“Seasonally adjusted purchase application volume also declined over the week, but only by 3%. The headwinds of higher rates are being offset somewhat by the buyer’s market in many parts of the country.”
Listings improved but uncertainty lingered
On the supply side, early spring data pointed to more options for house‑hunters.
“New listings jumped more than 20% from February to March, above the historical seasonal norm, and that’s an encouraging sign of seller confidence,” said Jake Krimmel, senior economist at Realtor.com.
“March typically sets the table for the spring season, and last year we saw that momentum collapse almost immediately when economic uncertainty hit.”
Geopolitical tensions and rate expectations remain key drivers in the backdrop. The Iran conflict pushed oil prices and bond yields higher in recent weeks, helping to lift the 30‑year rate from just under 6% in late winter to current levels.