Home prices see largest decline since 2012 as banking crisis hits demand: 'There's this fear that everything will crash'

• Median home prices in March dropped 3.3% annually, the biggest decline since 2012, Redfin said.
• Pandemic boomtowns and the San Francisco Bay Area led the price declines.
• "I was consistently busy in the fall, but things got really quiet in March after the collapse of Silicon Valley Bank."

US home prices in March dropped by 3.3% annually to a median of $400,528, marking the largest decline in 11 years, according to real-estate firm Redfin.