Trending Now - March Sees 3.6% Dip in US Home Sales, Spring Outlook Wanes
WHO:
ABC News - Lawrence Yun, Chief Economist of the National Association of Realtors (NAR).
National Association of REALTORS® - Organization providing data on home sales.
WHAT:
ABC News - Existing home sales fell to their slowest pace in nine months in March 2026, with a seasonally adjusted annual rate of 3.98 million units, which was below the expected pace of 4.06 million according to FactSet.
National Association of REALTORS® - The national median sales price for existing homes reached an all-time high for any March at $408,800, marking the 33rd consecutive month of year-over-year price increases.
National Association of REALTORS® - The inventory-to-sales ratio is below historical norms, with an additional 300,000 to 500,000 homes needed to normalize market conditions.
National Association of REALTORS® - The Housing Affordability Index fell to 113.7 in March 2026, down from 117.5 in February 2026.
National Association of REALTORS® - The median time on market for properties decreased to 41 days in March 2026, down from 47 days in February 2026.
ABC News - Existing home sales in the U.S. fell 3.6% in March 2026 from February, reaching a seasonally adjusted annual rate of 3.98 million units.
National Association of REALTORS® - Existing home sales decreased by 3.6% month-over-month in March 2026.
National Association of REALTORS® - Year-over-year sales fell 1% compared to March 2025.
National Association of REALTORS® - The national median sales price for existing homes rose to $408,800 in March 2026, a 1.4% increase from March 2025.
National Association of REALTORS® - The inventory of homes for sale in March 2026 was 1.36 million units, up 3.0% from February 2026 and 2.3% from March 2025.
National Association of REALTORS® - The average rate on a 30-year mortgage was 6.18% in March 2026.
WHERE:
ABC News - The decline in home sales was noted across the Northeast and Midwest regions of the U.S.
National Association of REALTORS® - The report covers existing home sales across the United States.
WHEN:
ABC News - The report on home sales was released on April 13th, 2026.
National Association of REALTORS® - Existing home sales data pertains to March 2026.
WHY:
National Association of REALTORS® - The rise in mortgage rates has led to a downward revision in the 2026 existing-home sales forecast, now projected to increase by 4%, down from a previous forecast of 14%.
ABC News - Lower consumer confidence and softer job growth are cited as reasons holding back buyers.
National Association of REALTORS® - Limited inventory is described as a major constraint on the market.
HOW:
ABC News - The average rate on a 30-year mortgage was reported at 6.37% last week, according to Freddie Mac, reflecting a rise since the onset of the war with Iran.
ABC News - The sales figures are based on data from the National Association of Realtors.
National Association of REALTORS® - The report provides data on the level of home sales, price, and inventory to the real estate ecosystem.
(UPDATED April 13, 2026 23:14 UTC)
Existing home sales fell to their slowest pace in nine months in March 20th26, with a seasonally adjusted annual rate of 3.98 million units, which was below expectations. Meanwhile, the national median sales price for existing homes reached an all-time high for any March at $408,800, marking the 33rd consecutive month of year-over-year price increases, while the Housing Affordability Index dropped to 113.7. The average rate on a 30-year mortgage was reported at 6.37% last week, reflecting a rise since the onset of the war with Iran, which has contributed to a downward revision in the 2026 existing-home sales forecast.
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(UPDATED April 13, 2026 21:16 UTC)
Existing home sales in the U.S. fell 3.6% in March 20th26 compared to February, reaching a seasonally adjusted annual rate of 3.98 million units, according to a report released by the National Association of Realtors. The national median sales price for existing homes rose to $408,800, marking a 1.4% increase from March 20th25, while the inventory of homes for sale increased to 1.36 million units, up 3% from the previous month. Experts attribute the decline in sales to lower consumer confidence, softer job growth, and limited inventory, which continues to constrain the market.