Existing-home sales declined during the month of February, dropping 1.4% year-over-year to a seasonally adjusted annual rate of 4.09 million units.
Key National Highlights:
- Median home price climbed to $398,000, up 0.3% year-over-year — marking 32 consecutive months of annual price increases.
- Single-family homes saw prices rising by 0.2% to $401,800; condo/townhome prices increased 0.9% to $358,100.
- Inventory increased 4.9% year-over-year to 1.29 million homes, equivalent to a 3.8-month supply at the current sales pace.
- Days on market extended to 47 days (vs. 42 days last February)
- Investors and second-home buyers accounted for 16% of purchases.
- Distressed sales (foreclosures and short sales) remained negligible at just 3% of transactions.
Bottom line: Existing-home sales show a modest 1.7% month-over-month increase to 4.09 million units, with median prices up slightly to $398,000 and improved affordability from lower mortgage rates boosting first-time buyers. However, year-over-year sales remain down, inventory growth stays sluggish, and overall market recovery remains constrained by persistent low supply.
The Florida Housing Market
Florida’s housing market in February 2026 showed positive momentum according to Florida Realtors, with statewide closed sales rising year over year for the sixth straight month.
Single family home sales increased 3.9% to 18,379 units and condo-townhouse sales rose 8.6% to 7,060 units, while new pending sales grew 4% for single family homes and 9.1% for condos, signaling sustained buyer activity.
Median prices continued to ease but at a slower pace, new listings declined, and inventory trends suggest the market is stabilizing with buyers responding to improved conditions.
Closed Sales
In February, Florida’s existing-home market showed continued resilience with 26,685 statewide closed sales, reflecting a year-over-year 5.4% uptick driven by gains in both single-family homes and condo-townhouse units.
The luxury segment remained a standout performer, with properties priced at $1 million and above experiencing strong demand (up 16.9% year-over-year) and driving continued strength in the state’s premium markets.
Median Sales Prices
Florida’s median home price has demonstrated remarkable stability since mid-2023, holding within a tight range even as mortgage rates fluctuated and seasonal demand patterns shifted.
In February 2026, the statewide median for single-family existing homes eased modestly by 0.7% year over year to $412,000 (with condos down 1.9% to $309,000), marking continued but slowing softening for the 14th consecutive month.
Meanwhile, the luxury segment, homes priced at $1 million and above, saw a solid 4.3 percent year over year increase in sale prices, highlighting how greater overall supply and a steadier sales pace are fostering better balance across Florida’s diverse housing market segments.
Active Inventory
Florida’s active housing inventory peaked above 200,000 listings in spring 2025 before starting a gradual decline through late 2025 and into early 2026.
After a small increase in January 2026, statewide active listings dropped 7.4 percent in February to 181,158 units, reflecting fewer new listings and signs that the long supply buildup may be easing as the market moves toward balance.
Luxury inventory for properties priced over $1 million also fell 5.4 percent to 26,285 units during the month, showing how reduced supply at higher price levels, along with steadier buyer demand, is helping create a more balanced housing environment across Florida.
The South Florida Housing Market
In February 2026, South Florida’s housing market showed mixed but mostly encouraging signals, with closed sales and dollar volume rising while median prices and new listings dipped slightly.
Closed sales in the tri-county region (Miami-Dade, Broward, and Palm Beach) increased about 6.1 percent year over year, pushing total dollar volume up 10 percent to $4.6 billion, even as the median price for all property types eased modestly to $515,000.
Active inventory also fell 5.7 percent from the prior February to 46,833 listings, reflecting lower new supply and supporting steadier market conditions overall. This blend of stronger sales activity, softening prices, and tighter inventory indicates gradual stabilization in the region.
The Greater Orlando Housing Market
In February 2026, the greater Orlando housing market exhibited mild year-over-year softening across most key indicators, reflecting a cooling yet increasingly balanced environment.
Closed sales dipped 0.8 percent to 2,644 units, the median sale price eased 1.3 percent to $394,900, and active inventory fell 1.7 percent to 14,739 listings, while total dollar volume declined 3.1 percent to $1.3 billion.
New listings saw a more pronounced drop of 8.9 percent to 4,441, signaling a slowdown in fresh supply coming to market, but new pending sales rose modestly by 2.7 percent to 3,333, suggesting that buyer interest remains resilient despite the softer metrics.
This combination of declining inventory and listings alongside steady pending activity points to a market gradually shifting toward greater equilibrium, with reduced pressure on prices and potential for steadier momentum in the coming months.
The Tampa Bay Housing Market
In February 2026, the Tampa-St. Petersburg-Clearwater MSA housing market (all property types) presented a mixed picture year over year, with closed sales declining notably while median prices and dollar volume showed gains amid a nearly flat inventory level.
Closed sales fell 8.2 percent to 3,743 units, but the median sale price rose 2.2 percent to $371,000, total dollar volume increased 2.5 percent to $1.9 billion, and active inventory edged up just 0.2 percent to 20,591 listings.
New listings dropped sharply by 10 percent to 6,297, contributing to reduced fresh supply, while new pending sales decreased 4.8 percent to 4,823, indicating some softening in forward-looking buyer commitments despite the price resilience.
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