Existing-home sales decreased by 3.6% month-over-month in March, according to the National Association of REALTORS® Existing-Home Sales Report. The report provides the real estate ecosystem—including agents, homebuyers and sellers—with data on the level of home sales, price, and inventory.

“March home sales remained sluggish and below last year’s pace,” said NAR Chief Economist Dr. Lawrence Yun. “Lower consumer confidence and softer job growth continue to hold back buyers.”

Month-over-month sales fell in all four regions. Year-over-year sales rose in the South and West and fell in the Northeast and Midwest.

“Inventory remains a major constraint on the market,” Yun said. “The inventory-to-sales ratio, or supply-to-demand ratio, is below historical norms. An additional 300,000 to 500,000 homes for sale would help bring the market closer to normal conditions and allow consumers to make purchase decisions without feeling rushed.”

“Because inventory remains limited, the median home price rose to a new record high for the month of March,” Yun added. “That price growth has helped the typical homeowner accumulate $128,100 in housing wealth over the past six years.”

NAR also revised its 2026 housing forecast. Due to the upward trajectory of mortgage rates, NAR now expects existing-home sales to increase 4% this year, down from the previous projection. New-home sales are now expected to remain flat, a downward revision from the prior forecast of a 5% gain. The median home price forecast remains unchanged, with prices still projected to rise 4% in 2026.

“Mortgage rates have been rising, and that has led us to trim our home sales outlook for the year,” said Yun. “Even with a more modest pace of sales growth, home prices continue to steadily increase due to minimal inventory growth.”

Read more details, including regional data, here…

Source: National Association of REALTORS® 4/13/26