Home sales just fell 3.6%—and the spring buying season may not save them

The picture of an American springtime usually looks something like this: sunny days, chittering birds, and, on many suburban streets, a congested driveway full of eager prospective homebuyers gathering for an open house.

Spring is usually when the U.S. housing market heats up, as potential buyers start shopping ahead of desired summer move-ins. But the 2026 housing market has gotten off to a rough start, as affordability concerns continue to weigh down activity and disrupt the industry’s seasonal rhythm.