From the Desk - Economic Commentary
Brandon Casey, Member Strategies - 4/13/2026
U.S. equities are mixed at the start of the week as investors assess recent geopolitical developments involving Iran. Over the weekend, President Trump indicated that the United States would move to blockade the Strait of Hormuz after peace talks with Iran concluded without an agreement. Reports also suggested that U.S. officials are considering the possibility of renewed military action. In early trading, the S&P 500 and Nasdaq are modestly higher, while the DJIA is lower.
Existing home sales declined in March 2026, falling 3.6% month-over-month to a seasonally adjusted annual rate of 3.98 million units. Sales were also down 1.0% over the last year. Inventory improved modestly, with 1.36 million existing homes for sale, representing a 4.1-month supply, up from February but still below historical norms. Despite slower sales, home prices remained firm, with the median existing-home price rising 1.4% from a year earlier to $408,800, extending a streak of more than 30 consecutive months of year-over-year price gains. NAR noted that limited supply remains a key constraint on the market, while elevated financing costs continue to temper overall transaction volume.
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