The late-January snowstorm that blanketed massive parts of the U.S. is now clearly seen in nationwide housing information. After displaying solely delicate results the prior week, housing exercise pulled again throughout a number of key metrics, led by new listings and pending gross sales.
Even so, the broader market image stays intact. Stock progress is slowing, the share of properties with value cuts continues to enhance yr over yr, and the Market Motion Index (MAI) stays seller-leaning nationally, supported by mortgage charges holding close to 6%.
“I used to be amazed that the final Housing Market Tracker didn’t present a lot drama from the epic late-January snowstorm that impacted a lot of the U.S., however immediately’s tracker information received hit for positive. Nevertheless, the housing market will probably be again in full power once more quickly.”
Nationwide market snapshot
Key metrics as of Feb. 6, 2026 (single-family properties)
- Median record value: $420,000 (up $1 week over week)
- New listings median value: $425,000 (up $15,100 week over week)
- Common days on market: 91 (unchanged)
- Energetic stock: 687,697 properties (down 1.2% week over week)
- Months of provide: 2.5 months
- Worth per sq. foot: $210 (up from $209)
- Properties with value cuts: 32.2% (down from 32.7%)
- Properties with value will increase: 2.3% (flat)
- Relisted properties: 11.0% (up from 10.8%)
- Market Motion Index: 35.9 (up from 34.0)
Listings and contracts mirror timing disruption
The storm’s affect is most seen in new listings and pending gross sales — the 2 metrics that have a tendency to maneuver first when climate disrupts showings, inspections and vendor timing selections.
New listings fell to 48,365, down 10.2% yr over yr from 53,861. As a result of new listings characterize the cleanest real-time provide sign, the tempo of restoration over the following a number of weeks will probably be vital for shaping early spring stock ranges. A fast rebound would affirm a weather-driven pause. A protracted decline would tighten provide heading into peak season.
Pending residence gross sales declined to 54,255, down 5.7% yr over yr. Since pending contracts sometimes convert to closings with a 30- to 60-day lag, this week’s softness is prone to affect March and April transaction quantity. The path of mortgage charges will decide whether or not that dip proves short-term or extends additional.
Stock progress continues to decelerate
Energetic stock declined from 696,222 to 687,697 properties, a 1.2% week-over-week drop. On a year-over-year foundation, stock is up 8.8%, a pointy slowdown from the roughly 33% progress peak recorded in 2025.
The deceleration in stock progress modifications the availability narrative heading into spring. As year-over-year comparisons turn out to be harder within the coming months, even modest itemizing progress may produce tighter market situations than many anticipated late final yr.
“Stock progress, which peaked at 33% in 2025, is now beneath 9% yr over yr. The year-over-year comps will get tougher as we head into spring.”
Pricing alerts stay agency
Regardless of slower weekly exercise, pricing metrics continued to enhance. Properties with value cuts accounted for 32.2% of listings, beneath final yr’s stage of 33.0%, extending a development of adverse year-over-year price-cut information. On the similar time, the MAI rose to 35.9, reinforcing seller-leaning nationwide situations.
The mixture of moderating stock progress and bettering price-cut share signifies that offer and demand stay comparatively balanced beneath the short-term volatility. Mortgage charges close to 6% proceed to offer a stabilizing impact.
Regional markets present various levels of resilience
Snow Belt metros
New York metro
- Stock: 12,222 (down 3.2% week over week, up 0.3% yr over yr)
- New listings: 1,148 (up 8.0% week over week, down 22.2% yr over yr)
- MAI: 43.3
- Worth cuts: 18.8%
Chicago metro
- Stock: 7,672 (down 1.1% week over week, down 3.0% yr over yr)
- New listings: 789 (up 19.0% week over week, down 9.0% yr over yr)
- MAI: 43.1
- Worth cuts: 26.2%
Detroit metro
- Stock: 6,605 (down 2.2% week over week, up 20.6% yr over yr)
- New listings: 573 (up 11.0% week over week, up 8.1% yr over yr)
- MAI: 45.0
A number of northern metros proceed to indicate robust seller-leaning situations and comparatively low price-cut shares, indicating sustained purchaser competitors regardless of weather-driven volatility.
Southern markets
Houston
- Stock: 31,347 (up 0.1% week over week, up 16.9% yr over yr)
- New listings: 1,882 (up 14.3% week over week, down 0.6% yr over yr)
- MAI: 29.1
Dallas-Fort Price
- Stock: 23,909 (down 1.0% week over week, up 3.5% yr over yr)
- New listings: 1,394 (down 1.5% week over week, down 26.1% yr over yr)
- MAI: 33.6
Miami
- Stock: 15,167 (down 0.9% week over week, down 3.1% yr over yr)
- New listings: 1,096 (down 3.5% week over week, down 13.5% yr over yr)
- MAI: 35.0
Southern markets stay extra balanced total, with increased stock ranges in some metros creating higher pricing sensitivity in comparison with tighter northern markets.
State-level traits
- Texas leads the nation in stock with 117,049 properties however noticed a ten.9% year-over-year decline in new listings.
- Florida, the second-largest stock state with 92,312 properties, recorded a ten.8% year-over-year drop in new listings.
- California continues to submit robust vendor situations (MAI 46.7) and one of many lowest major-state price-cut charges (24.6%).
Outlook heading into spring
The late-January snowstorm clearly disrupted weekly exercise, significantly in listings and contracts. Nevertheless, slowing stock progress, bettering price-cut share and regular mortgage charges counsel the underlying construction of the housing market stays steady.
The tempo at which new listings recuperate will decide whether or not this episode registers as a short winter interruption or the start of a extra constrained spring provide setting.
For deeper context on charges, demand alerts and the macro backdrop shaping early-2026 housing exercise, learn HousingWire’s Housing Market Tracker weekly evaluation. HousingWire used HW Knowledge to supply this story. This text relies on single-family residence information via Feb. 6, 2026. The Market Motion Index (MAI) measures the steadiness between provide and demand, with increased readings indicating stronger vendor leverage. To see what’s taking place in your personal native market, generate housing market studies. For enterprise shoppers seeking to license the identical market information at a bigger scale, go to HW Knowledge.
