Existing home sales in the United States fell 3.6% in March 2026 to a seasonally adjusted annual rate of 3.94 million units, according to the National Association of Realtors (NAR) [29, 30]. This decline follows a rebound in February and reflects ongoing challenges with high mortgage rates and limited inventory.
Key Market Statistics (March 2026)
- Sales Volume: 3.94 million (annualized rate), down 3.6% from February and 1% year-over-year.
- Median Sales Price: Rose to a record high for the month of March, driven by persistent supply constraints.
- Regional Performance: Month-over-month sales fell in all four major U.S. regions (Northeast, Midwest, South, and Wes.
- Inventory Levels: Remain a major constraint, staying well below historical norms.
Economic Context & Forecasts
- Driver of Decline: NAR Chief Economist Lawrence Yun cited "lower consumer confidence and softer job growth" as primary factors holding back buyers in March.
- Revised 2026 Outlook: Due to rising mortgage rates, NAR lowered its 2026 forecast; existing-home sales are now expected to increase 4% for the full year (down from previous estimates).
- Wealth Accumulation: Despite slow sales, price growth has allowed typical homeowners to accumulate approximately $128,100 in housing wealth over the last six years.
Historical Comparison
- February 2026: Sales had previously increased 1.7% to a rate of 4.09 million units.
- January 2026: Witnessed a sharp 8.4% drop to 3.91 million units, the lowest level since September 2024.
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