Home Prices Up in 71% of Metro Areas in Q1 2026

NAR: The nationwide median single-family existing-home value rose barely – up 0.5% YoY – to $404,300, down from 1.2% annual development in 4Q 2025.

WASHINGTON — Home costs rose in 71% of metro markets (167 out of 235) through the first quarter of 2026, in response to the National Association of Realtors®’ newest quarterly report. This is down from 73% in the fourth quarter of 2025.

Seven % of metro areas (16 out of 235) recorded double-digit value features, up from 5% final quarter. The report offers the actual property ecosystem – together with brokers and homebuyers and sellers – with quarterly metro-area information on median dwelling costs and housing affordability.

The nationwide median single-family existing-home value rose 0.5% year-over-year to $404,300, down from 1.2% annual development in the fourth quarter.

Median current single-family dwelling value by area (year-over-year change)

Northeast: $506,500 (+4.9%)

Midwest: $308,100 (+3.6%)

South: $362,300 (+0.2%)

West: $607,600 (-2.9%)

“Home prices continued to increase in many markets, boosting housing wealth for most homeowners,” mentioned NAR Chief Economist Dr. Lawrence Yun. “Gains were particularly solid across metro areas in the Northeast, where inventory shortages persist, and in the Midwest, where home prices remain relatively affordable. However, the expensive West region did not see an increase in sales.”

“The condominium market, which weakened sharply last year, is showing signs of stabilization and, in some metro areas, even outperforming the single-family market in terms of price gains,” Yun mentioned. “Improved affordability is drawing buyers back to the condo market.”

“Even though mortgage rates are higher than earlier this year, rates remain comfortably below last year’s levels,” Yun continued. “Lower mortgage rates will allow more potential buyers to qualify for and obtain a mortgage.”

10 giant markets with largest year-over-year median value will increase

1. Akron, Ohio (+12.0%)
2. Anchorage, Alaska (+10.4%)
3. Albany-Schenectady-Troy, NY (+9.3%)
4. Trenton, NJ (+9.2%)
5. Davenport-Moline-Rock Island, Iowa-Ill. (+9.2%)
6. Canton-Massillon, Ohio (+7.9%)
7. Milwaukee-Waukesha-West Allis, Wis. (+7.7%)
8. St. Louis, Mo.-Ill. (+7.4%)
9. Reading, Pa. (+7.4%)
10. Rochester, NY (+7.2%)

10 most costly markets

1. San Jose-Sunnyvale-Santa Clara, Calif. ($2,030,000; +0.5%)
2. Anaheim-Santa Ana-Irvine, Calif. ($1,442,900; -0.5%)
3. San Francisco-Oakland-Hayward, Calif. ($1,350,000; +2.3%)
4. Urban Honolulu, Hawaii ($1,175,100; +0.9%)
5. San Diego-Carlsbad, Calif. ($1,050,000; +1.3%)
6. San Luis Obispo-Paso Robles, Calif. ($956,800; +0.4%)
7. Oxnard-Thousand Oaks-Ventura, Calif. ($944,200; +1.4%)
8. Salinas, Calif. ($943,500; -1.2%)
9. Los Angeles-Long Beach-Glendale, Calif. ($858,500; -0.5%)
10. Naples-Immokalee-Marco Island, Fla. ($845,000; -2.3%)

Housing affordability

27% of markets skilled declining dwelling costs:

*Up from 25% final quarter

*Up from 17% final yr

$1,979: month-to-month mortgage fee on a typical current single-family dwelling with a 20% down fee:

*$78 lower from final quarter

*$140 lower from final yr

21.5%: common share of earnings that typical households spent on mortgage funds:

*Down from 22.9% final quarter

*Down from 24.3% final yr

First-time consumers

$1,943: the month-to-month mortgage fee for a typical starter dwelling valued at $343,700 with a ten% down fee:

*$76 lower from final quarter

*$135 lower from final yr

32.5%: share of earnings first-time consumers spent on month-to-month mortgage funds:

*Down from 34.6% final quarter

*Down from 36.6% final yr

Source: National Association of Realtors®

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