Florida Metros Boost February Pending Sales

 National pending home sales rose 1.8%, with Florida metros like Jacksonville and Miami posting strong gains, signaling steady demand and more closings ahead.

WASHINGTON — Pending home sales in February increased by 1.8% from the prior month and declined 0.8% year-over-year, according to the National Association of Realtors® Pending Home Sales report. The report provides the real estate ecosystem – including agents and homebuyers and sellers – with data on the level of home sales under contract.

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.

“The slight gain in pending contracts appears to be driven by improved affordability conditions. However, those conditions could reverse if higher oil prices lead to an uptick in mortgage rates,” said NAR Chief Economist Dr. Lawrence Yun. “The Midwest – the most affordable region of the country – was the strongest performer in February. But the Northeast was held back by a combination of higher home prices and a shortage of supply.”

“For first-time homebuyers, purchasing a home is not a snap decision,” Yun added. “It takes time to build credit, save for a down payment, and fulfill existing rental lease agreements. Still, there is sizable pent-up demand that could be released into the market. Although job gains have been sluggish in recent months, there are still 6 million more jobs in the country than in the pre-COVID period.”

February 2026 national pending home sales

• 1.8% increase month-over-month
• 0.8% decrease year-over-year

February 2026 regional pending home sales

Northeast

• 3.6% decrease month-over-month
• 12.1% decrease year-over-year

Midwest

• 4.6% increase month-over-month
• 0.1% decrease year-over-year

South

• 2.7% increase month-over-month
• 1.2% increase year-over-year

West

• 0.9% increase month-over-month
• 3.2% increase year-over-year

At the local level, several markets posted notable year-over-year gains in pending home sales. Among the 50 largest metro areas, the following 10 markets posted the biggest annual increases in pending home sales, according to data from Realtor.com® Economics:

1. San Diego–Chula Vista–Carlsbad, CA (+13.5%)
2. Jacksonville, FL (+12.1%)
3. San Jose–Sunnyvale–Santa Clara, CA (+10.6%)
4. Denver–Aurora–Centennial, CO (+10.5%)
5. Miami–Fort Lauderdale–West Palm Beach, FL (+10.0%)
6. Phoenix–Mesa–Chandler, AZ (+9.8%)
7. Sacramento–Roseville–Folsom, CA (+9.3%)
8. Kansas City, MO-KS (+8.7%)
9. Austin–Round Rock–San Marcos, TX (+8.1%)
10. Oklahoma City, OK (+7.4%)

The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

Pending contracts are good early indicators of upcoming sales closings. However, the amount of time between pending contracts and completed sales is not identical for all home sales. Variations in the length of the process from pending contract to closed sale can be caused by issues such as buyer difficulties with obtaining mortgage financing, home inspection problems, or appraisal issues.

The index is based on a sample that covers about 40% of multiple listing service data each month. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months.

An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined. By coincidence, the volume of existing-home sales in 2001 fell within the range of 5.0 to 5.5 million, which is considered normal for the current U.S. population.

© 2026 National Association of Realtors® (NAR)

Florida’s Housing: Closed, New Pending Sales Up

 Florida Realtors chief economist: For the sixth straight month, closed sales rose for both single-family homes, up 3.9%, and condo-townhouses, up 8.6%.

ORLANDO, Fla. — In February, Florida’s housing market reported more closed sales and new pending sales compared to a year ago, while median prices continued to ease but at a slower pace, according to Florida Realtors®’ latest housing data.

“Florida’s housing market continued building momentum in February as we move toward the spring buying season,” said 2026 Florida Realtors President Chuck Bonfiglio, broker-owner of AAA Realty Group in Plantation. “Closed sales and pending sales both rose year-over-year, showing that buyers remain active across many parts of the state.

“As the market continues to stabilize, the guidance of a local Realtor® – backed by the market expertise and data Florida Realtors provides – can help buyers and sellers confidently navigate the complex process of buying or selling a home.”

Closed sales of single-family homes statewide last month totaled 18,379, up 3.9% compared to February 2025, while existing condo-townhouse sales totaled 7,060, up 8.6% year-over-year, according to data from Florida Realtors Research Department in partnership with local Realtor® boards/associations. Closed sales may occur from 30- to 90-plus days after sales contracts are written.

“Closed sales (for both single-family homes and condo-townhouse units) were up year-over-year for the sixth straight month, while median prices in both categories remained close to where they were a year ago,” said Florida Realtors Chief Economist Dr. Brad O’Connor.

The statewide median sales price for single-family existing homes last month was $412,000, down 0.7% from a year ago; for condo-townhouse units, it was $309,000, down 1.9% compared to February 2025. The median is the midpoint; half the homes sold for more, half for less.

O’Connor noted that while February’s closed sales growth was fairly similar to January’s data, the same couldn’t be said for the number of homes coming onto the market.

“New listings of single-family homes in February were significantly lower than they were in January,” he said. “While it's common for new listings to be lower in February than January, this year’s drop was unusually large. And if we compare last month’s new listings to the same month one year ago, they were down 9.5%. However, by historical standards, February’s new listings for single family homes were not low – it's more a case of new listings last year at this time being unusually high.

“The same could be said for condo and townhouse new listings in February – we returned to more normal levels. On a year-over-year basis, this was a decline of 15.2% but was very much in line with the number of new listings we had each February from 2019 through 2022.”

Last month, new pending sales increased year-over-year for both existing single-family homes, up 4%, and for condo-townhouse properties, up 9.1%.

Looking at this year’s market trends so far, O’Connor said, “A couple months into 2026, it looks like we’re in for a more normal level of listings coming on to the market with slightly improved numbers of pending sales, rather than a much higher level of both going into the spring. This is still progress for the market, which has at the very least bottomed out in terms of sales and is inching its way back upward.”

In February, the statewide supply of single-family existing homes was at a 4.8-months’ supply while existing condo-townhouse properties were at a 9.3-months’ supply last month.

To see the full statewide housing activity reports, go to the Florida Realtors Newsroom and look under Latest Releases or download the February 2026 data report PDFs under Market Data.

© 2026 Florida Realtors®

U.S. Home Prices Rise 1.8% in 2025

 Fourth-quarter FHFA data show home values increased year over year, with 41 states posting gains, though growth varied and was softer in parts of Florida.

WASHINGTON — U.S. house prices rose 1.8% between the fourth quarter of 2024 and the fourth quarter of 2025, according to the U.S. Federal Housing House Price Index (FHFA HPI). House prices for the fourth quarter of 2025 rose 0.8% compared to the third quarter of 2025. FHFA's seasonally adjusted monthly index for December rose 0.1% from November.

Nationally, the U.S. housing market has experienced positive annual appreciation each quarter since the start of 2012.

House prices rose in 41 states between the fourth quarter of 2024 and the fourth quarter of 2025. The five states with the highest annual appreciation were North Dakota, 6.4%; Delaware, 6.3%; Illinois, 6.1%; Wisconsin, 5.7%; and Michigan, 5.5%. House prices were down in nine states and the District of Columbia. Florida experienced the most significant price decline at 2.7%.

House prices rose in 66 of the 100 largest metropolitan areas over the previous four quarters. The annual price increase was the greatest in Allentown-Bethlehem-Easton, PA-NJ at 8.9%. The metropolitan area that experienced the most significant price decline was Cape Coral-Fort Myers, FL at 9.1%.

Six of the nine census divisions had positive house price changes year-over-year. The East North Central division recorded the strongest appreciation, posting a 5.0% increase from the fourth quarter of 2024 to the fourth quarter of 2025. The Mountain division recorded a 0.2% decline.

About the HPI

The FHFA House Price Index is a strong indicator of the health of conventional home values. It tracks changes in single-family home prices across the country, using sales data from loans backed by Fannie Mae and Freddie Mac. That means it only includes conventional loans that meet conforming loan limits, doesn’t include FHA, VA or other government-insured loans and only focuses on homes that qualify under those conforming caps.

The index measures price changes by looking at the same property over time. In other words, it compares what a house sold for before to what it sold for later. That helps show true appreciation or depreciation. It also does not capture luxury properties above loan limits or many lower-down-payment government loans.

Source: FHFA

© 2026 Florida Realtors®

The Home Sales Conundrum: Buyers Aren’t Moving

 By Melissa Dittmann Tracey

NAR research shows about 5.5 million more U.S. households can now qualify for a mortgage compared with a year ago due to lower rates. So, what’s holding buyers back?

WASHINGTON – Housing affordability is improving, but it’s not prompting a winter rush into the housing market. Pending home sales — a gauge of future home closings based on signed contracts — were essentially in a holding pattern in January, falling 0.8% compared to the prior month and by 0.4% year-over-year, according to the National Association of Realtors®’ newly released Pending Home Sales Index.

The weather has been blamed as one culprit for last month’s underwhelming sales numbers: Prolonged freezing temperatures and major winter storms swept across the country. But the Midwest, among those that faced severe winter weather, did still post the highest monthly increase in pending home sales nationwide in January, up 5%. The West was the only other region to post a monthly increase in contract signings last month, up 4.3%.

Overall, this winter’s housing market mostly has been subdued—a conundrum for a market that was starting to show easing conditions for home buyers.

“Improving affordability conditions have yet to induce more buying activity,” NAR’s Chief Economist Lawrence Yun says about the latest home sales numbers.

Yet, more hopeful buyers may want to take notice: With mortgage rates nearing 6%, an additional 5.5 million households now can qualify for a mortgage—those who couldn’t last year when rates were near 7%.

Still, “most newly qualifying households do not act immediately” when rates drop, Yun says. “But based on past experience, about 10% could enter the market—potentially adding roughly 550,000 new home buyers this year compared with last year.”

A Housing Supply Issue?

Homeowners don’t appear to be in a rush to sell this winter. Housing inventories for existing homes were down 0.8% in January compared to December and were only up by 3.4% compared to a year ago, backing off what were double-digit annual inventory gains last year.

But with millions more Americans now able to qualify for a mortgage following the recent dip in mortgage rates, a surge of buyers returning to the market might not be entirely positive.

“Unless housing supply increases, these additional potential buyers becoming active in the market could simply push up home prices,” Yun says. “This will put increasing pressure on affordability, which is why it is critical to increase supply by building more homes.”

Yun notes that the House of Representative’s recent passage of the Housing for the 21st Century Act may be one piece that could help with that. It’s “an important signal that addressing the nation’s housing shortage remains a shared priority,” he says about the bipartisan support the bill has gained. “The legislation is a meaningful step toward expanding housing supply and removing barriers that make it harder for Americans to achieve homeownership.”

Realtor.com has put the housing deficit in the U.S. at nearly 4 million, given population demands.

Meanwhile, home prices continue to rise nationwide, although the increases are slowing, and some markets are seeing prices soften. NAR reported that existing-home sales prices hit an all-time high in January, a median $396,800 nationally. Also, 73% percent of 230 U.S. metros continued to see home prices rise year-over-year during the final quarter of 2025, according to NAR’s latest quarterly housing report.

Homeowners are still seeing record amounts of equity: Since January 2020, the typical homeowner has accumulated $130,500 in housing wealth, NAR’s research shows.

10 Markets Where Pending Sales Rose in January

Despite the national drop in contract signings last month, not every housing market has been iced out of home sales this winter. According to Realtor.com® Economics, the following 10 markets saw the biggest annual gains in pending home sales in January:

• Phoenix-Mesa-Chandler, Ariz.: +11.8%
• Boston-Cambridge-Newton, Mass.-N.H.: +10.7%
• Charlotte-Concord-Gastonia, N.C.-S.C.: +10.7%
• San Francisco-Oakland-Fremont, Calif.: +8.9%
• Oklahoma City, Okla.: +8.7%
• St. Louis, Mo.-Ill.: +8%
• Virginia Beach-Chesapeake-Norfolk, Va.-N.C.: +7.6%
• San Diego-Chula Vista-Carlsbad, Calif.: +7.5%
• San Antonio-New Braunfels, Texas: +7.4%
• Miami-Fort Lauderdale-West Palm Beach, Fla.: +6.8%

© 2026 National Association of Realtors® (NAR)

January Shows Strong Start for Florida Housing

 By Marla Martin

Florida Realtors data show single-family sales up 5.9% and condos up 5.1% year over year, as new listings and pending sales rose in both categories.

ORLANDO, Fla. — Florida’s housing market started 2026 on an upswing, with more closed sales, more new pending sales and more new listings in January compared to a year ago, according to Florida Realtors®’ latest housing data.

“Florida’s housing market opened 2026 with solid momentum,” said 2026 Florida Realtors President Chuck Bonfiglio, broker-owner of AAA Realty Group in Plantation. “Closed sales and new listings are up, and pending sales saw a significant year-over-year jump – all encouraging signs for a sustainable market.

“Inventory is improving, especially for single-family homes, giving buyers more options while reinforcing the importance of pricing and preparation for sellers. In a shifting market, working with a knowledgeable Realtor® makes all the difference.”

Closed sales of single-family homes statewide last month totaled 16,298, up 5.9% compared to January 2025, while existing condo-townhouse sales totaled 6,084, up 5.1% year-over-year, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations. Closed sales may occur from 30- to 90-plus days after sales contracts are written.

In January, the statewide median sales price for single-family existing homes was $405,000, down 1.2% from a year ago; for condo-townhouse units, it was $305,000, down 2.4% compared to January 2025. The median is the midpoint; half the homes sold for more, half for less.

“In addition to seeing more January closings across Florida than in recent years, we saw a lot more homes come onto the market, as well,” said Florida Realtors Chief Economist Dr. Brad O’Connor. “Our data only go back to 2008, but last year, January new listings were at an all-time high over that time span in both property type categories. As of now, though, the crown for most January new listings belongs to 2026. Looking at the single-family home category, new listings were up 7% compared to a year ago, while new listings of condos and townhouses were up by 2.7%. It’s a strong start, but it’s too early to draw definitive conclusions as to how this will carry over into the rest of the year.”

Last month, new pending sales increased year-over-year for both existing single-family homes, up 15.2%, and for condo-townhouse properties, up 16.9%.

O’Connor noted that January marked the sixth consecutive month for year-over-year increases in new pending sales in both property categories. “With buyers in a better position affordability-wise compared to a year ago, this year’s sellers may like what they see out there a little better than they did last year. These numbers are a good indication that a lot of sellers who listed even as recently as January have already found buyers this year.

“What’s important for the market overall is not so much how many people list their homes for sale so much as how many of those homes end up sitting for long periods of time without selling. Last year’s late surge in demand has carried over into January based on the new pending sales data, and if it persists, then many of these sellers are going to find buyers.”

The supply of single-family existing homes was at a 5.2-months’ supply while existing condo-townhouse properties were at a 9.7-months’ supply last month.

© 2026 Florida Realtors®

Billionaires keep buying homes in Miami. What's the market impact?

WLRN Public Media | By Tom Hudson

Published February 11, 2026 at 1:28 PM EST

Billionaires keep buying homes in Miami. What does that do to the housing market?

The founder of Facebook is the latest tech billionaire to buy a home in Florida. Meta CEO Mark Zuckerberg and his wife bought a home in the gated island community of Indian Creek, according to the Wall Street Journal.

Amazon’s Jeff Bezos is among those who have homes there. Both of Google’s two founders also appear to have recently made moves for homes in Miami — Larry Page has purchased property in Coconut Grove, while Sergey Brin reportedly has a purchase contract for a home on Allison Island in Miami Beach.

What do these multi-million dollar purchases by these billionaires tell us about the local housing market?

To put it simply: taxes and temperature. Florida continues to be a beneficiary of low taxes relative to other states like California where many of these tech executives are moving from — and pretty good weather.

These tech founders operate on a different level than most of us. It is not unusual for them to own several homes, oftentimes spending tens of millions of dollars for waterfront mansions here. With their riches, they probably aren't as sensitive to their property taxes or property insurance bills like the rest of us.

These deals make headlines because of the big prices and the big personalities of the buyers. They are just the latest evidence that the so-called wealth migration to South Florida is still happening. And it’s not just tech billionaires.

The Miami Association of Realtors found over 55,000 workers from out-of-state moved to South Florida in 2024. They were predominantly leaving California, New York and Texas.

And they came with bigger paychecks.

Floridians moving within Florida earned about $62,000 a year. The out-of-state workers moving to Florida earned a median paycheck of $101,000.

To put it another way — for every dollar earned by someone moving to Florida from out of state, a Floridian moving earned about 62 cents.

These higher paychecks added over $5 billion dollars in earnings to the region, according to the realtors group.

What has been the impact on the housing market?

Demand for single family homes has remained strong, especially for higher priced homes.

More than half of the money spent buying homes last year was spent on single family homes of at least $1 million dollars. That is a record high share of the market.

To some degree, that can be the result of the rising prices of single family homes across the region. After all, the median price of a home sold in December was over $600,000. Five years ago, it was closer to $400,000 dollars.

READ MORE: Florida relied on immigration for almost all of its population growth last year

Florida's population growth slowed considerably last year with fewer people moving here from someplace else in the U.S. and fewer people moving here from overseas. But — and this is key — the population kept growing. The impact of the slower growth on the housing market remains to be seen.

More granular population data is due from the Census Bureau in March which will include how populations of individual counties may have changed. Last year there were at least two forces at play with Florida's population trends: the increasingly affordability challenge, especially of housing, and the Trump administration’s immigration enforcement, including efforts to cancel Temporary Protected Status of tens of thousands of immigrants living in Florida.

But even if South Florida's population growth slows or stops, South Florida home building has not kept pace with past population growth.

In 2024, the region’s population was up by about 275,000 people. Only a little more than 16,000 building permits for privately owned housing units were issued.

President Trump recently signed an executive order banning large investors from buying single family homes. He said it was an effort to help affordability. However, the prevalence of corporate-owned homes is highly dependent on location.

The Government Accounting Office found institutional investors owned about 5% of single family homes for rent in Miami. They study was conducted in 2022. Those big investors made up a larger portion of the rental home market in Orlando, Tampa and Jacksonville.

Underpinning housing demand is the job market. The regional job market remains strong even as new job growth has slowed. The South Florida unemployment rate in December was 3.5% — one of the lowest among the largest metropolitan areas in the country.

Tom Hudson

Tom Hudson is WLRN's Senior Economics Editor and Special Correspondent.

See stories by Tom Hudson

U.S. Existing-Home Sales Down in January

 U.S. existing-home sales fell 8.4% in January, including a 9% drop in the South. Prices reached a January high and mortgage rates were lower than a year ago.

WASHINGTON — Existing-home sales decreased by 8.4% in January, according to the National Association of Realtors® Existing-Home Sales report. The report provides the real estate ecosystem – including agents, homebuyers and sellers – with data on the level of home sales, price and inventory.

Month-over-month and year-over-year sales fell in all regions.

“The decrease in sales is disappointing. The below-normal temperatures and above-normal precipitation this January make it harder than usual to assess the underlying driver of the decrease and determine if this month’s numbers are an aberration,” said NAR Chief Economist Dr. Lawrence Yun. “Affordability conditions are improving, with NAR’s Housing Affordability Index showing that housing is the most affordable it’s been since March 2022. This is due to wage gains outpacing home price growth and mortgage rates being lower than a year ago. However, supply has not kept pace and remains quite low.”

“Due to low supply, the median home price reached a new high for the month of January,” Yun added. “Homeowners are in a financially comfortable position as a result. Since January 2020, a typical homeowner would have accumulated $130,500 in housing wealth.”

Affordability improved for the seventh consecutive month, according to NAR’s Housing Affordability Index – increasing to 116.5 in January from 111.6 in December and 102 a year ago.

National snapshot

Total existing-home sales for January

• 8.4% decrease in existing-home sales month over month to a seasonally adjusted annual rate of 3.91 million.
• 4.4% decrease in sales year over year.

Inventory in January

• 1.22 million units: Total housing inventory, down 0.8% from December and up 3.4% from January 2025 (1.18 million).
• 3.7-month supply of unsold inventory, up from 3.5 months in December and one year ago.

Median sales price in January

• $396,800: Median existing-home price for all housing types, up 0.9% from one year ago ($393,400) – the 31st consecutive month of year-over-year price increases.

Housing affordability in January

The Housing Affordability Index rose to 116.5 in January, up from 111.6 in December 2025 (and 102.0 a year ago).

Affordability improved across all regions.

• Northeast +9%
• Midwest +12.2%
• South +15.2%
• West +17.1%

Single-family and condo/co-op sales

Single-family homes in January

• 9.0% decrease in sales month over month to a seasonally adjusted annual rate of 3.53 million, down 4.3% from January 2025.
• $400,300: Median home price, up 0.6% from last year.

Condominiums and co-ops in January

• 2.6% decrease in sales month over month to a seasonally adjusted annual rate of 380,000, down 5.0% from last year. 
• $364,600: Median price, up 3.8% from January 2025.

Regional snapshot for existing-home sales in January

Northeast

• 5.9% decrease in sales month over month to an annual rate of 480,000, down 4.0% year over year. 
• $505,400: Median price, up 5.8% from January 2025.

Midwest

• 7.1% decrease in sales month over month to an annual rate of 920,000, down 7.1% year over year.
• $295,400: Median price, up 2.3% from January 2025.

South

• 9.0% decrease in sales month over month to an annual rate of 1.81 million, down 1.6% year over year.
• $351,200: Median price, up 0.1% from January 2025.

West

• 10.3% decrease in sales month over month for an annual rate of 700,000, down 7.9% year over year.
• $600,400: Median price, down 1.4% from January 2025.

Realtors® Confidence Index for January

• 46 days: Median time on market for properties, up from 39 days last month and 41 days in January 2025.
• 31% of sales were first-time homebuyers, up from 29% in December and 28% one year ago.
• 27% of transactions were cash sales, down from 28% a month ago and 29% in January 2025.
• 16% of transactions were individual investors or second-home buyers, down from 18% last month and 17% one year ago.
• 2% of sales were distressed sales (foreclosures and short sales), unchanged from December and down from 3% in January 2025.

Mortgage rates

• 6.10%: The average 30-year fixed-rate mortgage in January, according to Freddie Mac, down from 6.19% in December and 6.96% one year ago.

© 2026 National Association of Realtors® (NAR)