Goldman Sachs
May 11, 2026
Real Estate Tech Existing Home Sales April Update
Sector ReportEquitiesReal EstateMacro Economic IndicatorsInformation TechnologyReal Estate
April 2026 US existing home sales missed expectations at 4.02 million units as mortgage rates rose to 6.33%. Goldman Sachs maintains a cautious outlook on real estate tech stocks, citing ongoing affordability constraints.
Key Takeaways
- 1.April 2026 US existing home sales of 4.02 mn missed the consensus estimate of 4.12 mn and were flat year-over-year.
- 2.Housing affordability continues to be challenged by the dual impact of rising mortgage rates and steady price appreciation.
- 3.Unsold inventory rose to 4.4 months supply in April, up from both the previous month and the previous year.
Table of Contents
- Bottom line
- Key numbers
- Key takeaways
- Disclosure Appendix
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Authors
Michael Ng, CFAZorayda MontemayorYash Goenka, CFA
Securities
OPENZGCOMP
Themes
Housing Affordability CrisisInterest Rate Impact on Volume
Regions
North AmericaUnited States