U.S. April Existing Home Sales - Flat picture, downside risk
April existing home sales at 4.02m were slightly softer than expected and up only 0.2% from March, but with March revised up to 4.01m from 3.98m the net result can be seen as close to consensus, while trend continues to have little direction.
Recent housing sector data has been mixed but generally with little direction. A modest improvement in late 2025 that may have been in response to Fed easing has faded and with Fed easing expectations fading as inflationary risks rise the risk is that trend weakens in the coming months.
Sales are unchanged yr/yr after five straight marginal negatives while the median price is up a marginal 0.9% yr/yr versus 1.5% in March.
Monthly gains in the median price of 2.1% in April and 2.8% in March are largely seasonal but yr/yr growth is a little improved from outcomes of 0.3% or 0.4% in December, January and February.
