Home Listings Outpace Buyer Demand in April

While the 2025 spring homebuying season kicked off to a slow start, newly pending homes sales increased during April. According to recent data from housing market platform Zillow, newly pending-home sales grew by 3.4% from March to April, while new listings jumped 9.8%. However, economic uncertainty has taken some steam out of the typical spring buying season, leading to less intense competition among homebuyers than in past years. Newly pending sales still declined by 2.5% compared with last April.

On the other hand, sellers appear to be in a stronger financial position this spring. New listings from sellers are up 7.6% year-over-year, outpacing buyer activity. In fact, 44 of the 50 largest U.S. metro areas saw annual increases in new listings.

Of course, competition varies regionally. The strongest buyer’s markets are on the West Coast and Northeastern US, where geographic constraints and strict building regulations have produced severe housing shortages. In contrast, builders have contributed to an inventory recovery in the Southeastern US, producing markets where buyers hold the negotiating power.