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Fortune
Fortune
Business
Tristan Bove

Real estate has had a terrible start to spring—usually housing’s hottest season

A couple being shown around a home by a realtor. (Credit: The Good Brigade/Getty Images)

The picture of an American springtime usually looks something like this: sunny days, chittering birds, and, on many suburban streets, a congested driveway full of eager prospective homebuyers gathering for an open house.

Spring is usually when the U.S. housing market heats up, as potential buyers start shopping ahead of desired summer move-ins. But the 2026 housing market has gotten off to a rough start, as affordability concerns continue to weigh down activity and disrupt the industry’s seasonal rhythm.

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