Existing-Home Sales Report In March
March 2026 NAR Existing-Home Sales Report: What It Means for Miami and South Florida Real Estate
The National Association of Realtors® (NAR) released its March 2026 Existing-Home Sales Report today, showing a 3.6% month-over-month decline in national sales to a seasonally adjusted annual rate of 3.98 million. Year-over-year sales fell 1.0%. However, the picture looks brighter in the South, which includes Florida.
Sales in the South dipped 3.1% from February but rose 2.2% year-over-year, outperforming other regions. This resilience highlights South Florida’s continued appeal amid a national slowdown driven by softer consumer confidence, job growth concerns, and rising mortgage rates.
Key National Highlights from March 2026
- Total Existing-Home Sales: 3.98 million (down 3.6% MoM, down 1.0% YoY)
- Median Home Price: $408,800 — a new record high for March, up 1.4% from $403,100 in March 2025 (33rd consecutive month of year-over-year gains)
- Inventory: 1.36 million units (up 3.0% from February, up 2.3% YoY) — still only a 4.1-month supply, well below historical norms
- Housing Affordability Index: Fell slightly to 113.7 but improved year-over-year across all regions, with the South seeing a strong +10.0% gain
- Median Days on Market: 41 days (down from 47 in February but up from 36 last year)
- Mortgage Rates: Average 30-year fixed at 6.18% in March (currently hovering near 6.3–6.4% in mid-April)
NAR Chief Economist Dr. Lawrence Yun noted that limited inventory remains the biggest constraint: “An additional 300,000 to 500,000 homes for sale would help normalize the market.” Low supply continues to support steady price growth, helping homeowners build significant equity — an average of $128,100 over the past six years.
South Florida and Miami Market Snapshot
The South region showed the strongest year-over-year sales growth (+2.2%), with a median price of $362,600 (up 0.8% YoY). While national sales cooled, South Florida’s luxury and investment segments continue to attract international buyers, driven by lifestyle, business relocation, and events like those boosted by Inter Miami CF.
Inventory constraints are especially pronounced in desirable Miami neighborhoods, where well-priced, move-in-ready homes often receive multiple offers. Condo and single-family segments reflect similar trends: limited supply supports price stability even as mortgage rates remain elevated.
NAR’s Revised 2026 Housing Forecast
- Existing-home sales now projected to rise 4% in 2026 (down from previous estimate)
- New-home sales expected to remain flat (revised from +5%)
- Median home prices still forecast to increase 4%
Even with a more modest pace of sales, limited inventory should continue supporting price appreciation throughout the year.
Opportunities for Buyers, Sellers, Developers, and Investors in Miami
- For Buyers: Improved year-over-year affordability in the South (+10%) creates a window for qualified buyers. Work with a tech-savvy agent to access off-market listings and negotiate effectively in a low-inventory environment.
- For Sellers: Record-high prices and steady demand mean strong equity positions. Strategic pricing and professional marketing can lead to faster closings and premium offers.
- For Developers & Investors: Cash sales remain solid at 27%, and investor/second-home activity rose to 18%. Miami’s global appeal, combined with limited new supply in prime areas, supports long-term appreciation and rental yields.
- For Everyone: Expect continued competition for well-maintained properties. Early preparation and data-driven strategies make the difference.
Partner with Experience and Innovation in South Florida Real Estate
In a market shaped by low inventory and steady price growth, having the right partner is essential. Laura Graves, a top-producing agent with over $735 million in career sales and 26+ years of experience in the Miami market, now operates with the full power of Avanti Way Realty — one of Florida’s largest and most innovative tech-driven brokerages.
Avanti Way equips Laura with advanced analytics, AI-powered marketing, seamless transaction tools, and an integrated ecosystem that delivers faster, smarter results for clients.
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Visit: https://lauragravesrealestate.
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