Coldwell Banker: Mortgage Rate "Lock-In Effect" Eases; One in Three Home Sellers are Giving up a Sub-5% Rate to List this Spring
New survey data tops a list of five trends shaping the 2026 spring housing market
MADISON, N.J., April 23, 2026 /PRNewswire/ -- Coldwell Banker Real Estate LLC today released its 2026 Home Shopping Season Report, identifying the five key trends driving the U.S. housing market this spring. Despite ongoing geopolitical uncertainty, real estate agents report a market shaped by sellers beginning to let go of historically low mortgage rates and buyers who are re-entering the market with renewed intent – but are more cautious and discerning than in years past.
The findings are based on a survey of more than 700 real estate agents nationwide, offering a real-time snapshot of the 2026 spring housing market. Early indicators point to renewed buyer and seller activity, with 43% of agents reporting a busier home shopping season than last year.
"We are seeing activity on both sides of the housing market this spring, but it is measured," said Jason Waugh, President of Coldwell Banker Affiliates. "Buyers are prepared to move forward, yet they are focused on homes that meet long‑term financial and practical needs, and they are taking the time to evaluate their options. On the seller side, many homeowners are listing because their circumstances require a change, even if it means giving up a historically low mortgage rate. With clear motivations on both sides, there is opportunity in the market, but the pace is more controlled than the period immediately following the pandemic."
Top 5 Spring Housing Market Trends for 2026
One in Three Home Sellers are Giving Up a Mortgage Rate Below 5%
Homeowners are beginning to let go of historically low mortgage rates, signaling a potential shift in one of the biggest and most persistent constraints on housing supply. For many sellers, the decision to list is less about timing the market and more about necessity, with 36% of agents saying their clients are listing due to personal life circumstances.
"Working through the lock-in effect will take time," Waugh said. "But we are starting to see early signs that it is loosening, particularly in the Midwest and in the West, which could have a meaningful impact on inventory."
"Comeback Buyers" Account for about 20% of Today's Home Shoppers
Seventy-seven percent of agents surveyed say they are working with homebuyers who are re-entering the market after previously pausing their search. Agents describe these "comeback buyers" as cautious but motivated by current market conditions, with many maintaining budgets similar to their initial search.
Buyers are Not Waiting for Mortgage Rates to Drop
Buyers today are not window shopping. Eighty percent of agents say homebuyers this spring are actively on the market and are not waiting for market conditions or rates to drop further before purchasing their next house.
Climate Risk Concerns Rise Among Buyers Compared to Last Year
Buyers are increasingly factoring in environmental risks, as well as climate-influenced costs like home insurance, into their purchasing decision – especially in regions most exposed to extreme weather.
The Regional Divide Between "Buyer and Seller Markets" Deepened
For much of the past two decades following the Global Financial Crisis, regional housing markets largely moved in tandem. This spring, however, Coldwell Banker affiliated agents report a different story.
Survey Methodology
Coldwell Banker Real Estate surveyed 727 Coldwell Banker affiliated real estate agents to get their insights on local market conditions and buyer and seller sentiment. The survey was conducted online between March 23 and April 6, 2026. The survey included real estate professionals from various markets throughout the United States.
About Coldwell Banker Real Estate LLC
Powered by its network of 93,000 affiliated sales professionals across 50 countries and territories, the Coldwell Banker® system is a leading provider of full-service residential and commercial real estate brokerage services. The Coldwell Banker brand prides itself on its history of expertise, honesty and an empowering culture of excellence since its beginnings in 1906. The Coldwell Banker brand is committed to providing its network of affiliated sales agents with the tools and insights needed to excel in today's marketplace and is known for its bold leadership and dedication to driving the industry forward. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated. Coldwell Banker is a part of Compass International Holdings (NYSE: COMP), a global real estate services company with a presence in every major U.S. city and in approximately 120 countries and territories. To join Coldwell Banker Real Estate and unlock the Gen Blue possibilities, please visit www.coldwellbanker.com/join.
CONTACT: Alexa Fiander, [email protected]
SOURCE Coldwell Banker Real Estate LLC