The Housing Market Hotness Index increased to 96.49 for the week ending April 12, 2026, up from 95.01 the prior week, signaling continued resilience in the housing market despite elevated mortgage rates and weaker consumer confidence tied to the Iran conflict. Although mortgage rates are higher than they were at the end of February, they remain roughly 50 basis points lower than a year ago, offering a modest improvement in affordability compared to last year. It is also important to note that most homes closing in early April likely went under contract in February or March, meaning the recent rise in rates may not yet be fully reflected in current activity. In many cases, buyers may have locked in lower rates earlier in the year, allowing them to complete transactions under more favorable financing conditions.
Housing conditions continue to differ significantly across regions. In California, counties such as Santa Clara, San Francisco, and San Mateo remain highly competitive, driven by strong demand. Strength is also evident in markets like Monroe County, New York, and Kent County, Michigan. By comparison, activity is more muted in parts of Florida, as well as in Davidson County, Tennessee, and Honolulu County, Hawaii. These contrasts highlight a broader trend of divergence, with local factors playing an increasingly important role in shaping market outcomes.
*Index values are subject to revision as deemed necessary, contingent upon the receipt of new or updated data.
