Home sales surged in March as the spring buying season began to take shape, with activity rising sharply alongside a seasonal increase in listings, according to the latest National Housing Report from RE/MAX.
Across the 50 metro areas tracked in the report, closed transactions jumped 31.6% from February and rose 3.4% year over year, reflecting a typical seasonal rebound after a slower winter period. The monthly increase marks one of the strongest sequential gains so far this year, signaling that buyers are reentering the market as conditions improve.
New listings followed a similar seasonal pattern, climbing 29% from February as more sellers put homes on the market. However, listings were down 4% from March 2025, indicating that while supply is improving in the short term, it remains constrained year over year.
The number of homes for sale — a key metric for mortgage professionals tracking pipeline opportunity — was also lower than a year ago, reinforcing the ongoing supply-demand imbalance that has defined much of the current housing cycle.
Median home prices continued to rise, reaching approximately $440,000 in March, up both month over month and year over year. The increase underscores continued pricing pressure, even as inventory levels show modest improvement.
Homes also sold at a slightly slower pace than in recent years, suggesting a gradual shift toward a more balanced market. For originators, that shift could translate into more time for borrowers to shop for financing options and lock in rates, particularly as purchase activity accelerates.
The March data reflects a market settling into a more traditional seasonal rhythm, with both buyers and sellers reengaging after winter. Still, the year-over-year decline in listings points to persistent structural supply issues that continue to limit overall transaction volume.
For mortgage professionals, the report signals a cautiously improving purchase market. Rising sales activity and a seasonal lift in listings may help drive application volume in the coming months, but constrained inventory and ongoing affordability challenges remain key variables to watch as the spring season unfolds.
