Existing-Home Sales Fell in March

Existing-home sales declined once again in March, according to a recent report from the National Association of Realtors. Month-over-month existing-home sales declined by 3.6%, and on a year-over-year basis, existing-home sales declined by 1%. The report suggests that this decline in sales is likely due to low housing inventory causing home prices to rise across both new and existing segments of the housing market.

A lack of new-home inventory is keeping prices elevated across the housing market

Total housing inventory is up by 3% from February 2026 and up by 2.3% from March of last year. However, inventory remains historically low, which in turn, is keeping home prices high. In March, the median existing-home price was $408,800, up by 1.4% from the same time last year. March was also the 33rd consecutive month of year-over-year price increases.

Despite the nationwide decline in sales, some regions of the U.S. saw home sales pick up

Month-over-month sales fell in all four regions. However, on a year-over-year basis, existing-home sales rose in the South and West by a respective 2.2% and 1.3%. Meanwhile, year-over-year sales fell in the Northeast by 12.2% and in the Midwest by 3.2%.