Home sales in the US fell 3.6% in March

This Monday, the National Association of Realtors (NAR) warned in its latest report about a sharp drop in sales of existing homes in the United States, which could be representing a setback in the real estate market after several years of adjustments due to high prices due to lack of inventory and high mortgage rates.

According to NAR analysis, Home sales fell 3.6% during the month of March, representing a seasonal annualized rate of approximately 3.98 million units, one of the lowest levels recorded since mid-2025.

Although many sector specialists considered that the market would have a marked boom for the spring season, the growing economic concerns and uncertainties generated in part by the war in Iran could limit activity in 2026 and turn back many future buyers.

In this regard, Daniel Vielhaber, an economist at Nationwide, noted that “in the short-term outlook, there are few signs of a rapid recovery in sales. We continue to foresee a stagnation in sales this year, especially in the first half, before a slow recovery as mortgage interest rates fall in the second half and until 2027,” he noted.

For its part, unexpectedly, Mortgage rates fell to 6.37% during the second week of April, after skyrocketing to almost 7%. However, despite the recent drop, the percentage continues to fluctuate until there is clarity about the economic future.

Lawrence Yun, NAR’s chief economist, told CBS that because mortgage interest rates have been rising, that has led them to cut home sales forecasts for this year.

Finally, NAR highlighted in its recent report that its forecasts for home sales fell from 14% to 4% this yearwhile its housing affordability index fell from 117.5 in February to 113.7 in March.

Keep reading:

• New pending home listings increased 4.6% in March, according to Zillow report
• Construction spending in the US decreased 0.3% during the month of January
• Latinos support the real estate market in Miami despite the rise in mortgage rates
• 5 cities in the US that offer financial incentives for new residents