Housing Market & Real Estate Update: Rates Ease, Winter Sales Stay Slower
St. Louis, MO – February 28, 2026 – Mortgage rates eased to just under 6%, but January indicators still reflected a slower winter pace, with longer time on market and fewer sale…
Mortgage rates eased slightly, but recent sales data continued to point to a slower winter market in the area.
Top takeaways
- Freddie Mac PMMS (Feb. 26): 30-year fixed 5.98%; 15-year fixed 5.44%.
- Redfin (Jan. 2026): median sale price $223K (+4.1% YoY), 48 median days on market, 259 homes sold (down YoY).
- Inventory spans wide price bands, with many smaller homes under $250K and numerous updated 3–4 bedroom options around $300K–$350K.
Market snapshot
Affordability remains the key constraint. Well-priced, well-maintained homes may outperform the average, while listings that sit may need reductions or repairs to re-capture demand.
What’s for sale and what to watch
Zillow shows about 941 for-sale results, including listings around $175K and some “coming soon” homes around $420K. Watch whether new listings attract early activity or whether more sellers pivot to price cuts as days on market stay elevated.
Are you seeing more price cuts, or more buyers stepping back in?