Your Money Minute – “Disappointing Home Sales So Far” (3/9/26)
Brief Overview
This episode of CNBC’s “Your Money Minute,” hosted by Jessica Ettinger, offers a concise analysis of the unexpectedly sluggish home sales market as the spring season approaches in 2026. Despite a drop in mortgage rates to their lowest in four years, housing market activity has not increased as anticipated. CNBC experts Kelly Evans and Diana Olich break down the underlying reasons and contextualize the overall state of U.S. real estate.
Key Discussion Points & Insights
1. Spring Market Disappointments
- Jessica Ettinger (00:00): Opens with the expectation that spring would bring a stronger home-selling season, a hope not fulfilled so far.
2. Mortgage Rates Hit Four-Year Lows—But No Uptick
- Kelly Evans (00:12):
- Reports that “mortgage rates are down at their lowest level in four years.”
- Notes the usual expectation: Lower mortgage rates should spur home buying.
- Contrasts with reality: Despite this, “it hasn’t” led to more home purchases.
- Memorable Moment: Cites Google trends showing “‘can’t sell house’ are at their highest levels ever,” reflecting market frustration.
3. Why Are Buyers Still Hesitant?
- Diana Olich (00:24–00:33):
- Explains that while rates, hovering between 6–6.25%, are lower, “it’s all relative.”
- For buyers, the drop “is just not an incentive” given broader concerns.
- Factors behind slow sales:
- Economic uncertainty: “They are concerned about the economy.”
- Persistently high prices: “Home prices are still high.”
- Limited supply: “There’s not a lot of great supply on the market to see either.”
4. Comparing Year-Over-Year Mortgage Rates
- Jessica Ettinger & Diana Olich (00:54–00:59):
- Emphasize that mortgage rates “have really fallen from this same time last year,”
- Diana Olich (00:59): “Almost a full percentage point” lower, still, buyers aren't motivated—“it’s a troubled market right now.”
Notable Quotes & Memorable Moments
- Kelly Evans (00:17):
“Google trend searches for the phrase 'can’t sell house' are at their highest levels ever.” - Diana Olich (00:37):
“For home buyers out there, it’s just not an incentive to get into a market where they are concerned about the economy, where home prices are still high, and where there’s not a lot of great supply on the market to see either.” - Diana Olich (00:59):
“Mortgage rates were a lot higher a year ago, almost a full percentage point… But it’s just, you know, it’s a troubled market right now.”
Timestamps for Important Segments
- 00:00: Episode introduction; spring home sales outlook
- 00:12: Mortgage rates at lowest in four years; expected market response
- 00:24: Kelly Evans passes to Diana Olich for deeper analysis
- 00:33–00:54: Diana Olich details buyer hesitation and market factors
- 00:59: Year-over-year rate drop isn’t moving the needle for buyers
- 01:09: Closing note and resource: “Keep up on the real estate market @cnbc.com”
Episode Tone
The discussion maintains a matter-of-fact, data-driven tone, mirroring listener frustration and concern while delivering key insights in a clear, concise manner, characteristic of CNBC’s financial reporting style.
Summary Takeaway
The spring 2026 housing market is underwhelming despite favorable mortgage rates. Key barriers for would-be buyers include economic uncertainty, stubbornly high home prices, and limited supply—all conspiring to dampen activity in what is usually a busy season for real estate. For continued updates, listeners are directed to CNBC’s real estate coverage.