Pending home sales have declined entering the spring 2026 homebuying season, as many sellers delay listing their homes and the traditional season starts later than usual. Mortgage rates remain approximately double their pandemic-era lows.

Housing inventory increased 1.7% month-over-month and 4.9% year-over-year in February 2026, according to the National Association of Realtors. Mortgage rates have slowly decreased over the past year but increased in recent weeks.

"Spring has been and can still be a great time to purchase a new home," said Pahm Foxley, Vice President of Mortgage Lending at Wasatch Peaks Credit Union. "Mortgage rates are continuing to come down, and borrowers feel better about starting a long-term mortgage with a more affordable payment."

Jeff Lichtenstein, CEO and Broker at Echo Fine Properties, recommended timing purchases around the school calendar. "Parents can see the end of the school year where the kiddos are out," he said. "Look and make offers in the spring and then close and move 30 to 60 days later in the summer when it's easier to pack and concentrate on getting in and settled before school starts."

However, economic uncertainty could affect housing costs. "That could change with inflation from not only tariffs but the war and gas prices," he said. Ongoing conflict in the Middle East, concerns about inflation, and changes in tariff policies could keep housing market costs elevated this spring.

Real estate professionals offered mixed advice about timing purchases. "If you are in an at-risk job, then consider holding off," Lichtenstein said. April Myers, Real Estate Agent at @properties, cautioned about rate considerations: "Rates are volatile right now, so if you're married to your low interest rate, your will to move and your goal to move have to be greater than holding on to an interest rate we most likely won't see again for a long time."

Foxley advised buyers to shop around for financing. "Buyers should compare four to five different lenders for the best terms, rates and closing costs," she said.

The median home-sale price has risen substantially. Historically, spring has been characterized by more home listings, increased competition, and a heightened sense of urgency among home buyers.