The average 30-year fixed mortgage rate hit 6.33% in April 2026, according to Freddie Mac — down from 6.73% this time last year. That’s not a dramatic drop, but it’s real money.Here’s what that difference looks like on a $400,000 loan: at 6.73% you’re paying $2,596/month. At 6.33% that drops to $2,495/month — $101 less every single month, or $1,212 back in your pocket every year.NAR’s chief economist Lawrence Yun projects rates will average around 6% for 2026. If that happens, it could unlock an estimated 5.5 million additional qualified buyers — including 1.6 million renters making the leap into homeownership for the first time.
Should I Buy a House in 2026 or Wait? Here's What the Data Actually Says
TL;DR
TL;DR: Mortgage rates are at 6.33%, inventory is up 20% from last year, and NAR is forecasting a 14% jump in home sales — 2026 is shaping up to be the best buying window since 2020.
As of April 2026, there are 4.4 months of unsold inventory on the market nationally — up from 4.3 months a year ago and the highest level in several years. Inventory is running about 20% above last year’s levels.
What does 4.4 months mean in plain English? A balanced market is 5-6 months. We’re still slightly undersupplied nationally, which is why prices keep rising — but the direction is improving. More choices, fewer bidding wars, and more room to negotiate.
The biggest inventory gains are happening in the South and West, where new construction has been strongest. The Northeast and Midwest are still lagging behind pre-pandemic norms.
The national median existing-home price hit $417,700 in April 2026 — a 0.9% increase from a year ago. That marks the 34th consecutive month of year-over-year price gains. Prices are not coming down nationally.
The good news: price growth is slowing dramatically. We’re talking under 1% annually now versus the 15-20% spikes of 2021-2022. NAR forecasts just 4% price growth for all of 2026 — roughly in line with inflation, meaning homes are becoming more affordable in real terms even if the sticker price keeps climbing.
One genuinely surprising stat: right now the median resale home is actually more expensive than the median newly built home — a rare reversal driven by builder incentives and where new construction is concentrated. If you’re open to new construction, this is the moment to look.