The increase in US house prices in March 2026 was 0.1% compared to February, which is the third month in a row with such an increase. In annual terms, prices rose only by 1.7%, which was the weakest pace since 2012, according to a report by the brokerage company Redfin.
Price growth has been losing momentum since the beginning of 2025, and according to Chen Zhao, head of economic research at Redfin, this is in line with expectations. The main reason is high mortgage rates and global uncertainty, which force potential buyers to retreat, thereby restraining prices.
Mortgage rates rose from 6% to 6.4% in March, mainly due to the war with Iran, which caused oil prices to rise and destabilized markets. Many customers decided to delay their purchase.
However, prices are still going up as the number of new listings is decreasing.There are still hundreds of thousands more sellers than buyers on the market, but now some homeowners prefer not to put their homes on the sluggish market.
In 13 large metropolitan areas of the United States, housing prices decreased in March compared with February (seasonally adjusted). The most significant declines were recorded in Fort Worth (Texas, -0.8%) and Austin (Texas, -0.7%). This is followed by Nashville (-0.6%), Oakland (-0.6%) and Phoenix (-0.3%).The largest increases in March were shown by Pittsburgh (+2.8%), West Palm Beach (Florida, +2.1%), Nassau County (New York, +1.4%), Chicago (+1.3%) and San Francisco (+1.2%).
Year-on-year, prices fell the most in San Antonio (-4.1%), Jacksonville (-3.5%) and Austin (-3%), while prices rose in San Francisco (+13%), Chicago (+10.7%) and New York (+9.2%).
Chen Zhao called the current situation "the beginning of a market reboot" that could eventually reduce housing costs enough to bring buyers back. This is a disappointment for sellers, but for the market as a whole it is a possible step towards balance.Source: The Mortgage Point
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