"March home sales remained sluggish and below last year's pace, attributed to shrinking consumer confidence and a lower job creation rate."
"Higher unemployment and persistently high mortgage rates were likely to act as a slight drag on the spring season."
The U.S. housing market typically heats up in spring, but 2026 has seen a decline in home sales. Existing home sales fell 3.6% in March compared to February and were down 1% from the previous year. High mortgage rates, averaging between 6% and 6.5%, are a significant barrier for buyers. Economic factors, including low job creation and inflation concerns, have contributed to decreased consumer confidence, impacting homebuying decisions during the traditional spring season.
Read at Fortune
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