The NAHB/Wells Fargo Housing Market Index in the United States inched up to 38 in March 2026, from 37 in each of the previous two months, slightly above market expectations of 37. The component measuring current sales conditions rose by one point to 42, while sales expectations for the next six months climbed two points to 49. The index tracking traffic of prospective buyers increased three points to 25.
In March, 37% of builders reported cutting home prices, a marginal increase from 36% in February, with the average price reduction holding steady at 6%. The share of builders using sales incentives stood at 64%, down one percentage point from February, yet marking the 12th consecutive month that this share has remained above 60%.
“Many buyers remain on the fence, waiting for lower interest rates and facing ongoing economic uncertainty. At the same time, builders are contending with elevated land, labor, and construction costs, and nearly two-thirds continue to offer sales incentives in an effort to support the market,” said NAHB Chairman Bill Owens.
