In late February, mortgage rates had dipped just below 6%, listings were rising, and affordability was beginning to improve. Then, the war in Iran introduced a new round of uncertainty and volatility.
In March, seasonally-adjusted sales of existing homes were down 3.6%, according to the National Association of Realtors.
Home sales climbed by 2% in July, according to the National Association of Realtors, but prices remain high.
Analysts say last month’s slowdown is just the beginning.
It's a supply problem.
!["The [housing] market already didn't look particularly good going into Iran," said Zonda's Ali Wolf.](https://img.apmcdn.org/a36b7e3a219d993c3928bf2d2ea371c148d363ff/widescreen/a6dc0a-20260414-brick-homes-for-sale-in-chicago-webp2000.webp)
