Rent Vs. Buy Gap Just Hit A 3 Year Low: Is Housing Affordability Turning? | February 12, 2026

On today’s Hot Sheet, Byron Lazine broke down new Redfin data showing the rent-versus-buy income gap narrowed to 46.3%, the smallest spread in 3 years, as the income needed to buy fell 4% year over year.

He also covered Realtor.com reporting that 19.3% of new-construction listings saw price cuts in Q4, outpacing the 18% rate for existing homes even as median new-home prices rose just 0.3% to $451,128.

Byron wrapped up with the latest U.S. Department of Labor data, with initial claims at 227,000 (down 5,000) and insured unemployment holding at 1.2%, while total continued claims rose 76,822 to 2,248,314.