Remember in the early 2020s, when home prices skyrocketed? It was a wild time to be not only a real estate reporter, but also a first-time homebuyer. I bought my house in 2022, and I’m still too embarrassed to tell people how much over asking I had to offer for the seller to accept my bid.
The tables have turned over the last year, though. Home price growth has slowed, and costs have even decreased in some parts of the United States. Many sellers have priced their homes as though it’s still 2022, but the housing market is different now, so they’ve had to slash their listing prices.
But the latest data from real estate technology company Redfin reminds us of one crucial thing: The housing market is always changing.
The Redfin report revealed that the median annual home sale price increased 2.4% in April, which is the biggest gain in 13 months.
“This is the first time post-pandemic I’ve felt the frenzy and comeback of a true spring market,” says Dawn Kane, a Redfin Premier real estate agent.
Homes are selling faster — and for more money
Homes are still selling more slowly than before the COVID-19 pandemic, but the Redfin data shows ways that home-selling speed is improving.
Selling speed has now increased for two consecutive months. The last time sales accelerated on a monthly basis was in July 2024. Regarding houses that went under contract in April 2026, the typical one did so in 49 days.
Not only are properties selling more quickly, but they’re selling for more money. After all, the two often go hand in hand.
Related: Zillow reveals why spring housing market is turning upside down
In April, the median sale price was $393,173. This is an annual growth of 2.4% and a monthly increase of 1.6%.
This is good news for sellers, because your home could sell a little faster than it would have earlier in the year. And, hopefully, you’ll pocket more money from the sale.
Homebuyers may be frustrated that home sale prices are increasing a bit more aggressively than in 2025 and early 2026. However, Redfin found that more sellers are listing their homes too. More supply naturally leads to higher prices, but the good news for buyers is that this translates to more options when house hunting.
Redfin discovers home listing price cuts are winding down
As I mentioned, sellers have had to cut their listing prices in recent months. One reason is that many were listing their homes as though it was still 2022, when properties were selling for significantly over their asking prices.
And that’s part of the larger reason: Nationally, we are no longer experiencing a strong seller’s market where sellers hold all of the power. The housing market is self-correcting, and some parts of the U.S. are even buyer’s markets. As a result, home prices cannot stay as high as they once were.
But according to Redfin data, the percentage of homes that sold for under the initial listing prices has inched down for six straight months. In April, 60.5% of houses sold for less than asking price.
More on home sales and the housing market:
- Berkshire Hathaway sends urgent message to home sellers
- The hidden reason mortgage rates won’t drop yet
- Housing market shift offers big opportunities in May 2026
This means more sellers are pricing their homes to match their local housing markets. And they should continue to do so.
“Market data and buyer activity indicate that overpriced homes remain on the market longer, while competitively priced properties sell more quickly and efficiently, often receiving multiple offers,” says Kane.
Want to sell your house faster and receive competitive offers? List it at a realistic price from the get-go.
Where in the U.S. are home prices increasing?
I’ve provided Redfin’s national data for home prices, but price trends vary depending on where you live. Thankfully, Redfin also provided insights for the 50 largest metro areas in the U.S.
- The year-over-year median home price increased in 30 of the 50 largest U.S. metros.
- The largest spikes in yearly median home sales were in San Francisco (10.7%), Detroit (10.1%), and Providence, Rhode Island (9%).
- The annual median prices fell most substantially in Dallas (-3.8), Seattle (-3.3%), and San Jose, California (-3.2).
- The areas with the highest median home prices were in coastal California: San Francisco ($1.72 million), San Jose ($1.65 million), and Anaheim ($1.25 million).
Source: Redfin.
Related: Redfin issues blunt warning about mortgage rates and housing market
