The United States housing market remained in a “holding pattern” in April, with annualized home-price growth remaining at 0.4% for the second month in a row, Cotality said in its Home Price Insights report. 

The median home price rose from $409,500 in March to $417,450 in April. Looking ahead, Cotality expects home prices to rise 5.3% between April 2026 and April 2027. 

The lukewarm pace of price growth is due to a recent surge in mortgage rates that disrupted the traditional spring homebuying season, Cotality Chief Economist Selma Hepp said, adding that the national average obscures significant variation between housing markets: Midwest industrial hubs, parts of the Northeast and certain coastal markets. 

“Market strength suggests that some buyers remain insulated from mortgage-rate volatility and are supported by substantial home equity and stock market gains,” said Cotality Chief Economist Dr. Selma Hepp. “Meanwhile, markets that depend more heavily on traditional mortgage financing and rate-sensitive buyers are seeing prices stay relatively flat. Overall, fewer markets posted year-over-year price declines in April than in prior months, pointing to continued stabilization across the housing market. 

“While the national housing market may seem flat, local markets continue to tell very different stories,” Hepp added. “Annual home-price growth has changed little since the start of the year, but some markets, especially those supported by strong job and income growth in the West and more affordable Midwest markets, have seen notable acceleration in price gains.”