February 2026 Housing Market Update: What Buyers and Sellers Need to Know
Spring is on the horizon — and the housing market started to feel it. February was a month of transition for the U.S. housing market. Not a dramatic shift, but a meaningful one. After nine straight months of homes sitting on the market longer, February finally reversed that trend — and it’s a signal worth paying attention to heading into the busiest stretch of the real estate year.
Here is a breakdown of what the February 2026 REMAX National Housing Report means for buyers and sellers right now.
Homes Sold Faster
The headline from February’s report is simple: homes moved quicker. The average days on market dropped to 57, down six days from January. That might not sound like much, but context matters. Days on market climbed for nine consecutive months, growing from 40 days all the way to 62. February snapped that streak.
That said, homes still took six more days to sell than they did in February 2025, so sellers most likely didn’t expect overnight offers — but the direction of travel was encouraging.
For buyers, this is a reminder that hesitation could have a cost. As Joe Beauchemin, Broker/Owner of REMAX Synergy in Bedford, NH, put it: “If you see the right home and don’t step up quickly, it may be gone by the end of the weekend.”
Home Sales Picked Up Steam
February saw 11.1% more closings than January — a meaningful jump that suggested buyers who had been sitting on the sidelines started making moves. March historically, though not always, brings the year’s largest monthly increase in home sales, so that momentum could build quickly. On a year-over-year basis, sales were down 3.2% compared to February 2025.
Markets who lead the way in year-over-year sales growth included Kansas City, MO (+14.6%), Richmond, VA (+10.7%), and Tulsa, OK (+10.6%). On the other end of the spectrum, Dover, DE (-26.2%), Providence, RI (-22.4%), and Pittsburgh, PA (-10.5%) saw the steepest declines.
Prices Held Steady — and Ticked Up
The median sales price in February 2026 was $428,000, up 0.8% from both January and February 2025. That was modest growth, but growth nonetheless — and it reflects a market where pricing held firm despite softer sales volume.
Trenton, NJ led all markets in year-over-year price gains at +14.3%, followed by Anchorage, AK (+7.3%) and St. Louis, MO (+7.1%). On the other side, Boston, MA saw prices dip 4.4% year-over-year, with Denver, CO (-4.0%) and Bozeman, MT (-2.9%) also pulled back.
For sellers, stable prices can be good news. For buyers, the data suggests that waiting for prices to drop significantly may not be the right strategy in some markets.
New Listings Dipped
New listings were down 6.8% compared to February 2025, and down another 4.4% from January. A tighter supply of fresh listings means buyers may have fewer options — and sellers who price correctly have a real advantage.
The markets with the sharpest declines in new listings were Trenton, NJ (-43.5%), Philadelphia, PA (-38.2%), and Dover, DE (-37.5%). On the flip side, Bozeman, MT (+30.9%), Fayetteville, AR (+30.6%), and Manchester, NH (+21.3%) saw notable increases.
Inventory Held Steady, Supply Came Down
The total number of homes for sale was essentially unchanged from January, while finishing 7.3% higher than a year ago. That year-over-year growth is a positive sign for buyers, even if the monthly picture stayed flat.
Months’ supply of inventory came in at 2.9 — down from 3.1 in January — meaning the market tightened slightly heading into spring. New Orleans, LA (6.3 months) and Miami, FL (6.1 months) offered the most buyer-friendly conditions. Manchester, NH (1.1 months) and Hartford, CT (1.3 months) remained the most competitive markets in the country.
Buyers Still Paid Close to Asking
On average, buyers paid 98% of the asking price in February — unchanged from January and just one percentage point below February 2025. That slight softening from last year may have gave buyers a small but real window for negotiation in many markets.
San Francisco, CA continued to stand out with a close-to-list ratio of 105.1%, meaning homes there were still regularly selling above asking. Hartford, CT (101.9%) and Manchester, NH (100.8%) were also above the line. Miami, FL (93.9%), Houston, TX (96.0%), and New Orleans, LA (96.2%) may have offered more room to negotiate.
What Does This Mean for You?
As REMAX President Chris Lim noted, “timing, pricing and strategy are becoming increasingly important.” That applied to both sides of the transaction. If you’re buying: The window before peak spring competition is narrow. Inventory still grew year-over-year, but days on market dropped — meaning other buyers woke up too.
Getting pre-approved and working with an experienced agent who knows local pricing is essential right now. If you’re selling: Pricing precision matters more than ever. Homes that are priced correctly are generating strong demand. Overpriced listings risk sitting while spring foot traffic passes them by. And for buyers and sellers who are prepared, that is exactly the kind of environment where smart decisions pay off.
