Today's Market News:
Fannie Mae Announces New Condo Policies
Fannie Mae recently released a Lender Letter with changes to their condo policies — some positive, some maybe not.
The March 18th Lender Letter expands waiver eligibility for certain small projects, retires investor concentration limits, eliminates the Limited Review process, raises minimum replacement reserve requirements from 10% to 15%, and makes a series of insurance-related changes with staggered implementation dates.
Fannie Mae said the changes are intended to support "the financial resilience and long-term sustainability of condo projects" while also addressing insurance pressures and operational complexity.
Industry experts view the removal of investor concentration limits as a positive, but the removal of Limited Review for established projects has caused concerns. This policy provided a streamlined underwriting process that featured less documentation, faster processing, and fewer condo association checks.
If you have concerns about the availability of condo financing for your buyers, contact me so we can review their current options.1
A Longer Conflict May Contribute to Lower Home Sales
The immediate impact of the ongoing conflict with Iran on the U.S. housing market has been a sharp rise in mortgage rates. One day before the strikes began on February 28th, the average rate on the 30-year fixed loan was 5.99%. It is now hovering around 6.5%.
A senior economist at Realtor.com described the current situation. "As the housing market approaches the 'best time to sell' season, it sits in a precarious position, caught between long-term improvements and sudden short-term instability."
Considering that the United States and Israel initially hoped for a "quick and decisive" victory that has lasted over a month, Zillow's chief economist Mischa Fisher published a forecast that compared the length of the conflict to effects on home sales.
- If the conflict ends by the end of April, home sales would still rise 3.48% this year compared with last year.
- If it doesn't end until July 1st, the home sales gain would drop to 2.33% when compared with 2025.
- In a more prolonged scenario, such as lasting until the end of August, the annual gain would be 1.21%.
Design a Springtime Marketing Campaign
A multi-week campaign can keep you top of mind with prospects during a traditionally busy sales season. This is especially important if your territory is affected by buyer shortages or stale inventory.
To make planning easier, here are ideas for a five-week campaign (although you can change the timing). You can go all-out with postcards and mailers, promote a local event, and add spring-themed content to your social media calendar.
Week 1: Welcome spring. Include messaging that tells prospects that the market is blooming, and you would love to chat with anyone who's thinking of making a move soon. Create some colorful postcards or add eye-catching springtime designs to your social media.
Weeks 2-3: Establish Your Expertise. A client testimonial is a great way to tell prospects about your past accomplishments. For example, if you've helped a client sell in just a few days, ask them for a testimonial and obtain permission to share it on social media.
Another message could be "Ask me anything!" Encouraging engagement, offering advice, and posting your replies can help you increase likes, comments and engagement.
Weeks 4-5: Stay Connected. Focus on staying top-of-mind in your community. Depending on your budget, you can look for an event to co-host or offer Homeowner Checklists with lists of DIY tips for seasonal checkups. 3
Housing Inventory Going Stale in Some Regions
More than half (52.2%) of the nation's property listings that were live in February 2026 had been on the market for at least 60 days without going under contract. This adds up to $347 billion worth of stale listings, which represents the highest share since 2019.
On a state level, some are suffering more than others. Florida is home to the most stale listings, while California has the least.
In Miami, nearly two-thirds (62.6%) of home listings are stale, the biggest share of all the major U.S. metros. Next come San Antonio (58.3%), Pittsburgh (58.1%) and West Palm Beach (55.9%). With the exception of Pittsburgh, these markets have twice as many home sellers as buyers.
In San Jose, only 19.8% of listings are stale, the smallest share among the major metros, followed by San Francisco (24%) and Oakland (31.1%). Next come Anaheim (34%) and Seattle (34.1%).
This doesn't mean the market is totally frozen. The total number of homes for sale is up by 1.5% annually. While some sellers have backed off, many are still in the market, hoping to cash in on still-high home values. 4
FSBOs Aren't Extinct. Here's How to Approach Them.
Here are some strategies shared by seasoned agents:
Go in with a diagnosis, not a pitch. These homeowners are usually trying to preserve a certain profit margin while retaining control of the transaction. Instead of a generic listing presentation, ask them what they think their net will be, and what (if anything) has gone sideways.
What's your plan for increasing their profit after paying your fee? That's your hook. Be ready to answer this question. You made a bold declaration... Now go show your value.
Ask these three questions: their target net, their true timeline, and what they'll do if 60 days go by without a sale. Then show the math on carrying costs, concessions, and fall-through risk so they can compare their potential net profits if they work with you or not.
Effective FSBO pitches can also mention an agent's ability to identify qualified buyers, prepare required seller's disclosures, and provide access to the regional MLS. 5
Sources: 1nationalmortgageprofessional.com, 2cnbc.com, 3wiseagent.com, 4redfin.com, 5investopedia.com
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