Overview
- In March 2026, Zillow tracked a surge in activity as pending listings jumped 29.8% month over month, new listings rose 35.6%, and total homes for sale reached 1.23 million.
- Early‑April readings show new listings down 10% year over year, active inventory up 3.9%, and asking prices 2.1% lower, according to Realtor.com.
- Mortgage rates hovered in the mid‑6% range with a recent 6.45% reading, which cooled purchase applications and left weekly pending sales slightly below last year.
- Regional performance is splitting, with the Northeast and Midwest moving faster and holding pricing power as absorption rates there outpace national levels.
- Sun Belt sellers face the sharpest pressure, with Florida showing a 43.6% price‑cut rate and a 34.1% withdrawal rate, and Arizona metros near half of listings taking cuts.