March 20, 2026 Economic and Housing Market Update

March 20, 2026

Overview

• The Realtor.com® economics team video update gives you the relevant economic and real estate information you need to know each week to navigate the housing market as a homebuyer, home seller, or industry professional.
• For the week ending March 20, Realtor.com® Senior Economist Jake Krimmel takes stock of the housing market as spring officially arrives. He discusses whether the housing market is finally poised for a rebound after several slow, unaffordable years — and why the tea leaves are hard to read right now.
• Jake covers the week’s key macro developments: the War in Iran injecting fresh uncertainty into the economy, mortgage rates hitting their highest level of 2026, and the Fed holding steady for the second straight meeting amid growing inflation concerns.
• He notes that while affordability has quietly improved compared to last year, the macro picture is far less stable than it was just a month ago.
• Jake reviews two backward-looking sales reports that set the stage for spring: new home sales struggled in January amid weak demand, while February pending sales bounced back as rates dipped.
• He then highlights the most encouraging part of the story for buyers: inventory is up 5.6% year over year, list prices have fallen for eight straight weeks, and per-square-foot asking prices are at their lowest since Realtor.com began tracking in 2017. Also, national median asking rents also hit a four-year low in February.
• Finally, Jake shares findings from the Realtor.com Best Time to Sell report, identifying April 12–18 as this year’s optimal listing window nationally, while noting that the timing varies by metro.
• Find all the details including full reports and our housing data for download at realtor.com/research. You can also follow us on X (formerly twitter) for real time updates. And instagram @realtordotcomecon for graphics.

Reports and articles referenced

Housing data for download

VIDEO TRANSCRIPT:

• Spring is finally here! And with it, one housing question is top of mind: after several slow, unaffordable years, is this finally when the market rebounds? Honestly, the tea leaves are really hard to read right now.  Let me run through the housing outlook – from macro to micro – to explain why. 
• Let’s start with the macro picture: the War in Iran has injected a whole lot of uncertainty into the economy. Gas prices are up, and markets are rattled. As a result, mortgage rates spiked again this week to 6.22% – their highest in 2026. 
• Also this week, The Fed held rates steady for the 2nd straight time. There’s real concern inflation could reignite even as the job market is slowing. So for now, the Fed is back in wait and see mode. 
• But amid all this uncertainty, here’s some context that matters for the housing market: even after three weeks of increases, mortgage rates are still 45 basis points lower than this time last year. And they’re still at their lowest March level since 2022. That can translate into real savings  for buyers compared to years’ past. 
• So, affordability is better than a year ago, but the macro picture is much shakier than a month ago. 
• Now, what’s the housing market actually look like on the ground? Two pieces of home sales data this week. And yes they’re backward looking, but they’re an important setup for everything coming down the pike.  New home sales struggled in January – down double digits year over year with prices down nearly 7%. Winter weather played a role there, but weak buyer demand did too. February’s pending sales told a more hopeful story: contract signings bounced back as rates dipped last month. This’ll be one to watch going forward.
• The inventory picture is the most encouraging part of the story for buyers. Active listings are up 5.6% year over year, and median list prices have fallen more than 2% for eight straight weeks. On a per-square-foot basis, asking prices fell 2.6% – the lowest since we started tracking in 2017.
• Renters are catching a break too — national median asking rents hit a four-year low in February. For buyers and for renters, overall affordability is quietly improving bit by bit. 
• Which brings us to home sellers.  If you’ve been waiting for the right moment, our research points to April 12 through 18 as this year’s best time to sell. Why? Motivated buyers, fewer new listings to compete with, and historically strong outcomes. But that Goldilocks window varies by metro, so check out the full report to see when your market peaks.
• So what’s the bottom line this spring? Fundamentals for buyers are the best they have been in years. Lower rates, more inventory, softer prices. But the macro backdrop – economic uncertainty, inflation rising, the Fed at a crossroads – is complicating the picture. For buyers on the sidelines, this spring may be the best entry point in years. Just don’t wait for the fog to clear —  because it might not.

That’s it for this week. You can find all our latest data and full analysis at Realtor.com/research. You can also follow us on X (formerly twitter) for real-time updates and instagram for graphics.

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