Title Abstract and Settlement Offices NAICS 541191

Mar 24, 2026 - Homes Staying on the Market Longer

• A growing number of homeowners are struggling to sell properties as high prices and elevated mortgage rates continue to dampen buyer demand, according to MarketWatch. The National Association of Realtors (NAR) reports that 2025 existing home sales fell to a 31-year low. In March, Google searches for “Can’t sell house” reached record highs, surpassing levels seen during the pandemic and the 2008 financial crisis. Homes are taking longer to sell, sitting an average of 8 days longer than a year ago, with well-priced homes going under contract in about 47 days and others lingering for up to 88 days, according to Redfin. Inventory is rising as new listings increased 4% in 2025, while buyers have not returned at the same pace, creating a 44% gap between sellers and buyers.
• Sales of existing US homes increased by 1.7% in February 2026 from January but were down 1.4% year-over-year, according to the National Association of Realtors (NAR). NAR chief economist Lawrence Yun said, "Housing affordability is improving, and consumers are responding. Still, there is a long way to go to return to pre-pandemic levels of transaction activity. There are more than 6 million more jobs than in 2019, yet home sales per year are down by one million. Despite the modest gain in home sales, actual housing demand remains muted relative to wage growth and job gains. Wage growth is now outpacing home price growth by almost four percentage points. Mortgage rates are also measurably lower compared to a year ago." Existing-home sales are an important demand driver for title abstract and settlement services.

• Home builder confidence in the single-family market rose slightly in March, but builders remain concerned about housing affordability, higher construction costs, and shortages of buildable lots and labor, according to the National Association of Home Builders (NAHB). Home builder sentiment, as measured by the NAHB/Wells Fargo Housing Market Index (HMI), rose one point to 38 in March 2026. Any HMI reading over 50 indicates that more builders see conditions as good than poor. The HMI survey also showed that 37% of builders reduced home prices in March to lure potential buyers off the sidelines, although the average price reduction of 6% remained unchanged from February. While the war in Iran and resulting higher oil prices could pose additional challenges, recent executive orders by President Trump aimed at reducing regulatory hurdles to homebuilding are seen as a positive step.
• Millions of homeowners remain locked into mortgage rates at or below 4%, a dynamic that continues to freeze the housing market even as current rates fall, according to The Wall Street Journal. The lock in effect has kept inventory depressed for three years, since many owners refuse to give up ultralow loans secured during 2020 and 2021. Near record home prices, rising insurance costs, and higher property taxes are adding to affordability pressures, and economists do not expect mortgage rates to fall enough to motivate most owners to move. While lower rates and softening prices have boosted activity in parts of the South and West, overall existing home sales remain near 30-year lows. Analysts say it may take years for incomes to catch up, leaving only those who must relocate willing to sell while discretionary movers continue to stay put.