Existing home sales rise 0.2% in April

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1. Existing home sales rise 0.2% in April

Existing home sales edged up 0.2% in April to a seasonally adjusted annual rate of 4.02 million, according to the NAR sales report released Monday. Compared to a year earlier, sales activity was unchanged.

The median existing-home price across all property types rose 0.9% year over year to $417,800. Housing inventory at the end of April totaled 1.47 million units, up 5.8% from March and 1.4% higher than a year ago. That represents a 4.4-month supply, compared to 4.2 months in March and 4.3 months a year earlier.

Regionally, sales increased month over month in the Midwest and South, remained steady in the Northeast, and declined in the West. On an annual basis, sales rose in the South, held steady in the West, and declined in both the Northeast and Midwest.

2. Consumer sentiment hits record low in early May

Consumer sentiment fell to a record low in early May, driven by inflation concerns tied to rising gas prices and ongoing tariffs, according to a University of Michigan survey released Friday.

The University Consumer Sentiment Index, tracked since the 1940s, dropped to 48.2 in early May 2026. That marks a 3.2% decline from the previous month and a 7.7% drop compared to a year ago.

The survey also showed improving inflation expectations. Consumers now expect inflation to reach 4.5% over the next year, down from 4.7% in April. Long-term inflation expectations over the next five years also eased slightly to 3.4%, down from 3.5% last month.

A MESSAGE FROM DAVE YOUR MORTGAGE GUY

That high appraisal is worth more than you think.
Most agents treat it as good news and move on.
It's actually a negotiating tool and most buyers never use it.

Here's the exact scenario I just closed:
The home appraised $10,000 over the sales price. We amended the contract price up by that $10,000 and had the seller pay it back as closing costs.
The seller netted the same.

We used that $10,000 to:

• Buy the interest rate down by an entire 1%

• Lowered the monthly payment by approximately $225

• Or cover closing costs to lower out-of-pocket at closing

• Used a Conventional Loan

👉 Watch the full breakdown here
If you have a buyer buying a home with built-in equity they don't even know they have yet — forward this video. It could change how WE structure the whole deal!

3. Catch up quick

🌞 Redfin launches Sunscore to show homebuyers how much sunlight a home gets. (Redfin)

🤖 ChatGPT vs. Claude vs. Gemini: Which AI is best for agents? (BAM)

📈 April jobs report shows 115K payroll gains. (TheGuardian)

🏠 NVIDIA wants to turn your home into a mini AI data center. (Tom’sGuide)

A MESSAGE FROM THE RUNDOWN AI

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4. eXp acquires NextHome and begins trading as AGNT

eXp World Holdings has acquired NextHome, a franchise network with more than 5,400 agents and 500 franchise offices, for an undisclosed amount. The company also rebranded its Nasdaq ticker from EXPI to AGNT.

For current NextHome franchise owners and agents, day-to-day operations are expected to remain unchanged. NextHome will continue operating independently while retaining its leadership team, franchise model, culture, and brand identity.

The acquisition follows Compass’s purchase of Anywhere and Real’s acquisition of RE/MAX, marking three major consolidation moves across the real estate industry in rapid succession. eXp CEO Leo Pareja compared the trend to the airline industry’s consolidation around major players such as United, Delta, and American.

5. Pending home sales hit highest level since 2022

Pending home sales reached their highest level since September 2022, according to a new report from Redfin. On a seasonally adjusted basis, pending sales rose 7.7% year over year with 340,101 contracts signed.

Here are the key takeaways:

• Active listings are up about 1% year over year, giving buyers slightly more options.

• Just 26.4% of homes are selling above asking price, the lowest share for this time of year in at least five years.

• The median sales price was $394,803, up 1.9% year-over-year.

• The typical home is taking 43 days to go under contract, three days longer than a year ago.

• In Texas, pending sales jumped 14.6% in Austin, while Houston saw a 9.3% decline. Dallas and Fort Worth also posted sharp drops in new listings.

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