Weekly Market Brief: March 13, 2026
The spring market is waking up, but it is not charging out of bed like it just drank a pot of coffee. Nationally, buyers are seeing better selection, softer pricing, and a little more breathing room. In Central Ohio, though, the story is different: inventory has improved, but this is still very much a seller-leaning market, especially in desirable price points and strong suburban pockets.
National housing market update
The latest national data points to a more buyer-friendly market than we have seen in a while. Realtor.com reports active inventory is up 6.2% year over year, new listings are up 1.5% from a year ago, and homes are taking longer to sell, with the median listing spending 58 days on market, four days longer than last year. Median listing prices are down 2.4% year over year, and price per square foot is down 2.5%, which suggests this is not just a shift toward smaller homes hitting the market, but real price softening.
At the same time, the resale market showed a little life in February. Existing-home sales rose 1.7% month over month to a seasonally adjusted annual rate of 4.09 million. Inventory rose to 1.29 million units, or a 3.8-month supply, while the national median existing-home price was $398,000, up just 0.3% from a year ago. In plain English: buyers are finally getting more choices, affordability has improved some, and that helped pull a few more people off the fence.
Central Ohio market update
The latest available local numbers are the February 2026 figures released by Columbus REALTORS® on March 10, and they show a market that is steady, competitive, and still tilted toward sellers. Central Ohio recorded 1,747 closed sales in February, exactly matching the pace from a year earlier. Year to date, there have been 3,262 closings, just two fewer than the same point in 2025. Inventory rose 7.6% year over year to 3,999 homes, but supply still sits at just 1.6 months, which is well below a balanced market. The median sales price climbed 3.3% to $315,000, while median days on market rose 14% to 49 days.
New listings in Central Ohio actually declined 1.8% in February, with 2,197 homes added to the market. That matters because it tells us inventory growth is improving, but not because sellers are flooding the market. More likely, the region is benefiting from a gradual release of supply while buyers remain active enough to keep conditions competitive. That is why prices are still rising locally even while national asking prices are softening.
County-level results were mixed. Franklin County closings fell 4.6% year over year to 888, while Delaware County rose 13% to 165 closings and Fairfield County jumped 20.2% to 131 closings. Pickerington also stood out, with sales in the Pickerington Local School District up 36.4% from a year ago. The likely explanation is a combination of continued demand in suburban and outer-ring locations, slightly better affordability than some closer-in areas, and buyers responding to lower mortgage rates earlier in February before rates turned back up this week. That is an inference, but it lines up with both the local and national data.
Mortgage rates this week
Mortgage rates moved higher this week. Freddie Mac says the average 30-year fixed rate rose to 6.11% for the week ending March 12, up from 6.00% the week before. The average 15-year fixed rate increased to 5.50% from 5.43%. Even with that bump, rates are still below where they were a year ago, when the 30-year averaged 6.65%.
Ohio rate-shopping data shows the same basic story, though lender quotes vary. NerdWallet’s Ohio page showed a 30-year fixed at 6.11%, 15-year fixed at 5.59%, FHA at 5.99%, and VA at 5.38% as of March 13. Bankrate’s Ohio page showed higher shopping averages, with a 30-year fixed at 6.38% and a 15-year fixed at 5.75%. That spread is a good reminder that rates are not one-size-fits-all and shoppers need to compare lenders, fees, and APRs—not just the headline rate.
Why rates went up
The short version: inflation did not worsen in February, but the bond market is worried that it could. The Bureau of Labor Statistics reported February CPI at 2.4% year over year, with core CPI at 2.5%, both unchanged from January. Under normal circumstances, that would have been calming news. But markets are focusing instead on geopolitical tension, higher oil prices, and the possibility that rising energy costs could push inflation back up in coming months. That has pushed Treasury yields higher, and mortgage rates usually follow. AP reported the 10-year Treasury yield rose to 4.25% from 4.13% in the prior week as those concerns intensified. Same old rule: mortgages take their marching orders from the bond market, not from wishful thinking.
What changed in sales and listings—and why
Nationally, sales improved in February because buyers got a brief window of better affordability. NAR said the average 30-year fixed mortgage rate in February was 6.05%, down from 6.10% in January and 6.84% a year earlier. Affordability improved for the eighth straight month, and first-time buyers made up 34% of purchases, up from 31% in January. That tells us lower rates did bring some buyers back into the market.
Locally, the story is more nuanced. Closed sales were flat, inventory rose, and new listings slipped. That combination usually means demand is still healthy, but sellers are not racing to list. It also helps explain why Central Ohio remains a seller’s market even as homes take longer to sell. Buyers have a little more choice than they did a year ago, but not enough to put real downward pressure on prices across the region. In Franklin County, affordability pressure may be weighing more heavily, while Delaware and Fairfield appear to be capturing buyers looking for more value, newer housing stock, or suburban lifestyle preferences. Again, that last part is an informed read of the data, not a direct claim from Columbus REALTORS®.
Notable real estate news this week
One important Ohio item for investors, wholesalers, and sellers: Ohio Revised Code Section 5301.95 took effect on March 2, 2026. The new law governs residential real property wholesalers and adds disclosure requirements. That is a meaningful transparency change for consumers and one worth watching in investor-heavy transactions.
Another important point nationally is that the market is still running below normal transaction levels even with rates lower than last year. NAR says affordability is improving, but demand remains muted relative to job growth, and inventory growth is still sluggish. That is why this market feels better than 2024 in some ways, but not exactly roaring. Better, yes. Easy, no.
Look ahead: week of March 16, 2026
The big item next week is the Federal Open Market Committee meeting on March 17–18. The Fed’s official calendar shows the two-day meeting concludes Wednesday, March 18, with a press conference that afternoon. Markets overwhelmingly expect the Fed to hold rates steady. That does not mean mortgage rates will stay put, because mortgage pricing depends more on inflation expectations and bond yields than on the Fed’s overnight rate alone.
Also on deck next week: NAR is scheduled to release its Pending Home Sales Index for February on March 17, which should give a fresher read on contract activity heading into the heart of the spring market. For Central Ohio, I would expect modest inventory improvement to continue, but unless listings rise faster than they did in February, the region is likely to remain a seller’s market with steady price growth and selective competition in well-priced homes. That forecast is my interpretation of the current local and national trend lines.
Bottom line
Nationally, buyers are finally getting more inventory, softer asking prices, and a little more leverage. In Central Ohio, however, the market is still tighter than the headlines might suggest. Inventory is improving, but supply remains low, prices are still rising, and good homes are not going to sit around waiting for somebody to think it over for three weekends. Buyers need to be prepared, and sellers need to be priced right. Spring market manners still apply.