US Homes for Sale on the Rise

The inventory of existing homes for sale rose to 1.2 million in April, according to data from the National Association of Realtors (NAR), marking the highest point since October 2022, as prices and borrowing costs remain elevated.

Compared to March, the available unsold homes in the market was up 9 percent, to 3.5 months' worth of supply and jumped more than 16 percent from the same time a year ago, NAR reported.

Sales of existing homes fell by nearly 2 percent to a yearly rate of 4.14 million amid prices that have gone up by close to 6 percent. This has brought the median price to about $408,000, which Realtors say is the 10th straight month of annual price increases and the highest price ever for April.