The Midwest is leading America's spring housing rebound because of 'buyers who are actually showing up,' Realtor.com says | Fortune

Contract signings increased 4.5% year over year in April, the strongest reading in three years, while new listings reached the highest level since 2022. For three springs, mortgage rates, affordability pressures, tariffs, and inflation have limited buyer activity, while sellers have maintained pandemic-era price expectations. Since mortgage rates moved from sub-3% lows to the 6%–7% range, buyer and seller indicators have shifted in favorable directions. Midwest housing markets are gaining momentum because they are more affordable for many Americans. Among 50 large metros, 21 saw both new listings and contract signings rise year over year, led by Kansas City, Louisville, Indianapolis, Columbus, and Cincinnati.

"Contract signings rose 4.5% year-over-year in April-its strongest reading in three years-and new listings hit their highest level since 2022, according to Realtor.com's Spring 2026 Housing Market Progress Report published Thursday."

"For three straight springs, mortgage rates, a housing affordability crisis, tariffs, inflation, and more have rattled buyers. Meanwhile, sellers held onto pandemic-era price expectations, leaving them unwilling to let go of their home for less than they thought it was worth. But now, both buyer and seller metrics are moving in the right direction since mortgage rates started surging from the sub-3% pandemic-era lows to the 6%-7% range today."

"Of the 50 largest U.S. metros, 21 saw both new listings and contract signings rise year over year, and the Midwest swept the leaderboard. Kansas City led with new listings up 12.5% and signings up 20.7%. Louisville followed at 13.6% and 18.9%, respectively, then Indianapolis (14.7%, 6.6%), Columbus (8.0%, 7.9%), and Cincinnati (10.8%, 4.7%)."

""For the first time in three years, we're seeing contract signing growth that genuinely outpaces the trend of the recent past," Jake Krimmel, senior economist at Realtor.com, said in the report. "Buyers have been sidelined, but they haven't disappeared-they've simply been waiting for the right conditions. In the metros where sellers have come to market with realistic prices, buyers are showing up.""

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