Each month, the Research Update report provides a summary of the data, reports, blog posts, and instant reactions produced by NAR's research team.
February 2026
Data
Existing-Home Sales
Existing-home sales increased by 1.7% month-over-month in February. Month-over-month sales rose in the Midwest, South, and West, and fell in the Northeast. Year-over-year sales rose in the South and fell in the Northeast, Midwest, and West.
Pending Home Sales
Pending home sales in February increased by 1.8% from the prior month and declined 0.8% year-over-year. Month-over-month pending home sales rose in the Midwest, South and West, and declined in the Northeast. Year-over-year pending home sales rose in the South and West and declined in the Northeast and Midwest.
Housing Affordability Index
Affordability improved for the eighth consecutive month, increasing to 117.6 in February from 117.1 in January and 103.1 a year ago. This marks the highest level since March 2022.
REALTORS® Confidence Index
Median time on market for properties is 47 days, up from 46 days last month and 42 days in February 2025. 34% of sales were first-time homebuyers, up from 31% in January and one year ago. 31% of transactions were cash sales, up from 27% a month ago and down from 32% in February 2025.
How REALTORS® Can Use This
REALTORS® can use existing-home sales and pending home sales data to gauge current demand trends and anticipate market shifts. They can also utilize the affordability and quarterly data to identify pricing patterns and assess buyer capacity across different regions to adapt strategies for their clients.
Videos
- Ask the Economist: How Can Sellers Use Housing Equity to Offset Their Next Mortgage?
- Ask the Economist: How Can NAR's Home Staging Data Be Used for Sellers' Benefit?
- Ask the Economist: Will the Federal Reserve Implement Quantitative Easing in 2026?
- Ask the Economist: How Is AI Changing Real Estate?
How REALTORS® Can Use This
“Ask the Economist” is a new video series that gives REALTORS® a quick, easy-to-digest update on new economic trends and market activity, straight from NAR's Research Team. REALTORS® can use this in listing appointments to show buyers/sellers they’re up-to-date on interest rates, housing inventory, etc.; buyer consultations to explain why now might be a good time to act or wait based on real data; email follow-ups: “Here’s what NAR’s latest economist update says about local trends.”
Reports
- January 2026 Commercial Real Estate Market Insights
- Residential Real Estate Market Snapshot
- Appraisal Issues Survey (member login required)
How REALTORS® Can Use This
REALTORS® can leverage NAR reports to provide clients with data-driven insights on specific market conditions and equip themselves with important knowledge about the market. This empowers members to assist buyers and sellers in making informed decisions regarding timing, pricing, and location.
Articles on the Economy
- Conditions Change—Opportunity Remains
- Market Dynamics in March: Sales, Inventory, and Buyer Trends
- Beyond Principal and Interest: The Escrow Effect
- Green Features, Real Value: How Sustainability Is Shaping Commercial Market Performance
- How Much More Do Homeowners Earn Than Renters? Smaller and College Towns Rise to the Top With the Largest Income Gaps
- Instant Reaction: Jobs, March 6, 2026
- Where Millennials Own Homes
- Similar Homeownership Rate, Much Older Homeowners
- Top 15 States for Population and Migration Trends in 2025: The South Leads, the Midwest Gains
How REALTORS® Can Use This
REALTORS® can use the Economists’ Outlook blog to stay updated on experts’ commentary, economic forecasts, housing market outlooks, and regional trends, and then use these insights to help clients on timing purchases or sales based on anticipated market movement. By sharing analysis of the housing market and translating it into consumer-friendly guidance, agents can build credibility and empower their clients to navigate the housing market with confidence.