How Geography is Splitting the Spring Housing Market

Updated April 22, 2026

Share this article

How geography is splitting the spring housing market

How geography is splitting the spring housing market. The spring market is improving, but not in the same way everywhere. Realtor.com’s February housing data shows that active listings in the South (-0.6%) and West (+1.1%) are now roughly back to pre-pandemic norms, while the Midwest (-39.5%) and Northeast (-56.8%) remain much tighter. In other words, buyers in some parts of the country are starting to see more choice, while others are still shopping in markets defined by scarcity, even as year-over-year inventory increases across all four regions.
Pending sales point to the same divide. The National Association of REALTORS® reported that February contract signings were down 12.1% year over year in the Northeast and 0.1% in the Midwest, but up 1.2% in the South and 3.2% in the West. National housing headlines still matter, but this spring, the local story looks very different depending on where you are.

Sources: Realtor.com February 2026 Monthly Housing Report, NAR Pending Home Sales Report, February 2026