EXISTING-HOME SALES ON THE RISE IN FEBRUARY

via themortgagepoint.com—Existing-home sales rose by 1.7% month-over-month in February, according to the National Association of Realtors Existing-Home Sales Report.

“Housing affordability is improving, and consumers are responding,” said NAR Chief Economist Dr. Lawrence Yun. “Still, there is a long way to go to return to pre-pandemic levels of transaction activity. There are more than 6 million more jobs than in 2019, yet home sales per year are down by one million.”

NAR said the report provides the real estate ecosystem—including agents, homebuyers, and sellers—with data on the level of home sales, price, and inventory.

Month-over-month sales rose in the Midwest, South and West, and fell in the Northeast, according to the report, year-over-year sales rose in the South and fell in the Northeast, Midwest and West.

Meanwhile, affordability improved for the eighth consecutive month, according to NAR’s Housing Affordability Index—increasing to 117.6 in February from 117.1 in January and 103.1 a year ago.

That marks the highest level since March 2022, NAR reported.

Inventory Sluggish, But Growing

“Despite the modest gain in home sales, actual housing demand remains muted relative to wage growth and job gains,” Yun said. “Wage growth is now outpacing home price growth by almost four percentage points. Mortgage rates are also measurably lower compared to a year ago.”

“Inventory is growing, but sluggishly,” he added. “If demand picks up notably in the coming months and outpaces supply growth, home prices will inevitably rise. That is why increasing supply is so important to help limit home price growth, improve housing affordability, and boost transactions.”

Total Existing-Home Sales for February Analysts Comment on Report …READ MORE

The Current Miami Springs Market

This week there are thirty-five (35) active listings in the MS/VG markets. More than 50% of are priced over a million dollars. Of those, three (3) listings are over $2 million, and one is close to $4 million. High prices remain but I see demand picking up slowly.

I do expect a busy Spring buying/selling season. SELLERS, LIST NOW if you are thinking about selling! There are still qualified Buyers out there! More increases in inventory in the months ahead?? I think so.

Mortgage interest rates are now UNDER 6%! This decrease makes homes more affordable. Again, there are still qualified buyers looking for the right property. Timing is everything. Days on the market (DOM) are on average 72 days. Some houses sell quickly. It all depends on pricing, condition and location, location, location. The decrease in interest rates should result in increased sales activities. It is important to price the property right.

Inventory Breakdown:

There is one (1) property priced between $500,000-$600,000; three (3) properties are priced between $600,000-$700,000; seven (7) between $700,000-$800,000; four (4) between $800,000-$900,000; two (2) are priced between $900,000-$1,000,000; fourteen (14) between $1-2 million; three (3) are listed for over $2 million; and one (1) is listed for over $3million.

TIME TO BUY OR SELL? CALL US FOR AN EVALUATION

During the period of March 6, 2026 through March 13, 2026, there were reported 2 new listings, 2 closed sales, 0 pending sales, 3 active with contract, 1 expired listing, 1 cancelled listing, 1 temp off market, 2 price reductions, and 1 price increase.

HOW DOES YOUR HOUSE COMPARE?

The table below shows the current status of the Miami Springs/VG real estate market as of March 13, 2026. All closed sales are within the last 90 days.

*Disclaimer: The data relating to real estate displayed on this website and the chart above comes from the Miami Board of Realtors MLS. All listing information is deemed reliable but not guaranteed and can be independently verified.

 A complete list of all the properties for sale in Miami Springs or any other area of 

Miami-Dade County can be sent to you on regular basis. 

Request it at:  charlie@leonardrealestategroup.com

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