April Marks Record High: US median home-sale price surges by 6%

Posted on May 24, 2024   |  

In April, the median US home sale price surged by 6.2% year-over-year, hitting a historic high of $433,558.

Despite a 1.7% month-over-month increase in April, new listings are still 20% below pre-pandemic levels, as homeowners are reluctant to sell due to favorable mortgage rates acquired during the pandemic.

Last April, new listings hit record lows, contributing to the substantial year-over-year gain seen in April 2024.

Home sales remained relatively stable in April compared to the previous month but decreased by 1.4% year-over-year.