A seasonally adjusted annual rate is a way of taking a short-term economic or financial measure (like a monthly or quarterly figure), removing predictable seasonal ups and downs (such as holiday shopping or harvest cycles), and converting the result into a full-year pace. For investors it makes it easier to compare periods and judge underlying trends—like estimating a steady yearly income from a single month after stripping out routine seasonal spikes—so performance and forecasts are less distorted by predictable timing effects.
seasonally adjustedtechnical
Seasonally adjusted means that figures have been modified to remove the effects of regular and predictable changes that happen at specific times of the year, such as holidays or weather patterns. This adjustment helps reveal the true underlying trend by making comparisons across different periods more accurate. For investors, it provides a clearer picture of whether economic activity is genuinely improving or declining, without the noise of seasonal fluctuations.
months of supplytechnical
Months of supply measures how long it would take to sell all available homes at the current sales rate. It is calculated by dividing the total number of homes for sale by the number of homes sold each month. A lower number suggests a faster market with high demand, while a higher number indicates a slower market with more choices for buyers.
sale-to-final-list-price ratiotechnical
The sale-to-final-list-price ratio compares the actual price a buyer paid to the seller’s final asking price, after any discounts or price cuts. Think of it as the percentage of the last listed price that was realized at closing — like seeing whether a seller got close to their last expected amount. For investors, it signals pricing strength and demand: higher ratios suggest sellers are achieving their targets, while lower ratios imply the market requires deeper markdowns to complete sales.
pending home salestechnical
Pending home sales refer to homes that have been sold but where the transaction has not yet been finalized or closed. This measure indicates future activity in the housing market, helping investors gauge whether home buying is increasing or slowing down. Rising pending sales can suggest stronger demand, while falling figures may signal a slowdown in the market.
30-year fixed mortgage ratefinancial
The 30-year fixed mortgage rate is the interest rate charged on a home loan that is paid back over 30 years with consistent monthly payments. Because the rate stays the same throughout the loan period, it provides stability and predictability for homeowners. This rate influences borrowing costs and can impact the overall housing market and consumer spending.
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San Francisco reclaimed its title as the most expensive major metro to buy a home in March
Nationally, the housing market remained sluggish as high costs and economic uncertainty gave buyers and sellers pause
SEATTLE--(BUSINESS WIRE)--
The median home sale price in the San Francisco metropolitan area jumped 14.4% year over year in March to a record $1.7 million, according to a new report from Redfin, the real estate brokerage powered by Rocket.
That’s the largest increase since March 2018 and the biggest gain among the 50 most populous metro areas. San Francisco has now reclaimed its title as the major U.S. metro with the highest home prices, eclipsing neighboring San Jose, which held that title for much of 2024 and 2025.
Condo prices in San Francisco rose particularly quickly, posting a 24.4% year-over-year increase last month—the largest since 2013.
San Francisco’s housing market has been heating up as a boom in the artificial intelligence industry and a return to the office have coincided with a lack of inventory.
“A lot of 22-year-olds are getting $500,000 signing bonuses from AI companies, and they’re excited to buy homes,” said local Redfin Premier real estate agent Ali Mafi. “Inventory isn’t keeping up—sellers have been hearing that if they wait to sell, they’ll get a better deal. But suddenly, the time to sell is now. We’re seeing quality homes in desirable areas get 20 offers and go for as much as $900,000 over the asking price.”
Mafi said sellers should still make sure their homes are in tip-top shape before going to market (cleaning, staging, painting, etc.). Oftentimes, a $20,000 investment there can turn into $100,000 because it helps the home sell for a higher price—especially when demand is so strong, he noted.
The typical San Francisco home that sold in March went for 8.9% more than its final list price—the largest March premium since 2022. By comparison, the typical U.S. home sold for 1.3% below its final list price—the biggest March discount since 2020.
Nationally, the Housing Market Remains Sluggish
The median U.S. home sale price rose 1.2% year over year in March to $436,733. That’s the fastest growth in five months but remains low by historical standards.
Active listings of U.S. homes for sale fell 0.6% month over month on a seasonally adjusted basis—the largest decline since June 2023. Some sellers have been retreating due to lackluster demand for their homes; pending home sales were little changed from a month earlier (0.1%) on a seasonally adjusted basis in March and fell 2.6% from a year earlier. High home prices, rising mortgage rates and economic uncertainty have caused many house hunters to stay on the sidelines.
It’s worth noting that while both buyers and sellers have been retreating, buyers have retreated faster, which means they are far outnumbered by sellers. That imbalance is why buyers have negotiating power. Yes, home price growth is inching up, but buyers are also scoring the largest discounts in years as sellers watch their homes linger on the market. The typical home that went under contract in March did so in 55 days. That’s the slowest March pace in a decade and is up from 49 days a year earlier.
March 2026 Housing Market Highlights: United States
Redfin is a technology-driven real estate company with the country's most-visited real estate brokerage website. As part of Rocket Companies (NYSE: RKT), Redfin is creating an integrated homeownership platform from search to close to make the dream of homeownership more affordable and accessible for everyone. Redfin’s clients can see homes first with on-demand tours, easily apply for a home loan with Rocket Mortgage, and save thousands in fees while working with a top local agent.
