Inman market view: Where sellers made an offer in March despite higher rates

The first month of the US war in Iran has brought consumers higher prices at the pump and higher mortgage payments.

But home sellers don’t get cold feet.

An Inman Market View study of new data from Realtor.com shows how new listings have gained momentum in some of the country’s most prominent tech hubs and posted solid numbers in hundreds of other markets to kick off spring.

But what’s happening in the technologically hard-hit metros could be a sign of caution for the rest of the country: This flood of new supply isn’t guaranteed to result in a boost in sales.

Find out how early spring is unfolding in a U.S. housing market that remains fragmented in price, inventory and geography with these interactive maps and charts.

Click on one of the 500 local markets in the tool above, or look for an option in the drop-down menu for an even more detailed look at the data. Select different metrics and time period comparisons for a more complete picture.

Technology and housing

Fears that last month’s higher mortgage rates could result in sellers immediately losing interest can be put to rest with these new figures.

• There were new listings nationwide in the first quarter of 2026 14 percent below pre-pandemic levels for that time of year, one 1 point improvement of the previous quarter.
• The number of newly listed properties was also 1 percent higher than a year earlier.

You can compare your market’s path to that of the country by selecting it from the drop-down menu above. You can also select other metro areas and switch between different statistics and comparison views.

Although still early, these figures suggest that there has been no immediate drop in prices following the US military action in Iran. And the growth we’re seeing in many places is even greater than what used to be considered normal for a pre-pandemic spring.

This was especially evident in urban areas with high concentrations of technology workers, such as Silicon Valley, Seattle, Austin and Denver.

The greater San Jose area, home to many of the world’s largest tech companies, has seen one of the most dramatic shifts in recent months.

• The number of homes that came on the market in the past three months in the Silicon Valley area was 10 percent higher than pre-pandemic levels for that time of year.
• That’s a big increase from the last three months of 2025, when new listings were added in this metro area. 22 percent below which was normal for that time of year from 2017 to 2019.

To the extent that this wave of new listings is driven by these places’ connections to the tech industry, it may be more about home sellers losing their jobs and being forced to advertise than a sign of intent to buy.

Here is a longer-term graph of US employment growth in the technology sector. The only thing that compares to the scale and duration of current job losses is the dot-com bust

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—Joey Politano🏳️‍🌈 (@josephpolitano.bsky.social) March 6, 2026 at 7:47 am

And Silicon Valley is far from the only tech center where the housing market has been transformed in recent years.

The developing city center

The fate of downtown housing markets has been the subject of much debate in recent years, and Seattle stands out for its particularly grim picture.

Now, six years after the pandemic first upended these markets, the areas closest to Seattle’s employment center are seeing new listings come online faster than before.

But if you’re a few miles outside of downtown, the volume of new listings is low, as it remains in much of the country.

In Seattle, this may have to do with a combination of return-to-office initiatives from large employers, but it may also be helped by the fact that home prices in downtown Seattle have not risen nearly as much in recent years as in nearby cities and suburbs.

The path each market has taken through this period has been unique. Connect yours to the tool above to see how things have changed near you.

Email Daniel Houston