Existing home sales in the United States rose slightly in February 2026, supported by declining mortgage interest rates and slower price growth, which improved housing affordability. According to the National Association of Realtors, sales recorded a monthly increase of 1.7%, although they remained 1.4% lower compared with the same period last year.
With the arrival of spring, the outlook for the housing market appears more positive thanks to lower interest rates and improved purchasing power. Chief economist Lawrence Yun noted that the drop in rates saves buyers around $2,000 annually by reducing monthly mortgage payments.
The decline in borrowing costs has also enabled an additional 5.5 million households to qualify for mortgage loans, including about 1.6 million renters who may enter the market as first-time buyers.
The share of first-time buyers increased to 34% of total sales last month, compared with 31% a year earlier, reflecting a modest recovery in the market following a winter slowdown.
