Existing home sales just delivered one of the clearest signals yet about the true state of the housing market in 2026, and it is not the rebound narrative the mainstream keeps promoting. The latest data shows that existing-home sales fell 8.4% in January to a seasonally adjusted annual rate of just 3.91 million units, the steepest monthly decline in nearly four years and the slowest pace in over two years. Sales were also down 4.4% compared to the same month last year, and declines occurred across every region of the United States.
The median existing-home price rose to $396,800, marking the 31st consecutive month of year-over-year price…
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