Median existing-home prices hit a record $408,800 in March, rising 1.4% year over year, while inflation remains above 3%, straining budgets. Mortgage rates stay high at 6.32%, limiting affordability. Existing-home sales dropped 3.6% to the lowest since mid-2025. Inventory rose 8.1% but is still 13.8% below pre-pandemic levels, keeping prices elevated. Regional price trends vary, with the Northeast seeing gains and the West experiencing declines.