The median house sales price in February 2026 was essentially unchanged year over year (+.2%), as was the number of home sales. The supply of listings for sale rose 2.4% from January and 4.9% year over year; median time on market until acceptance of offer was 47 days (up from 42 days); and approximately 14% of sales sold over list price (down from 21%). 20% of buyers waived their inspection contingency (down from 24% last year); 8% of contracts had delays in close of escrow due to appraisal issues (up from 7%); and 6% of contracts in the last 3 months were terminated before close of escrow (up from 5%). An estimated 31% of listings sold for all cash.

In most of the country, real estate markets were still waking up in February from the mid-winter lull and often dealing with challenging weather conditions. There were increases from January in the numbers of homes for sale and of listings going into contract, but the more substantial rebound in new listings and buyer demand typically begins in March – and then accelerates moving deeper into spring. Last year, this dynamic was upended by April’s tariff shock, which among other impacts caused the S&P 500 and Nasdaq to plunge over 12% in one week, and the usual spring-market momentum was mostly lost.

This year, the wild card is the possible effects the Iran war may have on inflation, interest rates, financial markets and consumer confidence. As of March 10th, there is substantial political/economic uncertainty, but the situation may resolve itself relatively quickly, with little impact on housing markets. For the time being, the oil price is gyrating – on 3/9/26 it ranged from $81/barrel to $119 – stock markets are volatile, inflation in February was subdued, and mortgage interest rates remain near multi-year lows.

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