Existing home sales in the United States declined 3.6% in March 2026 from the prior month, falling to a seasonally adjusted annual rate of 3.98 million units. This was weaker than market expectations, which had called for a more moderate drop to 4.06 million units.
Housing inventory edged up to 1.36 million units, equivalent to 4.1 months of supply at the current sales pace. Despite this increase, both the absolute inventory level and the months’ supply remain well below their long‑term historical averages.
The median sales price of existing homes rose 1.4% year over year to $408,800, the highest level since November. According to National Association of Realtors (NAR) Chief Economist Dr. Lawrence Yun, “March home sales remained sluggish and below last year’s pace. Lower consumer confidence and softer job growth continue to hold back buyers.” He added, “Because inventory remains limited, the median home price rose to a new record high for the month of March. That price growth has helped the typical homeowner accumulate $128,100 in housing wealth over the past six years.”
