Housing Supply Overview
U.S. pending home sales fell 9.3% from the previous month, according to the National Association of REALTORS®. The drop in contract signings was broad-based, with all four regions reporting declines. On a year-over-year basis, pending home sales were down 3.0%, with the South recording a modest gain while the Northeast, West, and Midwest posted declines. For the 12-month period spanning February 2025 through January 2026, Pending Sales in the Western Upstate Association of REALTORS® region increased 4.6 percent overall. The price range with the largest pending sales gain was the $750,001 to $1,000,000 range, where sales increased 14.7 percent.
The overall Median Sales Price were up 2.0 percent to $310,990. The property type with the largest gain was the Single-Family Homes segment, where prices rose 2.9 percent to $319,000. The price range that tended to sell the quickest was the $150,000 and Below range at 62 days. The price range that tended to sell the slowest was the $1,000,001 and Above range at 93 days.
Market-wide, inventory levels rose 36.1 percent. The property type with the largest gain was the Single-Family Homes segment, where the number of properties for sale increased 37.4 percent. That amounts to 4.1 months of inventory for Single-Family Homes and 4.8 months of inventory for Condos.
Monthly Indicators
U.S. existing-home sales climbed 5.1% month-over-month and 1.4% year-over-year to a seasonally adjusted annual rate of 4.35 million units, the strongest pace in nearly three years, according to the National Association of REALTORS® (NAR). Lower mortgage rates and slower home price growth helped spur buyer activity, and sales increased month-over-month in every region. On an annual basis, sales rose in the South, held steady in the West and Midwest, and declined in the Northeast.
New Listings were down 12.6 percent to 646. Pending Sales decreased 34.9 percent to 317. Inventory grew 36.1 percent to 2,184 units.
Median Sales Price was up 6.6 percent to $319,900. Days on Market increased 31.1 percent to 97 days. Months Supply of Inventory was up 31.3 percent to 4.2 months.
Nationally, there were 1.18 million homes for sale heading into January, an 18.1% decline from the previous month but 3.5% higher compared to the same period last year, representing a 3.3-month supply at the current sales pace, according to NAR. Meanwhile, the median existing-home price rose 0.4% from a year ago to $405,400, reflecting a continued moderation in national price growth.
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