- The common home that went under contract in February spent 66 days on the market– the slowest February pace in a
- years. The common buyer scored 1.8% off the sticker price– the biggest February discount since 2023; sellers surpass buyers, providing purchasers negotiating power.
- Pending home sales and new listings both inched down last month, while home prices inched up.
U.S. homebuyers are taking their time as we head into spring, which is normally the hectic season for the real estate market.
The common home that went under contract in February invested 66 days on the market. That’s the slowest February pace because 2016 and is up from 58 days a year previously.
“Home hunters have been waiting for home mortgage rates to drop, and they lastly fell listed below 6 %a number of weeks ago, which was excellent. One of our agents had a customer lock in a 5.6% rate,” said Redfin Senior Economic expert Asad Khan.”However then rates recovered. The war in Iran, increasing gas costs and other financial jitters are making property buyers anxious.”
Financial uncertainty isn’t the only element triggering property buyers to slow their roll. It’s a buyer’s market, with sellers surpassing purchasers by more than 40%. That implies the buyers who are in the market have negotiating power and can afford to take their time.
The normal property buyer in February paid 1.8% less than the last list price, the largest discount for this time of year because 2023. The mean home sale price was $429,259, up 0.9% from a year previously. While home rates continue to grow, this development pales in comparison to the double-digit gains we saw throughout the pandemic homebuying craze.
Pending Home Sales and Listings Both Ticked Down Last Month
Homebuying and selling activity were both muted in February. Pending home sales fell 0.8% month over month on a seasonally adjusted basis, while brand-new listings fell 1.2%.
An early take a look at March data reveals that more sellers may be checking the waters, and some sellers who delisted their homes last year are considering relisting in hopes of an uptick in spring demand.
February 2026 Housing Market Emphasizes: United States
February 2026 Month-over-month
to time to guarantee information precision. Describe our metrics meaning page for explanations of
most from a year earlier in St. Louis(7.6%
), Newark, NJ (5.6% )and Kansas City, MO( 4.6 %). They fell most in Oakland, CA(-5.6%), Austin, TX (-4.2 %)and Denver (-4.2%). Pending home sales: Pending sales rose most in San Jose, CA (11 %), Milwaukee(10.8% )and Portland, OR(8%). They fell most in Nassau County, NY(-21.1%), Oakland (-17.6%)and Providence, RI (-12.5%). Closed home sales: Home sales increased most in Kansas
- City, MO (12.3% ), San Jose(10 %)and Jacksonville, FL( 6.9%). They fell most in Providence (-15.4 %), Newark(-12.2%)and San Antonio (-12.2%). New listings: New listings increased
- most in Kansas City, MO (15.7%), Milwaukee (15.4 %) and Portland, OR (13.3%). They fell most in Nassau County(-25.7%), Providence (-20.4%)and New Brunswick, NJ (-18.1%).
- Active listings: Active listings increased most in Seattle (17.4%), Detroit (14.5 %)and Washington, D.C.(10.8% ). They fell most in Jacksonville(-15.6%), San Francisco(-15.1 %)and Nassau County(-12.1%)
- . Days on market : In San Antonio, the typical home that went under agreement did so in 109 days, which was 28 days longer than a year previously– the greatest increase amongst the city analyzed. Next
- came Las Vegas(+21 days)and Charlotte, NC (+19 days). San Francisco was the only city that saw a decline( -1 day). Offered above list price: In San Francisco, 61.9%of
- homes sold above their final sticker price, the greatest share amongst the metros examined. Next came San Jose (60.6 %)and Oakland (55.2 %). The lowest shares were in West Palm Beach( 5.1%), Miami(7.1 %)and Houston(10.3%). February 2026 Complete Metro-Level Data U.S. metro area Median list price Median list price, Y/Y modification Pending sales, Y/Y modification Houses sold, Y/Y change
- New listings, Y/Y change Active listings, Y/Y change Typical days on market Typical days on market, Y/Y change Anaheim, CA$1,200,000 0.0 %-8.8%-7.0 %-5.9 %-4.1%46 5 Atlanta, GA $391,680 1.1%-2.8%-0.9 %-4.4%3.9%78 8 Austin, TX$ 412,000 -4.2%6.3%3.1
%4.7%4.5 %110 10 Baltimore, MD$380,000 4.0
%0.8 %-2.4 %-9.7%9.2 %48 10 Boston, MA$690,000 -2.1%-6.6 %-8.3 %-12.4 %1.8 %36 11 Charlotte, NC$ 401,000 1.5% N/A -5.5%-5.2 %7.5 %90 19 Chicago, IL$ 360,000 4.4% -0.2%-8.7%-5.0%-5.1% 69 1 Cincinnati, OH$299,900 3.4 %-6.0%-1.8%-3.3%4.7%53 4 Cleveland, OH$ 230,000 4.6% -7.6%-8.6 %-4.5%1.9%44 4 Columbus , OH$ 332,000 3.1 % -1.3% 1.4% -8.6%1.7%64 9 Dallas, TX $399,947 -3.6 % -1.1% -10.6 % 1.0%0.3 % 88 17 Denver , CO$ 575,000 -4.2% 4.4% -0.9 % 5.1 %5.5%51 6 Detroit, MI $181,250 2.7% -1.8 % -9.2% 4.8% 14.5%45 6 Fort Worth, TX $353,783 1.0%0.0 %-8.7%0.9 % -3.0% 79 5 Houston , TX$325,000 -0.5 %-10.4% -6.0%-3.2%3.0 %82 18 Indianapolis, IN$ 300,000 0.7%-4.5% -2.9% -4.1 %7.5%61 12 Jacksonville, FL$ 365,000 -1.1% 4.3% 6.9% -17.5 %-15.6% 88 8 Kansas City , MO $339,900 4.6% N/A 12.3% 15.7% 1.0% 51 1 Las Vegas, NV $440,000 -0.6 % -5.5% -8.7% -0.9 %8.2%81 21 Los Angeles , CA $905,000 -1.5 % -6.7 % -7.6 %-5.6%-3.2%63 8 Miami, FL$ 565,000 -1.7%-1.0%5.4%-11.6 % -4.4% 105 11 Milwaukee, WI$329,900 0.0% 10.8%0.3%15.4 %7.9%52 4 Minneapolis, MN$ 380,000 -1.3% -5.0% -7.8 % 3.7%2.2 % 63 11 Montgomery County, PA$ 468,000 1.7% -2.2% -8.7 % -5.8%1.9%39 1 Nashville, TN $459,950 0.0% -6.7% -2.9 % 0.0%7.7 % 97 13 Nassau County , NY$ 730,000 2.1 % -21.1 % -2.6 %-25.7% -12.1%41 5 New Brunswick, NJ$ 545,000 2.8% -11.5 % -10.9%-18.1%-3.0%57 7 New york city , NY $795,000 3.9% -9.8 % -6.5% -17.8% -5.6%70 5 Newark, NJ $590,000 5.6% -5.5% -12.2 % -12.5%1.5%45 2 Oakland, CA $877,750 -5.6% -17.6 % -3.5% -12.5%-9.3%16 1 Orlando , FL $400,000 0.0% -6.2% -5.1% -12.0 % -8.1%68 1 Philadelphia, PA$ 280,750 2.3 % -9.9 % -8.7% -15.8%-2.5%62 4 Phoenix, AZ $465,000 -1.6 % 1.2% -1.9% -8.1 %0.6%70 4 Pittsburgh, PA $235,000 2.2% -7.1% -10.0 % -8.3 %-0.5%92 7 Portland, OR$539,900 0.0%8.0 %0.0%13.3%4.3%57 11 Providence, RI$491,500 2.4% -12.5 % -15.4%-20.4%-3.9%39 3 Riverside, CA $579,000 -1.9% -3.9%-3.3 % -11.2 % -9.4 % 71 10 Sacramento, CA $571,500 -2.0 % 0.0% 1.0% -9.0% -1.9%37 6 San Antonio, TX $295,000 1.8% -1.6% -12.2% -12.9% -0.8% 109 28 San Diego, CA$ 899,000 -0.1% 0.3%2.2% -5.5% -3.4% 35 6 San Francisco, CA $ 1,545,000 3.0%6.6%4.6%-5.3% -15.1 % 14 -1 San Jose , CA$ 1,562,000 -1.1%11.0 %10.0%-1.9% -4.1%12 2 Seattle, WA $803,000 0.4 % -8.6% -8.1% 11.8%17.4%26 13 St. Louis, MO$ 269,000 7.6% N/A -0.6% 7.7% 10.4%40 3 Tampa, FL $382,000 3.2% -7.8% -9.8% -11.3% -6.5% 65 10 Virginia Beach, VA $360,000 2.9% -4.5 % 1.3% 4.5% -1.4%46 5 Warren, MI $300,000 3.4% -7.4% -10.2% 3.0% 7.9% 42 11 Washington , DC $564,393 1.7% 3.9% -0.6 % 2.5% 10.8%52 16 West Palm Beach, FL$ 527,000 -3.3% 6.0% 3.2% -0.3% -3.2%93 2 - New listings, Y/Y change Active listings, Y/Y change Typical days on market Typical days on market, Y/Y change Anaheim, CA$1,200,000 0.0 %-8.8%-7.0 %-5.9 %-4.1%46 5 Atlanta, GA $391,680 1.1%-2.8%-0.9 %-4.4%3.9%78 8 Austin, TX$ 412,000 -4.2%6.3%3.1