Spring traditionally brings new optimism to the housing market and Spring 2026 started off promising: mortgage rates dropped below 6% for the first time since 2022 and new listings were up considerably despite the rough winter weather in most of the country. And then the entire economic universe went haywire with the the war in Iran.
So where are we? Mortgage rates have risen but listing prices fell in 34 of the top 50 metro areas in March. The key going forward will be new listings. If sellers remain hesitate, as they were in the summer of 2025, then this year will look much like last year.