Newly pending sales in April fell 2.5% compared with April 2024 as economic uncertainty is causing some buyers to hesitate, according to a market report from Zillow.
"Economic anxieties disrupted the start of the home shopping season. In April, many households didn't know what was next for their jobs, investment portfolios or budgets. This kept some buyers on the sidelines, waiting for clearer economic signals before making major purchases like a home," Zillow Senior Economist Kara Ng said in a statement. "As uncertainty has since eased, improved availability and affordability in homes could lead to a rebound in the coming months."
Sellers are more active, as new listings increased 9.8% from March to April and 7.6% compared with April 2024, Zillow said..
Nearly 25% of Zillow listings underwent a price cut in April—the highest share for this time of year since at least 2018.
Read the full report here.
