Spring Homebuying Season Sees More Activity with Lower Mortgage Rates

Experts predict increased buyer interest and more listings as rates decline from 2025 highs.

Published on Feb. 11, 2026

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With mortgage rates down from a year ago and more homes hitting the market, real estate experts expect a more active spring homebuying season in 2026 compared to recent years. While home prices are still expected to rise modestly, lower rates have made monthly payments more affordable, leading to increased buyer interest, especially from first-time purchasers.

Why it matters

The spring homebuying season is traditionally one of the busiest times of year, as warmer weather and more new listings draw in more prospective buyers. After a period of high mortgage rates in 2025, the recent rate declines could make home purchases more accessible for many, potentially leading to more competition and bidding wars in desirable markets.

The details

Mortgage rates have declined from an average of 6.63% in March 2025 to 6.11% as of early February 2026, a drop of over 0.5 percentage points. This has made monthly payments more affordable, with a $500,000 mortgage costing over $300 less per month compared to a year ago. Experts say many buyers are realizing that sub-4% rates are unlikely to return, and rates below 6% are the new normal. Additionally, active home listings are up 10% from a year ago, as some sellers who failed to sell in 2025 are trying again this spring.

  • Mortgage rates declined from 6.63% in March 2025 to 6.11% as of early February 2026.
  • Spring is traditionally one of the busier home buying seasons, with more new listings hitting the market in April and May.

The players

Jeremy Schachter

Branch manager at Fairway Home Mortgage.

Kimberly Schmidt

Real estate agent at Compass Real Estate in San Diego, California.

Jamie Slavin

Mortgage production manager at Ent Credit Union.

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What they’re saying

“Many buyers are slowly realizing that rates in the 3s are not coming back and rates below 6% are the new normal.”

— Jeremy Schachter, Branch manager at Fairway Home Mortgage

“The market in San Diego today is looking noticeably more active this year than last, in my opinion. I'm noticing more buyer calls overall, especially from first-time buyers who are ready to take the plunge.”

— Kimberly Schmidt, Real estate agent at Compass Real Estate

“Homes in prized school districts, desired neighborhoods, and in really good condition move very quickly and have escalation clauses (bidding wars) in them. Those without these attributes sit longer.”

— Jamie Slavin, Mortgage production manager at Ent Credit Union

What’s next

If you're financially ready and can comfortably afford the monthly payment, buying a home now protects you from the potential for rising prices later. However, the decision to buy now versus waiting is a highly personal one that depends on your risk tolerance and view of the economy.

The takeaway

With more homes on the market and lower mortgage rates, the spring 2026 homebuying season is expected to be more active than in recent years. While prices may continue to rise modestly, the improved affordability could lead to increased competition, especially for desirable properties.