March 2026 Housing Market Update: What Buyers and Sellers Need to Know
Spring arrived and the housing market showed up with it. March 2026 delivered the strongest month-over-month jump in home sales in three years. It’s a signal that buyers and sellers who had been waiting on the sidelines in previous months decided to move in March. Here’s what the latest REMAX National Housing Report means for anyone navigating the market right now.
Home Sales Surged
The biggest headline from March is hard to miss. Home sales jumped 31.6% from February across the 50 metro areas surveyed. It was the largest monthly increase since March 2023. Compared to a year ago, sales were up 3.4%. A modest, but meaningful year-over-year gain.
From the report, Minneapolis was a standout. Closed home sales rose 46.7% from February. Justin Fox, Broker/Owner of REMAX Professionals in Cottage Grove, Minnesota, offered some helpful context. “We saw a dramatic month-over-month increase in closed sales… I see pent-up demand in the median-price-ranged market with robust showing activity and multiple offers.”
The markets that lead year-over-year sales growth included Bozeman, MT (+38.7%), New Orleans, LA (+21.8%), and Omaha, NE (+19.6%). The markets with the steepest year-over-year declines were Hartford, CT )-9.5%), Pittsburgh, PA (-7.3%), and Providence, RI (-7.0%).
More Listings Hit the Market
Fresh inventory gave buyers more options heading into spring. New listings rose 29.0% compared to February, though they remained 4.0% below March 2025 levels. Overall, active inventory was up 4.4% year over year and 4.5% month over month. A continued bright spot for buyers who may have been frustrated by limited supply.
Prices Rose Slightly
The median sales price in March 2026 came in at $440,000. That’s up $10,000 (2.3%) from February and $5,000 (1.1%) above March 2025. Price growth was measured rather than aggressive, which REMAX President and Chief Growth Officer Chris Lim described as a market, “shifting toward balance..”
Des Moines, IA (+8.2%), Pittsburgh, PA (+7.8%), and Kansas City, MO (+7.7%) led all markets in year-over-year price growth. On the other end, Bozeman, MT (-9.3%), Burlington, VT (-5.2%), and Manchester, NH (-2.3%) saw prices pull back from a year ago.
Homes Sold Faster Than February, But Slower Than Last Year
Average days on market dropped to 49 in March, down seven days from February’s 56. That’s an encouraging trend heading into peak season, though homes still took five more days to sell than they did in March 2025.
Omaha, NE had the biggest year-over-year improvement, with homes selling in an average of 32 days, down 26.9% from a year ago. On the other side, Manchester, NH (+28.3%), St. Louis, MO (+27.2%), and Tampa, FL (+24.8%) saw days on market climb compared to March 2025.
Buyers Paid Close to Asking
The average close-to-list price ratio ticked up to 99% in March, one percentage point above February and in line with March 2025. In competitive markets, that number climbed significantly higher. San Francisco, CA led all markets at 107.2%, meaning homes there regularly sold above asking.
Hartford, CT (102.7%) and a tie between Richmond, VA and Manchester, NH (100.8%) were also above list. Buyers in Miami, FL (93.1%), Houston, TX (96.8%), and Honolulu, HI (96.9%) had more room to negotiate.
Supply Tightened
Months’ supply of inventory came in at 2.3 in March, down from 2.8 in February, a sign that the surge in buyer activity absorbed some of the available inventory heading into spring. That’s slightly above the 2.0 months recorded in March 2025. Miami, FL (5.3 months), Honolulu, HI (4.9 months), and New Orleans, LA (4.6 months) offered the most options for buyers.
Manchester, NH (0.9 months), Hartford, CT and Albuquerque, NM (tied at 1.0 month), and Anchorage, AK and Richmond, VA (tied at 1.1 months) remained the most competitive markets in the country.
What Does This Mean for You?
As REMAX’s Chris Lim put it, the next phase of the housing market will be defined “less by speed and more by precision.” That’s good guidance for both sides of the transaction. If you’re buying: The spring surge is underway, and inventory, while growing, can move quickly in many markets. Getting pre-approved and working with a knowledgeable local agent will help you act with confidence when the right home comes along.
If you’re selling: Modest price growth and rising buyer activity are working in your favor. Pricing your home correctly from the start is still essential. Well-priced listings are getting strong attention, while overpriced ones risk sitting as the peak season window narrows.
