US Home Prices Were Nearly Flat in February as Large Markets Split Evenly Between Gains and Declines
MWN-AI** Summary
In February 2026, U.S. home prices exhibited minimal movement, increasing just 0.2% year-over-year to a median price of $375,885. This stagnation reflects the housing market’s gradual shift from the extreme highs of the early 2020s, according to a recent report by Homes.com. The data revealed an even split among the 40 large markets analyzed, with 19 experiencing price increases and 19 seeing declines.
The report highlights a trend towards normalization within the market. Brad Case, Chief Residential Economist at Homes.com, noted that while some areas are maintaining price growth due to affordability and constrained supply, others are beginning to see slight decreases. Notably, markets in the Midwest, such as St. Louis (up 8.1%) and Chicago (up 4.5%), reported significant gains, while coastal markets like San Francisco also experienced a rise due to limited inventory. Conversely, previously high-growth markets, including Denver (-4%) and Boston (-3.7%), are experiencing modest pullbacks, indicating the evolving dynamics of affordability and demand.
Overall, February's pricing patterns demonstrated a balance rather than extremes. Factors like slowly rising inventory and longer selling times contributed to the flat national trend yet allowed for regional variations. This indicates a stabilization phase rather than market weakness. Early 2026 appears to cultivate one of the most balanced pricing environments in recent years, with the mixed performance across various locales serving as a testament to the intricate nature of today’s real estate landscape.
MWN-AI** Analysis
As of February 2026, U.S. home prices have demonstrated remarkable stability, with the national median reaching $375,885—indicative of a mere 0.2% increase year-over-year. This stagnation at a national level masks a dichotomy within major metropolitan areas, where half experienced price increases while the other half faced declines. This mixed performance reflects an essential normalization in the housing market following a prolonged period of rapid price appreciation.
Investors and potential homebuyers should take note of regional disparities. Notably, markets in the Midwest, such as St. Louis and Chicago, have sustained gains due to relative affordability and supply constraints in specific affluent areas like San Francisco. Conversely, previously high-growth markets—namely Denver, Austin, and Boston—are witnessing minor declines. These fluctuations could present opportunities for strategic buyers seeking to enter affordable markets or capitalize on pullbacks in once-hot locales.
The key takeaway is a balance emerging in the housing landscape, with a flattening of national appreciation suggesting a transition from extremes to a more sustainable pattern. Prospective homebuyers might find value in cities that are experiencing growth, while sellers in declining markets should remain vigilant and adjust prices to reflect changing conditions.
For investors, monitoring localized market conditions with a focus on inventory levels and affordability is crucial. The gradual rise in inventory and extended selling times could be indicative of a long-term shift toward balanced market dynamics, inviting a more cautious approach to pricing strategies and investment decisions.
In summary, February's data signals a stable, albeit divided housing market. Whether buying or selling, understanding regional trends and approaching with informed caution can help navigate this evolving landscape.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Homes.com analysis finds 19 large markets rising and 19 falling amid muted national price growth
Homes.com , a CoStar Group (NASDAQ: CSGP) leading online residential marketplace, released a new report today analyzing home price trends through February 2026, including details across major metros and house types.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260312247319/en/
U.S. Sale Prices Key Indicators
In February 2026, home prices in the U.S. showed almost no change year over year, as the housing market continued its gradual transition away from the overheated conditions of the early 2020s, according to the latest Homes.com data. The national median home price reached $375,885, just 0.2% higher than February 2025 and only 0.4% above January 2026.
Beneath that stable national number, price movement varied widely across the 40 large markets tracked by Homes.com, with an equal number experiencing increases and declines.
“The February data highlight a market that has settled into a more normal pattern, with prices holding close to where they were a year ago,” said Brad Case, Chief Residential Economist at Homes.com. “What stands out is the balance: Some markets are still seeing gains while others are giving back a little of their earlier run?up.”
Midwestern and select coastal markets led price gains
Four of the five largest increases were in relatively affordable markets—St. Louis at 8.1%, Baltimore at 4.9%, Chicago at 4.5%, and Kansas City at 3.7%—while supply constraints continued to drive prices higher in San Francisco at 5.3%. These patterns highlight the role of affordability in supporting steady price growth in Midwestern markets and the influence of tight for?sale supply in certain coastal markets.
Former high?growth markets posted modest price declines
Several markets that surged earlier in the decade are now experiencing modest pullbacks. Denver fell 4% from a year ago, Boston declined 3.7%, Austin decreased 3.5%, Sacramento slipped 3.1%, and Los Angeles edged down 2.2%. While these declines remain limited in size, they reflect a gradual rebalancing in markets where affordability pressures have been most intense.
The price landscape was defined by balance rather than extremes
Underlying housing?market indicators, such as gradually rising inventory and slightly longer selling times, help explain why the national trend is essentially flat. Those shifts did not produce a broad-based price correction, but they did contribute to local variation in price direction.
“Flat national appreciation can mean price gains in Chicago and Baltimore at the same time as price declines in Denver and Austin,” Case said. “That’s a sign of normalization, not weakness.”
Price stability remained the defining theme of early 2026.
February’s numbers point to a market characterized by stability rather than volatility. National appreciation is close to zero, regional patterns are mixed rather than uniform, and no large market is seeing severe upward or downward price movement. Early 2026 is shaping up to be one of the most balanced pricing environments in recent years.
About Homes.com
The Homes.com Network is the fastest-growing residential real estate marketplace and the second largest in the United States. Homes.com is a brand of CoStar Group (NASDAQ: CSGP), a global leader in commercial real estate information, analytics, and online marketplaces, which acquired the platform in 2021.
Homes.com is the first major U.S. real estate portal to focus first on helping homeowners and their agents leverage the marketing power of the internet to bring more potential buyers to their listings. Homes.com’s unparalleled content and search capabilities bring millions of buyers and sellers to the site where they can seamlessly connect with agents. On average, Homes.com’s Members are winning 60% more listings* because they offer the home sellers a real estate portal that works for them not against them.
The Homes.com Network reached an audience of 108 million average monthly unique visitors in 2025** Consumer brand awareness skyrocketed from 4% to 33% in just one year since CoStar Group launched the industry’s largest marketing campaign to date in February 2024, reintroducing the platform to the market. For more information, visit Homes.com.
*Based on internal analyses comparing Members to non-Members on Homes.com.
** Homes.com Network (which includes Homes.com, the Apartments Network, and the Land Network) average monthly unique visitors (108 million) for the year ended December 31, 2025, according to Google Analytics.
About CoStar Group
CoStar Group (NASDAQ: CSGP) is a global leader in commercial real estate information, analytics, online marketplaces, and 3D digital twin technology. Founded in 1986, CoStar Group is dedicated to digitizing the world’s real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives.
CoStar Group’s major brands include CoStar, a leading global provider of commercial real estate data, analytics, and news; LoopNet, the most trafficked commercial real estate marketplace; Apartments.com, the leading platform for apartment rentals; Homes.com, the fastest-growing residential real estate marketplace; and Domain, one of Australia’s leading property marketplaces. CoStar Group’s industry-leading brands also include Matterport, a leading spatial data company whose platform turns buildings into data to make every space more valuable and accessible, STR, a global leader in hospitality data and benchmarking; Ten-X, an online platform for commercial real estate auctions and negotiated bids; and OnTheMarket, a leading residential property portal in the United Kingdom.
CoStar Group’s websites attracted over 139 million average monthly unique visitors in the fourth quarter of 2025, serving clients around the world. Headquartered in Arlington, Virginia, CoStar Group is committed to transforming the real estate industry through innovative technology and comprehensive market intelligence. From time to time, we plan to utilize our corporate website as a channel of distribution for material company information. For more information, visit CoStarGroup.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260312247319/en/
Media Contact:
Matthew Blocher
CoStar Group
(202) 346-6775
mblocher@costar.com
FAQ**
How does CoStar Group Inc. CSGP's acquisition of Homes.com in 2021 influence current market trends, considering the recent report indicating mixed price movements across various large markets?
With 19 markets rising and 19 falling despite muted national price growth, what strategies does CoStar Group Inc. CSGP plan to implement to capitalize on these regional differences in the housing market?
Given that Homes.com has reached 108 million unique visitors monthly, how does CoStar Group Inc. CSGP intend to further leverage this traffic to benefit its members amidst a stable pricing environment?
What insights does CoStar Group Inc. CSGP’s Chief Residential Economist provide regarding the sustainability of the current price stability in the housing market, particularly with regards to inventory levels and selling times?
**MWN-AI FAQ is based on asking OpenAI questions about CoStar Group Inc. (NASDAQ: CSGP).
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