Pending home sales rise in February

Plus: A man uses ChatGPT to sell his Florida home without an agent

March 19, 2026

😊 Good morning! Let’s break down the latest in real estate, fast and simple.

Today's newsletter is 655 words — a 2.5-minute read.

1. Pending home sales rise in February

Pending sales of existing homes unexpectedly rose in February, marking the first increase in three months.

The Pending Home Sales Index increased 1.8% to 72.1, beating expectations of a 0.6% decline. However, contract signings were still down 0.8% compared to a year ago.

February’s pending sales, typically leading to closings in March or April, rose month over month in every region except the Northeast.

"The slight gain in pending contracts appears to be driven by improved affordability conditions," said NAR Chief Economist Dr. Lawrence Yun. "However, those conditions could reverse if higher oil prices lead to an uptick in mortgage rates."

2. Housing costs weigh more heavily on new homebuyers

New homebuyers are spending a significantly higher share of their income on housing than existing homeowners, and the gap is widening, according to an analysis by the Economic Innovation Group.

In 2024, the most recent year with available federal data, new homeowners—defined as those who purchased a home within the past year—spent nearly 27% of their income on housing. Existing homeowners, meanwhile, spent just 20%, near record lows.

The gap between the two groups is now the widest in at least 40 years.

Data: American Community Survey monthly homeownership costs via Economic Innovation Group

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3. Catch up quick

🧠 A man uses ChatGPT to sell his Florida home without an agent. (NBC)

📊 Fed votes to hold rates steady, notes 'uncertain' impacts from Iran war. (TheHill)

👴 Older Americans own more real estate wealth than ever. (Redfin)

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4. Zillow launches Zillow Preview to enhance listings

On Tuesday, Zillow announced the launch of Zillow Preview, a new product designed to bring pre-market listings, often labeled “coming soon”, into public view on Zillow and Trulia before they officially go live on the MLS.

Zillow Preview is set to roll out next month, with initial participation from major brokerages including Keller Williams, RE/MAX, HomeServices of America, Side, and United Real Estate.

Notably, Zillow Preview listings are entered directly into Zillow before hitting the MLS, meaning Zillow now operates its own add/edit system outside the MLS. Participating listing agents receive priority placement in search results, real-time listing insights, and potential access to Zillow’s Flex revenue.

📰 Related News: EXp announces pre-marketing syndication deal with 3 portals. (eXp)

5. Compass drops antitrust lawsuit against Zillow

Compass has voluntarily dismissed its lawsuit against Zillow, ending a months-long legal dispute over how homes are marketed and sold, according to a Wednesday court filing.

The brokerage said it dropped the case without prejudice, meaning it can refile in the future, after Zillow updated its Listing Access Standards (LAS) to be more flexible. The changes give listing agents and their clients more room to market “coming soon” properties without the risk of listings being removed.

With Zillow now revising its approach, Reffkin confirmed Compass no longer sees a need to continue legal action, stating, â€œBecause of this reversal, we are dismissing our lawsuit against Zillow.”

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