Existing-home sales drew back in March, reversing February’s modest gains as affordability pressures and rising home mortgage rates continued to weigh on buyer activity. Sales fell 3.6% to a seasonally adjusted yearly rate of 3.98 million, slipping 1.0% below year-ago levels.
“March home sales remained sluggish and listed below last year’s pace,” stated NAR Chief Economist Lawrence Yun, pointing to weaker consumer confidence and softer job development as continuous headwinds.
Stock enhanced a little, but issues about need continue. Overall housing inventory rose to 1.36 million units, up 3.0% from February and 2.3% greater than a year back, representing a 4.1-month supply of homes.
“Stock remains a significant restraint on the market,” Yun stated, noting that an additional 300,000 to 500,000 listings would assist normalize conditions and reduce pressure on purchasers.
Minimal supply continues to support cost growth. The mean existing-home cost climbed to $408,800, up 1.4% year-over-year and marking the 33rd consecutive month of yearly boosts.
Affordability showed combined signals. The Housing Cost Index dipped to 113.7 in March from 117.5 in February but stays above year-ago levels, with improvements taped throughout all regions.
Regional Breakdown (Sales and Rates, March 2026)
| Area | Sales (yearly rate) | Mommy Change | Typical Price | YoY Modification |
|---|---|---|---|---|
| Northeast | 430k | -8.5% | $494,500 | +5.7% |
| Midwest | 920k | -4.2% | $315,500 | +4.9% |
| South | 1.86 m | -3.1% | $362,600 | +0.8% |
| West | 770k | -1.3% | $613,400 | -1.3% |
National Market Stats
- Overall Real Estate Stock: 1.36 million systems (up 3.0% from February; up 2.3% YoY)
- Unsold Stock Supply: 4.1 months (up from 3.8 last month; up from 4.0 one year ago)
- Typical Existing-Home Cost: $408,800 (up 1.4% YoY; 33rd consecutive yearly increase)
- Single-Family Typical Cost: $412,400 (up 1.3% YoY)
- Condo/Co-op Median Cost: $371,500 (up 2.3% YoY)
- Single-Family Sales: 3.63 million (down 3.5% MoM; down 0.3% YoY)
- Condo/Co-op Sales: 350k (down 5.4% MOTHER; down 7.9% YoY)