 was $640,000, a 1.5% decrease from March 2025 ($649,999). Month over month, the median price increased 3.2% from $620,000 in February 2026.

Source: NWMLS 4/2/26

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National Housing Snapshot for February 2026


Existing-home sales increased by 1.7% month-over-month in February, according to the National Association of REALTORS® Existing-Home Sales Report.

Month-over-month sales rose in the Midwest, South and West, and fell in the Northeast. Year-over-year sales rose in the South and fell in the Northeast, Midwest and West.

Affordability improved for the eighth consecutive month, according to NAR’s Housing Affordability Index—increasing to 117.6 in February from 117.1 in January and 103.1 a year ago. This marks the highest level since March 2022.

“Housing affordability is improving, and consumers are responding,” said NAR Chief Economist Dr. Lawrence Yun. “Still, there is a long way to go to return to pre-pandemic levels of transaction activity. There are more than 6 million more jobs than in 2019, yet home sales per year are down by one million.”

“Despite the modest gain in home sales, actual housing demand remains muted relative to wage growth and job gains,” Yun continued. “Wage growth is now outpacing home price growth by almost four percentage points. Mortgage rates are also measurably lower compared to a year ago.”

“Inventory is growing, but sluggishly,” he added. “If demand picks up notably in the coming months and outpaces supply growth, home prices will inevitably rise. That is why increasing supply is so important to help limit home price growth, improve housing affordability, and boost transactions.”

Month-Over-Month

  • 1.7% increase in existing-home sales—seasonally adjusted annual rate of 4.09 million in February
  • 2.4% increase in unsold inventory—1.29 million units equal to 3.8 months’ supply

Year-Over-Year

  • 1.4% decrease in existing-home sales
  • 0.3% increase in median existing-home sales price to $398,000

Read more details, including regional data, here…

Source: National Association of REALTORS® 3/10/26

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Washington State NWMLS Market Update for February 2026


Market Recap

Inventory continued to expand across the region in February, providing buyers with significantly more options than a year ago. Active listings increased nearly 28% year over year to 13,341 properties, with 19 of 27 counties posting double-digit gains. Compared to January, inventory rose 7.8%, signaling continued seller participation heading into the spring market.

Closed sales totaled 4,139 transactions, down 3% from February 2025 but up 19.5% from January. The median sales price for residential homes and condominiums reached $620,000, down 1.6% from last year while rising 4.2% compared to the prior month.

Key Takeaways

Active Listings

  • The total number of properties listed for sale increased nearly 28% year over year, with 13,341 active listings on the market at the end of February 2026, compared to 10,448 at the end of February 2025. Month over month, active inventory increased by 7.8%, up from 12,376 in January 2026.

Closed Sales

  • Closed sales decreased 3% year over year, with 4,139 sales in February 2026 compared to 4,268 in February 2025. Month over month, sales increased 19.5%, up from 3,465 in January 2026.

Median Sales Price

  • The median sales price for residential homes and condominiums sold in February 2026 was $620,000, a 1.6% decrease from February 2025 ($630,000). Month over month, the median price increased 4.2% from $595,000 in January 2026.

Source: NWMLS 3/4/26

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National Housing Snapshot for January 2026


Existing-home sales decreased by 8.4% in January, according to the National Association of REALTORS® Existing-Home Sales Report.

Month-over-month and year-over-year sales fell in all regions.

“The decrease in sales is disappointing. The below-normal temperatures and above-normal precipitation this January make it harder than usual to assess the underlying driver of the decrease and determine if this month’s numbers are an aberration,” said NAR Chief Economist Dr. Lawrence Yun. “Affordability conditions are improving, with NAR’s Housing Affordability Index showing that housing is the most affordable it’s been since March 2022. This is due to wage gains outpacing home price growth and mortgage rates being lower than a year ago. However, supply has not kept pace and remains quite low.”

“Due to low supply, the median home price reached a new high for the month of January,” Yun added. “Homeowners are in a financially comfortable position as a result. Since January 2020, a typical homeowner would have accumulated $130,500 in housing wealth.”

Affordability improved for the seventh consecutive month, according to NAR’s Housing Affordability Index—increasing to 116.5 in January from 111.6 in December and 102 a year ago.

Total Existing-Home Sales

  • 8.4% decrease in existing-home sales month over month to a seasonally adjusted annual rate of 3.91 million.
  • 4.4% decrease in sales year over year.

Inventory

  • 1.22 million units: Total housing inventory, down 0.8% from December and up 3.4% from January 2025 (1.18 million).
  • 3.7-month supply of unsold inventory, up from 3.5 months in December and one year ago.

Median Sales Price

  • $396,800: Median existing-home price for all housing types, up 0.9% from one year ago ($393,400) – the 31st consecutive month of year-over-year price increases.

Read more details, including regional data, here…

Source: National Association of REALTORS® 2/12/26