US Existing Home Sales Reportedly Fell to Nine-Month Low in March

US Existing Home Sales Reportedly Fell to Nine-Month Low in March

The United States housing market reportedly weakened further in March 2026, as existing home sales declined more than expected amid cautious consumer sentiment and slower job growth. Data released by the National Association of Realtors (NAR) showed that existing home sales dropped by 3.6% from the previous month to a seasonally adjusted annualized rate of 3.98 million units, marking the lowest level recorded in nine months. The reading also came in below market expectations of 4.06 million units, indicating that elevated borrowing costs and economic uncertainty may have continued to weigh on housing demand.

Housing inventory reportedly edged slightly higher during the month, rising to 1.36 million units from February levels. At the current sales pace, the inventory represented approximately 4.1 months of supply. Despite the monthly increase, both inventory levels and the sales-to-supply ratio remained below long-term historical averages, suggesting that supply constraints may have persisted across several regions. Limited housing availability was also seen as a factor supporting home prices even as sales activity softened.

The median sales price for existing homes reportedly increased 1.4% from a year earlier to $408,800 in March, the highest level recorded for the month since November. NAR Chief Economist Lawrence Yun reportedly stated that home sales remained sluggish and continued to trail last year’s pace due to weaker consumer confidence and softer employment growth. He also noted that constrained inventory conditions contributed to higher home prices, adding that homeowners had accumulated significant housing wealth over recent years as property values appreciated.

Meanwhile, analysts at Trading Economics reportedly projected that existing home sales in the United States could decline further to around 3.8 million units by the end of the current quarter. Long-term econometric models reportedly suggested sales activity may trend near 3.6 million units in 2027 before recovering toward 4 million units in 2028, reflecting expectations of a gradual stabilization in the housing sector over the coming years.