{"id":84025,"date":"2026-02-19T05:00:52","date_gmt":"2026-02-19T13:00:52","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=84025"},"modified":"2026-03-25T14:45:21","modified_gmt":"2026-03-25T21:45:21","slug":"housing-market-update-pending-sales-fall-slow-winter","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/housing-market-update-pending-sales-fall-slow-winter\/","title":{"rendered":"Pending U.S. Home Sales Fall 6% As Would-Be Buyers Sit Out Slow Winter Market"},"content":{"rendered":"

The typical home is taking 67 days to go under contract, the longest span in seven years.\u00a0<\/i><\/strong><\/p>\n

U.S pending home sales fell 5.8% from a year earlier during the four weeks ending February 15, the biggest decline in a year. The typical home that does go under contract is taking 67 days to do so\u2013a week longer than last year and the longest span since early 2019.\u00a0<\/span><\/p>\n

Would-be buyers are sitting on the sidelines largely because it\u2019s expensive to purchase a home. The median home-sale price rose 1.1% year over year, the biggest uptick in two months, and the weekly average mortgage rate is 6.09%\u2013near the lowest level in three years, but double pandemic-era lows. The median monthly mortgage payment is $2,601, down 2.9% from a year ago, but only about $200 shy of the all-time high.\u00a0<\/span><\/p>\n

Additionally, <\/span>severe winter weather<\/span><\/a> across much of the country kept house hunters at home over the last several weeks. And some prospective buyers are wary due to economic uncertainty, especially for <\/span>lower-income Americans<\/span><\/a>. But there are recent signals painting a more positive picture of the economy: The most recent <\/span>jobs<\/span><\/a> report was stronger than expected, and <\/span>inflation<\/span><\/a> is easing.<\/span><\/p>\n

On the selling side, new listings dropped 3.1% year over year and the <\/span>total <\/span><\/i>number of homes for sale fell 1.5%, the second straight decline after roughly two years of increases. Potential sellers are backing off because they\u2019re noticing that demand is tepid; many only want to sell for top dollar.\u00a0<\/span><\/p>\n

\u201cThere are a few things keeping buyers at home, like snowy weather and 6%-plus mortgage rates,\u201d said <\/span>Aaron Glicken<\/span><\/a>, a Redfin Premier agent in <\/span>Nashville, TN<\/span><\/a>. \u201cBut for the house hunters who are venturing out, it\u2019s the <\/span>strongest buyer\u2019s market<\/span><\/a> I can remember. Buyers are able to be picky, ask for concessions, and come in below asking price. Some sellers won\u2019t budge because they bought at the height of the market a few years ago and prices have corrected a bit. But some need to offload their homes\u2013and in those cases, buyers have leverage. I\u2019m advising buyers who are serious about moving to take advantage of the slow market; it should pick up in the spring, especially if rates come down.\u201d <\/span><\/p>\n

For Redfin economists\u2019 takes on the housing market, please visit Redfin\u2019s \u201c<\/span><\/i>From Our Economists<\/span><\/i><\/a>\u201d page.\u00a0<\/span><\/i><\/p>\n

Leading indicators\u00a0<\/b><\/h3>\n

 <\/p>\n\n\n\n\n\n\n\n\n\n\n
Indicators of homebuying demand and activity<\/b><\/td>\n<\/tr>\n
<\/td>\nValue (if applicable)<\/b><\/td>\nRecent change<\/b><\/td>\nYear-over-year change<\/b><\/td>\nSource<\/b><\/td>\n<\/tr>\n
Daily average 30-year fixed mortgage rate<\/b><\/td>\n6.05% (Feb. 18)<\/span><\/td>\nNear 3-year low<\/span><\/td>\nDown from 7.01%<\/span><\/td>\nMortgage News Daily\u00a0<\/span><\/a><\/td>\n<\/tr>\n
Weekly average 30-year fixed mortgage rate<\/b><\/td>\n6.09% (week ending Feb. 12)<\/span><\/td>\nNear 3-year low<\/span><\/td>\nDown from 6.87%<\/span><\/td>\nFreddie Mac<\/span><\/a><\/td>\n<\/tr>\n
Mortgage-purchase applications (seasonally adjusted)<\/b><\/td>\n<\/td>\nDown 3% from a week earlier (as of week ending Feb. 13)<\/span><\/td>\nUp 8%<\/span><\/td>\nMortgage Bankers Association<\/span><\/a>\u00a0<\/span><\/td>\n<\/tr>\n
Redfin Homebuyer Demand Index (seasonally adjusted)<\/b><\/td>\n<\/td>\nDown about 1%\u00a0 from a month earlier (as of week ending Feb. 15)<\/span><\/td>\nDown 10%<\/span><\/td>\nA measure of tours and other homebuying services from Redfin agents<\/span><\/td>\n<\/tr>\n
Google searches of \u201chomes for sale\u201d<\/b><\/td>\n<\/td>\nDown about 4% from a month earlier (as of Feb. 14)<\/span><\/td>\nEssentially unchanged<\/span><\/td>\nGoogle Trends<\/span><\/a><\/td>\n<\/tr>\n
Touring activity<\/b><\/td>\n<\/td>\nUp 3% from the start of the year (as of Feb. 16)<\/span><\/td>\nAt this time last year, it was up 11% from the start of 2025<\/span><\/td>\nShowingTime<\/span><\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Key housing-market data<\/b><\/h3>\n

 <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
U.S. highlights: Four weeks ending Feb. 15, 2026<\/b><\/p>\n

Redfin\u2019s national metrics include data from 400+ U.S. metro areas and are based on homes listed and\/or sold during the period. Weekly housing-market data goes back through 2015. Subject to revision.\u00a0<\/span><\/i><\/td>\n<\/tr>\n

<\/td>\nFour weeks ending Feb. 15, 2026<\/b><\/td>\nYear-over-year change<\/b><\/td>\nNotes<\/b><\/td>\n<\/tr>\n
Median sale price<\/b><\/td>\n$379,176<\/span><\/td>\n1.1%<\/span><\/td>\n<\/td>\n<\/tr>\n
Median asking price<\/b><\/td>\n$412,735<\/span><\/td>\n3.3%<\/span><\/td>\n<\/td>\n<\/tr>\n
Median monthly mortgage payment<\/b><\/td>\n$2,601at a 6.09% mortgage rate<\/span><\/td>\n-2.9%<\/span><\/td>\n<\/td>\n<\/tr>\n
Pending sales<\/b><\/td>\n70,206<\/span><\/td>\n-5.8%<\/span><\/td>\nBiggest decline since Jan. 2025<\/span><\/td>\n<\/tr>\n
New listings<\/b><\/td>\n78,635<\/span><\/td>\n-3.1%<\/span><\/td>\n<\/td>\n<\/tr>\n
Active listings<\/b><\/td>\n997,176<\/span><\/td>\n-3.2%<\/span><\/td>\nBiggest decline since Nov. 2023<\/span><\/td>\n<\/tr>\n
Months of supply\u00a0<\/b><\/td>\n5.6<\/span><\/td>\n+0.4 pts.\u00a0<\/span><\/td>\n4 to 5 <\/span>months of supply<\/span><\/a> is considered balanced, with a lower number indicating seller\u2019s market conditions\u00a0<\/span><\/td>\n<\/tr>\n
Share of homes off market in two weeks\u00a0<\/b><\/td>\n30.7%<\/span><\/td>\nEssentially unchanged<\/span><\/td>\n<\/td>\n<\/tr>\n
Median days on market<\/b><\/td>\n67<\/span><\/td>\n+7 days<\/span><\/td>\nLongest in nearly 7 years<\/span><\/td>\n<\/tr>\n
Share of homes sold above list price<\/b><\/td>\n19.3%<\/span><\/td>\nDown from 21%<\/span><\/td>\n<\/td>\n<\/tr>\n
Average sale-to-list price ratio\u00a0<\/b><\/td>\n97.8%<\/span><\/td>\nDown from 98%<\/span><\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n
\n

Metro-level highlights: Four weeks ending Feb. 15, 2026<\/b><\/p>\n

Redfin\u2019s metro-level data includes the 50 most populous U.S. metros. Select metros may be excluded from time to time to ensure data accuracy.\u00a0<\/span><\/i><\/p>\n<\/th>\n<\/tr>\n

<\/th>\nMetros with biggest year-over-year increases<\/b><\/th>\nMetros with biggest year-over-year decreases<\/b><\/th>\n\n

Notes<\/b><\/p>\n<\/th>\n<\/tr>\n

Median sale price<\/b><\/th>\nMilwaukee (10.4%)<\/span><\/p>\n

Warren, MI (6.9%)<\/span><\/p>\n

San Francisco (5.9%)<\/span><\/p>\n

Columbus, OH (5.7%)<\/span><\/p>\n

Philadelphia (5.5%)<\/span><\/th>\n

Dallas (-3.7%)<\/span><\/p>\n

San Jose, CA (-3.6%)<\/span><\/p>\n

Fort Lauderdale, FL (-3.4%)<\/span><\/p>\n

Oakland, CA (-3.2%)<\/span><\/p>\n

San Antonio (-2.9%)<\/span><\/th>\n

\n

Declined in 20 metros<\/span><\/p>\n<\/th>\n<\/tr>\n<\/thead>\n

Pending sales<\/b><\/td>\nWest Palm Beach, FL (10.2%)<\/span><\/p>\n

Jacksonville, FL (5.9%)<\/span><\/p>\n

Portland, OR (1.7%)<\/span><\/p>\n

Denver (1%)<\/span><\/p>\n

Sacramento, CA (0.9%)<\/span><\/td>\n

Oakland, CA (-24.1%)<\/span><\/p>\n

Nashville, TN (-18.3%)<\/span><\/p>\n

Houston (-16.7%)<\/span><\/p>\n

Nassau County, NY (-15.9%)<\/span><\/p>\n

Minneapolis (-15.5%)<\/span><\/td>\n

Increased in 7 metros<\/span><\/td>\n<\/tr>\n
New listings<\/b><\/td>\nSan Jose, CA (20.8%)<\/span><\/p>\n

Seattle (12.1%)<\/span><\/p>\n

Portland, OR (8.8%)<\/span><\/p>\n

Phoenix (8.5%)<\/span><\/p>\n

Denver (7.1%)<\/span><\/td>\n

Nassau County, NY (-21.8%)<\/span><\/p>\n

Nashville, TN (-19.8%)<\/span><\/p>\n

Indianapolis (-16%)<\/span><\/p>\n

Dallas (-13.6%)<\/span><\/p>\n

Philadelphia (-12.2%)<\/span><\/td>\n

<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Refer to our<\/span> metrics definition page<\/span><\/a> for explanations of all the metrics used in this report.<\/span><\/p>\n

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\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

The typical home is taking 67 days to go under contract, the longest span in seven years.\u00a0 U.S pending home sales fell 5.8% from a year earlier during the four weeks ending February 15, the biggest decline in a year. The typical home that does go under contract is taking 67 days to do so\u2013a 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