March 2026 Existing-Home Sales Fall 3.6%
More homes were listed for sale for buyers to choose from in March and the value of homes continued to increase despite a slip in purchases from the previous month, a report released today by the National Association of REALTORS® (NAR) said.
Existing home sales, which the NAR defines as completed transactions for properties that include single-family homes, townhomes, condominiums and co-ops, decreased as much as 3.6% from February in all four regions of the nation and dropped 1% from the same time last year.
Total homes for sale at the end of March were 1.36 million units, up 3% from February and up 2.3% from March 2025. With more options on the market, potential buyers have a better chance to search for their dream home than they did last year.
Current homeowners, whether seasoned or recent, may have seen their home values increasing in March. The NAR reported that March was the 33rd consecutive month that median home prices have increased.
“Because inventory remains limited, the median home price rose to a new record high for the month of March,” NAR Chief Economist Lawrence Yun said. “That price growth has helped the typical homeowner accumulate $128,100 in housing wealth over the past six years.”
With homeowners increasing their housing wealth and more homes currently available, it may be time to consider joining the housing market.
Which regions showed changes in existing home sales?
All four regions the NAR tracks in the U.S. showed decreases in sales of existing homes in March compared to the previous month, the NAR said.
- Sales of existing homes in the West decreased 1.3% from February.
- Completed transactions in the South dipped 3.6% from the previous month.
- In the Midwest, existing home sales also dropped 4.2% compared to a month earlier.
- The Northeast saw an 8.5% decrease in existing home sales from February.
Even though there was a decrease in sales in all regions compared to last month, the South and West both saw an increase in sales compared to a year earlier.
March traditionally bridges the gap between the winter and spring homebuying season. Winter typically experiences lower home prices, and spring generally introduces a larger inventory, so it could be a great time now for many potential homebuyers to join the housing market.
Did mortgage rates show any change?
According to data from Freddie Mac, the 30-year fixed rate mortgage averaged 6.37% as of April 9. That’s down from 6.46% one week before and down from 6.62% one year ago.
A continued reduction in mortgage interest rates will likely be a welcome sign to prospective homebuyers. A decrease in mortgage rates could also signal a continuing thaw in the housing market as the spring homebuying season gets into full swing.
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*National average rates from Freddie Mac as of April 9, 2026, are not advertised rates from OriginPoint.
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