The sell-off we’ve seen in March has been hefty and adds to the declines that many ASX growth shares have seen this year.
I don’t know how long energy prices will stay elevated, but I don’t think it will be forever.
Lower share prices give brave investors the chance to buy businesses at a lower valuation that would have been unthinkable last year. It’s possible shares could go even lower, but after all the pain, I think the following ASX shares are great contenders to buy for a possible future recovery.
Temple & Webster Group Ltd (ASX: TPW)
Temple & Webster is one of Australia’s leading retailers, in my view. It sells hundreds of thousands of homewares, furniture, and home improvement products.
As the chart below shows, the company has fallen 54% since the start of the year and 27% in the past month.
It’s normal for retailers to face elevated volatility because of worries about what could happen to consumer spending. Higher energy prices and the flow-on to overall inflation could be a negative.
But in the long term, I think this valuation below $7 will be a great time to buy.
It’s still growing strongly. The FY26 half-year financials showed how revenue rose by 19.8% to $375.9 million, while revenue in the second half of FY26 (to 9 February 2026) showed 20% revenue growth year over year.
The company is gaining market share, and this should have long-term benefits thanks to operating leverage, but it’s sacrificing profitability in the short term to do so.
Technology is helping the ASX share reduce costs, and growing scale is helping it reduce fixed costs as a percentage of revenue. Temple & Webster is forecasting its FY26 operating profit (EBITDA) margin to be between 3% to 5% in FY26, with expectations that the EBTIDA margin could climb to at least 15% in the long term.
I’m bullish about its growth as more people adopt online shopping for homewares and furniture. The online penetration of this category is currently around 20% in Australia â it has reached 29% in the UK and 35% in the US.
Home improvement is also an exciting segment because it could undergo significant online adoption. The ASX share’s home improvement revenue grew 47% in HY26 to $30 million.
In three years, I think this company will be much bigger and more profitable.
REA Group Ltd (ASX: REA)
REA Group has been one of the ASX’s best growth shares of the past 20 years, but the share price hasn’t been the strong performer it used to be. As the chart below shows, it’s down 31% in the past six months and 14% in 2026 to date.
It’s the owner of realestate.com.au, Australia’s leading portal for finding residential property. The business also has a number of other property businesses/investments such as realcommercial.com.au, flatmates.com.au, PropTrack, Mortgage Choice, REA India, and Move Inc (a US business).
Higher interest rates may be a headwind for property prices, but they could be a tailwind for REA Group earnings if they lead to a higher level of property listings and more revenue for the ASX tech share.
I believe the ASX share’s strong market position â it receives significantly more property buyer and seller attention than the competition â will allow it to continue delivering underlying earnings growth in the next few years, making the current valuation look cheap.
At the time of writing, the REA Group share price is valued at under 30x FY27’s estimated earnings, according to CommSec.
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Motley Fool contributor Tristan Harrison has positions in Temple & Webster Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Temple & Webster Group. The Motley Fool Australia has recommended Temple & Webster Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.