As winter fades and spring begins, the real estate market typically sees a predictable seasonal uptick in activity.
March marks a major turning point, with existing-home sales jumping an average of 33.5% from February — the largest month-to-month increase of the year. Warmer weather, longer daylight hours, and families planning moves around the school calendar all contribute to increased buyer demand. Some buyers also try to purchase before summer competition drives up prices and moving costs.
Inventory, however, only rises slightly in March, often creating a short-term supply shortage just as buyer interest spikes. While sellers may benefit from more offers and stronger pricing after winter, some hold off until summer when prices traditionally peak. Additionally, listing in March can mean moving before the school year ends, which may be challenging for families.
The month of March serves as the launch point for the busy spring and summer real estate season, shaped by consistent seasonal trends in buyer and seller behavior.
In March, rising demand and limited supply typically push home prices up about 2.9%, marking the start of a tighter spring market. Even with this increase, prices remain lower than peak summer levels, with only January and February averaging less.
Homes also sell faster in March, spending about 9 fewer days on the market compared to February — the largest monthly drop of the year — as increased buyer competition leads to quicker offers.
First-time buyers make up 31% of purchases in March, beginning to re-enter the market as weather improves and prices remain relatively affordable. Meanwhile, cash buyers decline sharply from February, as investors tend to buy earlier in the year when prices are lowest.
Overall, March represents a clear market shift: more buyers, limited inventory, rising prices, and faster sales as the spring season gains momentum.
Read the full article from the National Association of Realtors® HERE