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Home sales reached 300,398 in March. That's up 3.7% from a year ago and 25.2% from February - the strongest March in five years. Higher mortgage rates didn't slow this momentum.
Mortgage rates climbed from 5.98% at the end of February to 6.38% by late March. Higher rates typically reduce demand. They didn't this time.
Newly pending listings rose 4.6% year-over-year. Zillow page views per listing were 32% higher than March 2025. Buyers aren't just browsing - they're making offers.
For three years, the market was nearly frozen. Now there's pent-up demand from years of waiting. The typical U.S. home sells for $365,545. Active inventory is 4.2% higher than a year ago, giving buyers more choices.
Watch whether this momentum holds into April and May, or whether rate increases finally slow spring sales.
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