April 2025 Monthly Housing Market Trends Report – Realtor.com Rewritten: Monthly Housing Market Trends Report for April 2025

pril, homes spent a median of 50 days on the market, signaling a slight increase of four days compared to the previous year. While this indicates that homes are taking slightly longer to sell, they are still moving faster than before the onset of the pandemic in many regions. The extended time on the market may be attributed to the increase in inventory, giving buyers more options to choose from. Despite the housing market offering more choices to buyers, homes are still selling at a relatively fast pace compared to historical norms.

The national median list price for homes in April was reported at $431,250, which remained largely unchanged from the previous year. However, there was a modest increase of 1.1% in the price per square foot, indicating slight growth in home values. This stability in prices, combined with a rise in listings, is providing buyers with more opportunities to find a suitable home within their budget.

Affordability continues to be a significant concern in the housing market, with the required income to afford the median-priced home increasing by almost $47,000 compared to 2019. This rise in required income highlights the ongoing challenge of affordability for many prospective homebuyers. Additionally, 18% of listings saw price reductions in April, the highest percentage since at least 2016. This trend of price reductions reflects the mounting affordability pressures faced by both buyers and sellers in the current market conditions.

The increase in mortgage rates in April, following a slight easing in March, raised concerns in the market surrounding government trade and economic policies, contributing to uncertainty among buyers and sellers. The return of mortgage rates to levels seen in the previous year is expected to have a dampening effect on buyer and seller activity in the coming months. The mounting challenges of affordability, combined with uncertain market conditions, are likely to shape the real estate landscape in the foreseeable future.

In conclusion, the housing market in April witnessed a rise in inventory, providing buyers with more choices while homes took slightly longer to sell. Prices remained stable, with a slight increase in home values, although affordability concerns persisted, necessitating higher income levels to afford a median-priced home. With mortgage rates returning to last year’s levels and price reductions becoming more common, the real estate market is facing challenges that could impact buyer and seller activity in the upcoming months. The evolving market conditions underscore the importance of staying informed and adaptable in navigating the complexities of today’s housing market.