Despite the deceleration, the company, formerly known as CoreLogic, expects prices to rise another 4.9% over the next year.

Home sales slid 5.4% year over year to 5,011 transactions, while the median sales price inched up 1.2% to $410,000. 

The National Association of REALTORS’® Pending Home Sales Index rose 6.9% in March, compared to economists’ expectations of a smaller 1% gain.

The pace of sales rose 7.4% compared to February, topping analyst estimates by a large margin.

The surprisingly large decline in the pace of housing starts comes as builder sentiment remains depressed by tariff worries and high prices. 

Home sales ramped up in March after a muted February. 

“Each interaction indicates buyer interest in that home, and listings with higher engagement levels tend to sell faster and at or above the list price,” Zillow Senior Economist Kara Ng explained.

Atlanta housing inventory posted healthy gains, while existing-home sales, housing starts and days on market declined.

Meanwhile, purchase applications showed their strongest increase in almost two months, rising 7% year over year.

The National Association of REALTORS’® Pending Home Sales Index rose 2% month over month in February, topping an expected 0.9% gain. 

Nationally, home sales were down 2.6% year over year and up 8.4% month over month, RE/MAX said. 

The median existing-home price was also on the upswing last month, providing homeowners a bit of refuge as the stock market undergoes a correction, Chief Economist Lawrence Yun said in the monthly report. 

The pace of new-home construction was higher than economists expected, even as homebuilders expressed concern about the impact of tariffs and supply-side challenges. 

The overall trend points to a longer-term slowdown, however, the MLS said. 

Falling consumer sentiment suggests potential homebuyers are wary of the short-term economic outlook and future inflation, CoreLogic Chief Economist Selma Hepp said. 

At the same time, the median sales price for a new home hit its highest level since 2022, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.