JUST IN: US home sales fell -8.4% in January, the largest monthly decline since Feb 2022.
— Hedgeye (@Hedgeye) February 12, 2026
Realtors have sounded the alarm over a potential “new housing crisis” after home sales fell by over 8 percent in January, the biggest monthly drop since 2022.
“Improving affordability should have brought more people to the market,” said Lawrence Yun, chief economist at the National Association of Realtors.
“The sentiment about the economy is not there, and of course home buying does require some degree of people’s comfort levels, confidence, to enter the market.”
“It’s still a buyer’s market, but it might not be for long,” added Sue Dhillon, a Redfin Premier agent in Seattle. “House hunters are getting a jump start on the spring selling season because they’re doing the math and realizing that a few things are working in their favor.”
https://www.independent.co.uk/us/money/realtors-home-sales-housing-crisis-b2919512.html
Per Grok: In February 2022, US existing-home sales dropped 7.2% from January, the largest monthly decline in a year. Key causes included rising mortgage rates (averaging 3.89% by month’s end), low inventory (1.7 months’ supply), and median prices surging 15% year-over-year to $357,300, making homes less affordable for buyers. Russia’s invasion of Ukraine on Feb 24 added economic uncertainty.
Based on recent reports from NAR, WSJ, and others, the 8.4% drop in Jan 2026 US existing home sales (to 3.91M units) stems from low inventory (1.22M units, 3.7 months supply), high median prices ($396,800, +0.9% YoY), mortgage rates around 6.1%, and economic worries like job security. Severe winter weather may have indirectly slowed activity, though sales reflect prior months’ contracts. Affordability is improving but remains a hurdle.