News & Insights

Existing home sales rose 1.7% in February but fell 1.4% over the year. Housing inventory moved up to 1.29 million units, increasing 2.4% from January and 4.9% from last year. The median existing home price was $398,000, up 0.3% from last year. The Midwest, South and West posted monthly increases in existing home sales, while the Northeast registered a decline in February.

Single-family home sales advanced 2.5% from January but fell 1.1% from February 2025, with the median price ticking up 0.2% from last year to $401,800. Condo and co-op sales declined 5.3% over the month and 5.3% over the year to 360,000 units in February. Meanwhile, the median price for condos and co-ops inched up 0.9% from the prior year to $358,100.

Homes were typically on the market for 47 days in February, up from 46 days in January and 42 days in February 2025. First-time buyers made up 34% of sales in February, up from 31% in January and in February 2025.