MTS Logo

MTS Insights

US Existing Home Sales: February 2026

US Existing Home Sales • • Source

U.S. existing-home sales rose +1.7% MoM in February to a 4.09M SAAR but remained -1.4% YoY, reflecting a modest rebound in transactions amid gradually improving affordability conditions.

  • Total existing-home sales increased +1.7% MoM to a seasonally adjusted annual rate of 4.09M in February but declined -1.4% YoY, indicating a modest monthly recovery while overall activity remains below year-earlier levels.

  • Housing inventory rose to 1.29M units (+2.4% MoM, +4.9% YoY), with unsold inventory equal to a 3.8-month supply (unchanged MoM, up from 3.6 months YoY), showing gradually improving supply conditions.

  • The median existing-home price increased +0.3% YoY to $398,000, marking the 32nd consecutive month of annual price gains and highlighting continued price resilience despite subdued transaction volumes.

  • Housing affordability improved for the eighth consecutive month, with the Housing Affordability Index rising to 117.6 (+0.5 pts MoM; +14.5 pts YoY), the highest reading since March 2022.

  • Single-family home sales rose +2.5% MoM to a 3.73M SAAR but were -1.1% YoY, while the median single-family price increased +0.2% YoY to $401,800, indicating modest price appreciation alongside slightly weaker annual sales.

  • Condo and co-op sales fell -5.3% MoM to a 360k SAAR and were -5.3% YoY, while the median price increased +0.9% YoY to $358,100, showing sharper sales declines in this segment despite stronger annual price growth.

  • Regional sales performance was mixed MoM: Northeast -6.0% MoM (-4.1% YoY), Midwest +1.1% MoM (-4.1% YoY), South +1.6% MoM (+0.5% YoY), and West +8.2% MoM (-1.3% YoY), indicating uneven regional housing market dynamics.

  • The median time on market rose to 47 days (Jan: 46; YoY: 42), while first-time buyers accounted for 34% of purchases (Jan: 31%; YoY: 31%), suggesting slightly slower turnover alongside stronger participation from first-time buyers.

  • The average 30-year fixed mortgage rate declined to 6.05% in February (Jan: 6.10%; YoY: 6.84%), aligning with the continued improvement in affordability conditions reported in the index.