US Residential Real Estate Market Report - March 2026

Tech Hubs Are Driving Price Growth

In major West Coast metro areas, home prices jumped over 14% year over year in March, marking the fastest growth the nation has seen and pushing median prices to around $1.7 million.

Condo prices in that same market rose even more sharply, increasing over 24% compared to last year—the largest gain in more than a decade.

This surge is being driven by a combination of factors:

• Rapid expansion in the artificial intelligence and tech sectors

• An influx of high-income buyers entering the market

• A continued shortage of available homes

• More employees returning to in-person work

Together, these trends are creating intense competition, especially for well-presented homes in desirable neighborhoods. In some cases, properties are receiving multiple offers and selling significantly above asking price.

Low Inventory Is Fueling Competition

Housing supply remains tight in high-demand areas, with less than two months of inventory available in some markets. For context, a balanced market typically has closer to five or six months of supply.

This limited inventory is pushing prices higher and creating urgency among buyers who are ready and able to compete.

For sellers, this creates a strong opportunity—but preparation still matters. Homes that are clean, staged, and move-in ready tend to attract more attention and stronger offers.

National Market Remains More Cautious

While select metros are heating up, the broader U.S. housing market is moving at a slower pace:

• The median home price nationally rose just 1.2% year over year

• Active listings declined slightly month over month

• Pending sales remained mostly flat

• Homes are taking longer to sell, averaging 55 days on market, the slowest pace for March in years

Economic uncertainty, fluctuating mortgage rates, and affordability challenges are keeping many buyers on the sidelines.

Buyers Still Have Leverage in Many Areas

Interestingly, even as prices inch upward nationally, buyers in many markets continue to have negotiating power.

That's because:

• Buyer demand has slowed more than seller activity

• Homes are sitting longer on the market

• Discounts off asking price are becoming more common

This creates a mixed environment where strategy matters more than ever.

What This Means Moving Forward

The housing market is becoming increasingly localized:

• High-demand, supply-constrained metros are seeing strong price growth and competition

• Most other areas are experiencing a slower, more balanced market

For buyers, this means opportunities still exist—especially outside of the hottest markets.

For sellers, success depends on understanding local demand, pricing strategically, and presenting the home in its best possible condition.

Key Takeaway

The 2026 housing market isn't moving in one direction—it's splitting into two distinct experiences.

In some markets, competition is fierce and prices are rising fast. In others, buyers have more time, more options, and more negotiating power.

Understanding which market you're in is the key to making smart, confident decisions.

March 2026 Housing Market Highlights: United States

Metro-Level Highlights (Year Over Year)

Based on the 50 most populous U.S. metropolitan areas: