The first month of the U.S. war in Iran has brought consumers higher prices at the pump, and higher payments when taking out mortgage loans.
But homesellers aren’t getting cold feet.
An Inman Market View examination of new data from Realtor.com shows how new listings have gained momentum in some of the nation’s most prominent tech hubs and posted solid numbers in hundreds of other markets to kick off the spring.
But what’s happening in the tech-heavy metros may serve as a sign of caution for the rest of the country: This flow of new supply isn’t guaranteed to result in a boost in sales.
With these interactive maps and charts, explore how the early spring is unfolding in a U.S. housing market that remains fragmented by price point, inventory and geography.
Click into one of the 500 local markets in the tool above, or search for an option in the drop-down menu for an even more detailed look at the data. Select different metrics and time-period comparisons for a fuller picture.
Tech and housing
Fears that last month’s higher mortgage rates might lead sellers to immediately lose interest may be put at ease with these new numbers.
- In the first quarter of 2026, new listings nationwide were 14 percent below pre-pandemic levels for that time of year, a 1 point improvement from the previous quarter.
- The number of newly listed properties was also 1 percent higher than it was a year earlier.
You can compare your market’s path to that of the nation by selecting it in the drop-down menu above. You can also select other metros, and toggle between different metrics and comparison views.
While early, these numbers suggest there’s been no immediate downturn in listings following the U.S. military action in Iran. And the growth that we’re seeing in many places has even outpaced what used to be considered normal for a pre-pandemic spring.
This was especially apparent in metro areas with high concentrations of tech employees, such as Silicon Valley, Seattle, Austin and Denver.
The greater San Jose area, which is home to many of the world’s largest tech companies, saw one of the most dramatic shifts in recent months.
- The number of homes that hit the market in the last three months near Silicon Valley was 10 percent higher than pre-pandemic levels for that time of year.
- That’s a major upswing from the final three months of 2025, when new listings in this metro area were 22 percent below what was normal for that time of year from 2017 to 2019.
To the extent this surge of new listings is driven by these places’ connections to the tech industry, it may be more about homesellers losing jobs and being forced to list than a sign of intent to buy.
Here’s a longer-term chart of US tech employment growth — the only thing that compares to the scale and length of current job losses is the dot-com bust
— Joey Politano🏳️🌈 (@josephpolitano.bsky.social) March 6, 2026 at 7:47 AM
And Silicon Valley is far from the only tech hub to see its housing market transformed in recent years.
The evolving downtown
The fate of downtown housing markets has been the subject of much discussion in recent years, and Seattle stands out for its especially stark picture.
Now six years after the pandemic first upended these markets, the areas nearest Seattle’s downtown employment hub are seeing new listings come online at a faster clip than before.
But get a few miles out from the downtown core, and new-listing volume is depressed — as it remains in much of the country.
In Seattle, this may have to do with a combination of return-to-office initiatives by major employers, but may also be assisted by the fact that central Seattle home prices haven’t risen nearly as much in recent years as they have in the nearby cities and exurbs.
Every market’s path through this period has been unique. Plug yours into the tool above to see how things have changed near you.
