Housing Supply Overview
U.S. pending home sales rose for the first time in three months, climbing 1.8% month-over-month, according to the National Association of REALTORS®. Economists polled by Reuters had forecast a 0.6% decline in contract signings. Pending home sales increased in the South, Midwest, and West but decreased in the Northeast. For the 12-month period spanning April 2025 through March 2026, Pending Sales in the Western Upstate Association of REALTORS® region rose 2.8 percent overall. The price range with the largest pending sales gain was the $750,001 to $1,000,000 range, where sales improved 11.9 percent.
The overall Median Sales Price increased 1.3 percent to $310,000. The property type with the largest gain was the Single-Family Homes segment, where prices improved 1.9 percent to $317,900. The price range that tended to sell the quickest was the $150,000 and Below range at 62 days. The price range that tended to sell the slowest was the $1,000,001 and Above range at 95 days.
Market-wide, inventory levels improved 43.2 percent. The property type with the largest gain was the Condos segment, where the number of properties for sale increased 66.7 percent. That amounts to 4.6 months of inventory for Single-Family Homes and 5.8 months of inventory for Condos.
Monthly Indicators
U.S. existing-home sales unexpectedly rose 1.7% month-over-month to a seasonally adjusted annual rate of 4.09 million, as lower mortgage rates helped boost buyer activity, according to the National Association of REALTORS® (NAR). Monthly sales increased in the Midwest, South, and West but decreased in the Northeast. Sales increased year-over-year in the South, but fell in the Northeast, Midwest, and West.
New Listings were up 13.2 percent to 1,009. Pending Sales decreased 24.4 percent to 465. Inventory grew 43.2 percent to 2,448 units.
Median Sales Price was up 1.3 percent to $309,900. Days on Market increased 21.9 percent to 89 days. Months Supply of Inventory was up 38.2 percent to 4.7 months.
Data from NAR show that inventory continued to grow nationwide, ticking up 2.4% month-over-month and 4.9% year-over-year to 1.29 million units heading into March, representing a 3.8-month supply at the current sales pace. Meanwhile, home prices increased for the 32nd consecutive month, climbing 0.3% year-over-year to $398,000.
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