1118 ET - Home values rose for the first time in seven months, Zillow says, and existing home sales improved from a year ago. The housing market is perking up as spring approaches, possibly foreshadowing a more active year for transactions after three low-volume years. The improvement in existing home sales in February suggests January's weaker figures were likely influenced by severe winter weather. Lower mortgage rates have helped improve buying power by about $30,000 for a median-income household over the past year, while the typical mortgage payment is down 7.7% from a year ago. A sustained dip for mortgage rates below 6% could provide a psychological boost that prompts more buyers and sellers to return to the market. New for-sale listings totaled 283,478 in February, down 3% from a year earlier and up 4.9% from January. (chris.wack@wsj.com)

(END) Dow Jones Newswires

March 04, 2026 11:18 ET (16:18 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.