US Existing-Home Sales Fall 3.6% in March

On Monday, the National Association of Realtors (NAR) reported that total existing-home sales—completed transactions for single-family homes, townhomes, condominiums, and co-ops—fell 3.6% in March to a seasonally adjusted annual rate (SAAR) of 3.98 million. Year-over-year, sales were down 1.0%.

Sales declined across all four regions. Compared to a year ago, sales were higher in the South and West but lower in the Northeast and Midwest.

Total housing inventory at the end of March was 1.36 million units, up 3.0% from February and up 2.3% from March 2025. At the current sales pace, unsold inventory sits at a 4.1-month supply, up from 3.8 months in February and up from 4.0 months a year earlier.

The median existing-home price for all housing types was $408,800 in March, a 1.4% increase from $396,800 a year ago. This marked the 32nd consecutive month of year-over-year price gains.

The NAR Housing Affordability Index declined to 113.7 in March, down from 117.5 in February but up from 104.2 a year earlier. Year-over-year, affordability improved across all regions, rising 4.1% in the Northeast, 5.3% in the Midwest, 10.0% in the South, and 12.7% in the West.