The Housing Market Hotness Index rose to 97.31 for the week ending April 26, 2026, up from 96.61 the previous week and above 95.66 at the same time last year. The uptick suggests a modest pickup in market activity, as buyers respond to mortgage rates that are lower than they were a year ago. While this has helped bring some demand back into the market, overall conditions remain subdued compared to the stronger activity seen in 2023 and 2024. Ongoing affordability challenges and broader economic uncertainty continue to keep both buyers and sellers cautious. The improvement is incremental rather than significant, pointing to a market that is stabilizing, but not fully rebounding.
At the local level, conditions continue to vary widely. San Francisco County, CA ranked as the hottest market for the week, followed by Monroe County, NY; Hartford County, CT; San Mateo County, CA; and Kent County, MI, all of which are benefiting from relatively strong demand. San Francisco’s housing market is booming because of AI. In contrast, activity remains more muted in Miami-Dade, Broward, and Palm Beach Counties in Florida, along with Honolulu County, HI, and Queens County, NY, where slower demand and higher inventory are weighing on market momentum.
*Index values are subject to revision as deemed necessary, contingent upon the receipt of new or updated data.
