NAR: U.S. Existing-Home Sales Fell 8.4% in January; Northeast Home Sales Declined 5.9% Last Month
Real Estate In-Depth • February 12, 2026
WASHINGTON—Existing-home sales decreased by 8.4% in January, according to the National Association of Realtors Existing-Home Sales report released earlier today. 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
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The Housing Affordability Index rose to 116.5 in January, up from 111.6 in December 2025 (and 102.0 a year ago).
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Affordability improved across all regions.
Northeast +9%
Midwest +12.2%
South +15.2%
West +17.1%
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.
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.
“Despite the small monthly gain on a seasonally adjusted basis, August and September marked the two slowest months for home sales this year,” said NAR Chief Economist Lawrence Yun.
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