Central Ohio + U.S. Market Brief (Week Ending February 20, 2026)

Winter did what winter does: it slowed showings, delayed closings, and made everyone question why they live where water falls from the sky in crystal form. But underneath the weather noise, the market is doing something we haven’t seen in a while—acting more normal.

The headline this week

Mortgage rates slipped closer to 6% — and that matters.

Freddie Mac’s weekly survey shows the average 30-year fixed rate at 6.01% (Feb 19), down from 6.09% the week before, and the lowest weekly average since September 2022.

Why rates moved down:

• Inflation cooled in January: CPI came in at 2.4% year-over-year, and “core” CPI eased to 2.5%—the lowest core pace since early 2021.
• When inflation cools, investors usually accept lower yields on bonds, and mortgage rates often follow bond yields down. (They’re not married, but they are definitely dating.)
• You can see that in the 10-year Treasury sitting around ~4.08% recently.

The wrinkle: Today’s data flow also included a hotter-than-expected core PCE reading for December (a metric the Fed watches closely), which could limit how fast rates improve from here.

Central Ohio market insights (latest official snapshot)

Columbus REALTORS®’ most recent report (January 2026 data) shows Central Ohio is steady, even in the heart of winter:

• Closed sales: 1,504 (basically flat vs. 1,506 a year ago)
• New listings: 2,226 (+0.4% YoY)
• Pending sales: 2,152 (+5.5% YoY)
• Homes for sale (inventory): 4,164 (+7.2% YoY)
• Months of supply: 1.7 months (still seller-leaning, but improving)
• Median sale price: $319,900 (+6.7% YoY)
• Median days on market: 48 (+11.6% YoY)

What that means locally (plain English)

• More homes for sale + longer days on market = buyers are getting a little breathing room.
• Prices are still rising because Central Ohio demand is holding up and supply is still tight (1.7 months is not “balanced”—it’s still competitive).
• Pending sales up suggests activity is building under the surface heading toward spring.

Possible reasons we’re seeing these shifts:

• Weather volatility (winter storms = fewer showings + delayed inspections/closings).
• Rates near 6% are helping some buyers re-enter—but affordability is still a hurdle.
• Sellers are testing the market earlier than usual, but buyers are less willing to overpay when they have options.

Ohio statewide snapshot (context for Central Ohio)

Ohio REALTORS® reports January 2026 statewide numbers showing a familiar pattern: sales cooled, prices rose, inventory improved.

• Closed sales: 6,539 (-7.6% YoY)
• Median sales price: $247,000 (+7.4% YoY)
• Active listings: 28,275 (+2.7% YoY)
• Months of supply: 2.69 (up slightly, still seller-leaning)

National real estate signals (why they matter here)

Even if we live and work local, national trends still tug the rope:

Existing-home sales pulled back

NAR reported January existing-home sales down 8.4% to an annualized 3.91 million pace.

Pending contracts also softened nationally

Pending home sales slipped 0.8% in January, and the index hit 70.9.

Translation: buyers are still cautious, and supply is still a limiter in many markets.

New homes: sales dipped, but prices stayed firm

December new home sales fell 1.7%, while the median new home price rose year-over-year.

Notable real estate news this week

Investor policy proposal is back in the spotlight

The White House proposed restricting large investors (those owning 100+ single-family homes) from buying more, aiming to reduce competition for individual buyers—though it’s still a proposal and faces political hurdles.

Builder sentiment remains cautious

NAHB reports builder sentiment edged lower, and 36% of builders cut prices in February (average cut still about 6%), with incentives widely used.

What I’m watching next week (the “look ahead”)

Here’s what could move the market over the coming week:

• Rates: likely to hover near 6% unless we get surprises in inflation, jobs, or Fed messaging. Freddie Mac’s next weekly update will tell us if this dip sticks.
• Economic tone: Fed speakers are signaling policy is “well positioned,” which usually reads as “we’re not in a hurry.”
• Housing data: more housing releases continue to shape expectations for spring momentum (and rate direction).

Central Ohio practical expectation:
As we move toward late February and early March, we typically see new listings pick up and competition intensify on the best homes—especially in move-in-ready price points.

Quick takeaways for buyers and sellers (Central Ohio)

Buyers

• You have more choices than last year, and homes are taking longer—use that to negotiate on price, repairs, or closing costs (especially if a home is past the first weekend).
• With rates near 6%, shopping lenders still matters—tiny differences compound fast over 30 years.

Sellers

• Pricing has to match condition and competition. With inventory up and days on market longer, buyers are less forgiving of “wishful thinking” pricing.
• The good news: prices are still up year-over-year, so well-prepared homes can absolutely win—just don’t rely on 2021 tactics in a 2026 market.