The latest Zillow February 2026 Market Report shows early signs that the housing market could be thawing out as spring approaches.
In Miami, prices have fallen and inventory has dropped, yet sales are rising and rents are holding steady, highlighting continued interest in the market.
Miami
Typical home value: $470,075
Year‑over‑year price change: –3.9%
Inventory change: –5.2%
Sales change: +4.8%
Typical rent: $2,654
Rent change (month over month/year over year): +0.2% / +0.5%
Nationally, home values rose for the first time in seven months, with the Zillow Home Value Index (ZHVI) rising 0.1% month over month and 0.4% year over year. Meanwhile, existing home sales climbed 1.8% year over year.
Affordability continues to improve, with typical monthly mortgage payments down 7.7% from a year ago, translating to roughly $30,000 more in buying power for median households. Total active inventory grew by 5% year over year, offering buyers slightly more choice in a market that’s felt tight for much of the past three years.
The typical U.S. home value sits at $361,371, according to the report. During February, 1.2 million homes were on the market nationwide, and 239,910 sold, up 1.8% from a year ago and 13% from January. Homes on the market took an average of 28 days to go pending, four days longer than a year ago but 19 days shorter than in January.
“Zillow’s latest data suggests buyers and sellers are starting to regain confidence. Existing home sales rose from a year ago, providing an early glimmer of hope that the housing market has turned a corner after three years bouncing along the bottom,” said Mischa Fisher, chief economist at Zillow. “Buyers have more homes within reach to choose from to go along with these friendlier conditions. Lower mortgage rates will also encourage more homeowners who have felt locked in to sell as they will be better able to afford their next home.”