March 2026 Real Estate News
The Fed left rates unchanged and noted the growing challenges of a lackluster job market combined with the inflationary effects of the current conflict in Iran.
Mortgage rates are solidly above 6%, complicating the spring selling season as the “lock in effect” (for those sellers with a very low mortgage rate) is a huge contributing factor as to why there is a lack of inventory. While increasing, inventory is still lackluster.
According to new data released by the National Association of Realtors®, existing-home sales ticked up 1.7% nationwide in February. Compared to the same month in 2025, however, the number was either essentially flat or lower in each region. Here locally, year-over-year existing-home sales dipped 1.3% while the median price also inched lower, dropping 1.9%. Median days on market increased by 5 days from one year ago. By category, sales of condominiums lagged 5.3% while single-family homes were stronger, up 2.5% from January.
The Senate's passage of a new bipartisan housing bill to address the nation's housing shortage, is dubbed the 21st Century ROAD to Housing Act. The bill would bar any institutional investor, defined as an entity that owns 350 homes or more, from purchasing existing single-family homes. Oftentimes, these investment firms can outbid regular homebuyers. The provision also requires these large firms to sell build-to-rent housing to individuals within seven years. Now it’s over to the House of Representatives for a vote.
Local stats below. Still a mix with different areas showing vastly different market data.
