March numbers are in, and the market is telling a clear story.
According to the National Association of Realtors, existing-home sales dropped 3.6% month-over-month, marking the slowest pace since 2009.
NAR Chief Economist Lawrence Yun pointed to two key drivers:
• Lower consumer confidence
• Softer job growth
📊 Here’s what stands out:
• Sales declined in all four regions month-over-month
• Year-over-year: gains in the South and West, declines in the Northeast and Midwest
• Median home price: $408,800
💡 What this means (no fluff):
This is not a crash. It is a slower, more selective market.
Buyers are hesitating, but they have not disappeared.
Sellers are still getting paid, especially in markets with limited inventory.
There is no single “national market” right now. Conditions vary by city, price point, and even neighborhood.
📍 For Buyers
Less competition than peak frenzy years
More room to negotiate
Still need a strategy due to rates and affordability
📍 For Sellers
Pricing strategy matters more than ever
Overpricing = sitting
Data-driven positioning = selling
📊 If you want to understand what this looks like in Phoenix or your specific zip code, I break this down using MLS data, not headlines.
🔗 Full report: https://www.nar.realtor/newsroom/nar-existing-home-sales-report-shows-3-6-decrease-in-march
📧 robert@livinginphoenix.net
📞 480-415-0783
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