Buyer Concerns Shift Amid Rising Rates and Iran Conflict
The spring housing market in the U.S. is off to a slower start than expected, with rising mortgage rates and uncertainty over the Iran war affecting buyer sentiment, according to a recent survey of real estate agents.
The CNBC Housing Market Survey, which collected responses from 70 randomly selected agents between March 24 and March 30, found that concerns over the economy and mortgage rates have overtaken home prices as the top issues for buyers. About one-third of agents cited the economy and another third cited mortgage rates, a sharp rise from 26% in the previous quarter. Only 9% said prices were their buyers’ main concern.
Average daily 30-year fixed mortgage rate in the U.S.
Feb. 27–April 6, 2026
Mortgage rates on 30-year fixed loans rose from a low of 5.99% just before the Iran war began to around 6.5% now. As a result, affordability challenges have intensified: 19% of agents said higher costs are causing buyers to exit the market, up from 11% in the fourth quarter. More than half of agents reported at least one contract cancellation in the first quarter.
What are your buyers most concerned about right now?
“Buyers that were on the fence are now saying, ‘I’m not going to buy,’” said Eric Bramlett, a real estate agent in Austin, Texas.
How has housing affordability impacted buyer behavior over the past quarter?
Homes are also staying on the market longer, with 31% of listings lingering more than six weeks, up from 26% in the previous quarter. Sellers are increasingly worried about time on the market, with 37% citing it as their top concern, overtaking price.
Average time on market before listings go under contract
Despite these headwinds, agents say the market remains generally balanced or in the buyer’s favor, though fewer agents called it a buyer’s market compared with last quarter (36% vs. 42%). Some sellers are delaying listings, hoping to wait until later in the year when conditions may improve.
Compared to last quarter, home prices are:
“Originally, spring felt like the perfect time to list, but now sellers want to wait and see,” said Dana Bull, an agent in Boston.
How would you describe current real estate conditions in your area?
Overall, just over half of agents surveyed expect market conditions to improve later in spring, a decline from expectations at the end of 2025 before the Iran war added new uncertainty.
What is your expectation for sales in your market in the next quarter?
