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New listings grew faster than sales for the first time this year
SEATTLE, May 6, 2026 /PRNewswire/ -- Housing inventory is building while buyer demand reverted to a more cautious stance relative to March. For the first time in 2026, new listings grew more on an annual basis than home sales did, according to the Zillow® April Market Report.
The supply side of the market is loosening. New listings totaled more than 426,000 in April, up 2.1% from a year earlier, while home sales were roughly flat — down 0.4% year over year. Active inventory rose 3.7% from last April, putting the total number of homes for sale at 1.3 million nationwide.
Slightly friendlier conditions for buyers point to the chance of a quick rebound if rates fall back to the 6% range seen earlier this year. Even with the recent spike in mortgage rates, buyers who waited out last year's market are entering on slightly better terms this spring, with more options, improved affordability and a little more time to decide.
The monthly mortgage payment on a typical U.S. home fell 3.4% year over year to $1,829 in April, even as home values edged up 0.7% to $366,712. Homes are taking a bit longer to find a buyer, with the typical listing going pending in 17 days — one day longer than a year ago. The share of listings with a price cut fell from last year, but remains elevated compared to historical norms
"The spring rebound we anticipated at the start of the year and that produced the stronger sales figures in March was put on pause in April by higher rates," said Mischa Fisher, chief economist at Zillow. "Still, someone who held off in 2025 hoping conditions would improve has seen that improvement. With more homes to choose from and lower monthly costs than a year ago, the math has shifted in favor of buyers even if the moment may not feel like it. There's still plenty of reason for optimism that we will see a quick rebound if rates cooperate."
Home Values & Mortgage Payments
Inventory
Sales
Competition
Rents
Local data can be found on Zillow's market explorer. The Zillow May Market Report is expected to be released June 4.
Zillow April Market Report | ||||||||
Metro Area* | Typical | Home | Home | Inventory | Sales | Typical | Rent | Rent |
United States | $366,712 | 0.6 % | 0.7 % | 3.7 % | -0.4 % | $1,930 | 0.6 % | 1.9 % |
New York, NY | $717,750 | 0.4 % | 3.9 % | 3.1 % | -14.8 % | $3,406 | 0.9 % | 4.2 % |
Los Angeles, CA | $964,097 | 0.6 % | -0.1 % | 4 % | -0.5 % | $2,892 | 0.4 % | 1.2 % |
Chicago, IL | $348,929 | 1 % | 4.4 % | 0.1 % | 5.8 % | $2,219 | 0.9 % | 5.4 % |
Dallas, TX | $363,727 | 0.4 % | -3.3 % | -2 % | 8 % | $1,660 | 0.6 % | -0.2 % |
Houston, TX | $306,441 | 0.3 % | -2 % | 8.5 % | 1.6 % | $1,619 | 0.3 % | -0.9 % |
Washington, DC | $579,216 | 0.6 % | -0.7 % | 10.7 % | 0.4 % | $2,375 | 0.6 % | -0.1 % |
Philadelphia, PA | $385,989 | 0.8 % | 2.5 % | 7.4 % | -10.1 % | $1,901 | 0.4 % | 3.5 % |
Miami, FL | $472,249 | 0.2 % | -2.8 % | -11.7 % | 4.4 % | $2,683 | 0.4 % | 0.9 % |
Atlanta, GA | $379,802 | 0.4 % | -2.2 % | 3.6 % | -5.7 % | $1,825 | 0.3 % | 1.2 % |
Boston, MA | $732,523 | 0.9 % | 1.4 % | 8.9 % | -3.7 % | $3,184 | 0.8 % | 2.2 % |
Phoenix, AZ | $446,161 | 0.1 % | -1.8 % | 0.3 % | 4.7 % | $1,741 | 0.2 % | -0.7 % |
San Francisco, CA | $1,139,310 | 1.1 % | -0.9 % | -9.6 % | 8.5 % | $3,206 | 1 % | 6.5 % |
Riverside, CA | $584,732 | 0.3 % | -1.1 % | -3.2 % | -2.7 % | $2,510 | 0.5 % | 2 % |
Detroit, MI | $265,056 | 1 % | 2.8 % | 14.2 % | -9.4 % | $1,481 | 0.5 % | 2.3 % |
Seattle, WA | $744,071 | 0.4 % | -2.1 % | 25.9 % | -4.4 % | $2,208 | 0.6 % | 1.5 % |
Minneapolis, MN | $388,623 | 0.9 % | 2.1 % | 22 % | -4.2 % | $1,698 | 0.7 % | 3.6 % |
San Diego, CA | $938,900 | 0.7 % | -0.9 % | 1.5 % | 2.4 % | $2,914 | 0.4 % | 1.5 % |
Tampa, FL | $357,226 | 0.2 % | -3.2 % | -5.9 % | 1.4 % | $1,997 | 0.4 % | -1.3 % |
Denver, CO | $568,896 | 0.5 % | -3 % | -0.5 % | 7.3 % | $1,887 | 0.6 % | -1.5 % |
Baltimore, MD | $401,550 | 0.7 % | 0.8 % | 8.5 % | -3.1 % | $1,894 | 0.1 % | 2 % |
St. Louis, MO | $272,221 | 0.9 % | 2.9 % | 7.8 % | -2.2 % | $1,436 | 0.4 % | 3.6 % |
Orlando, FL | $384,638 | 0.2 % | -3 % | -3.2 % | 0.1 % | $1,963 | 0.6 % | 0.3 % |
Charlotte, NC | $387,114 | 0.4 % | -0.4 % | 14.2 % | -3.1 % | $1,733 | 0.4 % | 0.4 % |
San Antonio, TX | $278,644 | 0.4 % | -1.9 % | 4.8 % | 10.4 % | $1,398 | 0.2 % | -1.7 % |
Portland, OR | $547,023 | 0.5 % | -1 % | 9.2 % | 4.3 % | $1,789 | 0.5 % | 0.8 % |
Sacramento, CA | $578,575 | 0.5 % | -1.6 % | 0.1 % | 5.9 % | $2,258 | 0.7 % | 1.9 % |
Pittsburgh, PA | $226,492 | 0.9 % | 0.7 % | 10.7 % | -9.8 % | $1,507 | 0.7 % | 3.9 % |
Cincinnati, OH | $306,662 | 0.9 % | 2.5 % | 16.1 % | -0.2 % | $1,557 | 0.5 % | 3.6 % |
Austin, TX | $425,231 | 0.4 % | -6 % | -3.4 % | 18 % | $1,604 | 0.5 % | -2.2 % |
Las Vegas, NV | $428,437 | 0.1 % | -3 % | 5.5 % | -7 % | $1,734 | 0.4 % | -0.1 % |
Kansas City, MO | $325,720 | 1.1 % | 3.6 % | 7.2 % | 3.3 % | $1,526 | 0.6 % | 3.3 % |
Columbus, OH | $327,879 | 0.8 % | 1.1 % | 13.5 % | 1.1 % | $1,516 | 0.6 % | 1.7 % |
Indianapolis, IN | $292,497 | 0.7 % | 1.3 % | 23 % | 1.2 % | $1,517 | 0.3 % | 2.5 % |
Cleveland, OH | $247,516 | 1.2 % | 4.3 % | 10.7 % | -2.3 % | $1,441 | -0.2 % | 4.2 % |
San Jose, CA | $1,601,228 | 0.5 % | -2.2 % | 5.7 % | -1.1 % | $3,534 | 1 % | 5.1 % |
Nashville, TN | $452,944 | 0.5 % | -0.9 % | 16.7 % | 3.1 % | $1,784 | 0.5 % | -0.2 % |
Virginia Beach, VA | $370,498 | 0.7 % | 2.5 % | 6.7 % | -3.6 % | $1,843 | 0.5 % | 6 % |
Providence, RI | $518,813 | 0.9 % | 3.2 % | 4 % | -12.7 % | $2,154 | 0.5 % | 4.7 % |
Jacksonville, FL | $349,800 | 0.4 % | -1.6 % | -13.9 % | 3.3 % | $1,692 | 0.7 % | 1 % |
Milwaukee, WI | $382,830 | 1.3 % | 5.3 % | 17.6 % | 14.6 % | $1,540 | 0.7 % | 3.8 % |
Oklahoma City, OK | $244,525 | 0.4 % | 1 % | 7 % | 4.2 % | $1,392 | 0.4 % | 3 % |
Raleigh, NC | $436,145 | 0.4 % | -2.1 % | 22.2 % | 8.8 % | $1,674 | 0.3 % | 0.1 % |
Memphis, TN | $244,987 | 0.5 % | 0.1 % | 17 % | N/A | $1,432 | 0.2 % | 0.5 % |
Richmond, VA | $393,062 | 0.9 % | 2.3 % | 8.1 % | 8.9 % | $1,736 | 0.5 % | 3.3 % |
Louisville, KY | $278,752 | 0.5 % | 1.7 % | 23.7 % | 8.4 % | $1,377 | 0.5 % | 2.3 % |
New Orleans, LA | $261,148 | 0.7 % | 3.2 % | 0.1 % | 6.7 % | $1,615 | 0.2 % | -0.2 % |
Salt Lake City, UT | $564,370 | 0.4 % | 1 % | 5.6 % | N/A | $1,631 | 1.5 % | 0.1 % |
Hartford, CT | $394,318 | 1.2 % | 5.2 % | -0.4 % | -7.7 % | $1,940 | 0.6 % | 2.9 % |
Buffalo, NY | $282,937 | 1.3 % | 4.8 % | 8.6 % | -2.2 % | $1,417 | -0.1 % | 3.2 % |
Birmingham, AL | $259,462 | 0.6 % | 2.1 % | 7 % | 4.9 % | $1,422 | 0.6 % | 1.5 % |
*Table ordered by market size |
Forward-looking statements
This press release includes forward-looking statements about future housing market conditions, mortgage rates, rental trends and other economic factors. These statements are based on current expectations and assumptions, which are subject to change. Actual outcomes may differ materially due to changes in economic and market conditions. Forward-looking statements speak only as of the date of this release, and Zillow Group undertakes no obligation to update them.
About Zillow Group
Zillow Group, Inc. (Nasdaq: Z and ZG) is reimagining real estate to make home a reality for more and more people.
As the most visited real estate app and website in the United States, Zillow connects hundreds of millions of consumers with innovative technology, trusted agents and loan officers, and seamless digital solutions. With industry-leading tools and resources, Zillow supercharges real estate professionals so they can grow their businesses and deliver exceptional client experiences. For renters and housing providers, Zillow offers not only a robust marketplace but a set of end-to-end products and services to streamline applications, leases, payments and more.
Zillow's ecosystem spans the entire home journey — from dreaming and shopping to renting, buying, selling and financing.
Zillow Group's affiliates, subsidiaries and brands include Zillow®, Zillow Premier Agent®, Zillow Home Loans®, Zillow Rentals®, Zillow® New Construction, Trulia®, StreetEasy®, Out East®, HotPads®, Follow Up Boss®, ShowingTime®, dotloop® and Zillow® Closing.
All marks herein are owned by MFTB Holdco, Inc., a Zillow affiliate. Zillow Home Loans, LLC is an Equal Housing Lender, NMLS #10287 (www.nmlsconsumeraccess.org). © 2026 MFTB Holdco, Inc., a Zillow affiliate.
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SOURCE Zillow
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