Home prices rose in 80% of metro markets during the second quarter of 2026, according to the National Association of REALTORS®’ latest quarterly report. This is up from 71% in the first quarter. Five percent of metro areas recorded double-digit price gains, unchanged from last quarter. The report provides the real estate ecosystem—including agents, buyers and sellers—with quarterly metro-area data on median home prices and housing affordability.
The national median single-family existing-home price rose 1.5% year-over-year to $434,900, up from 0.5% annual growth in the first quarter.
“Home sales increased despite mortgage rates rising. This testifies to the potential housing demand building up from steady job and income gains,” said NAR Chief Economist Dr. Lawrence Yun. “Sales rose in three of the four major regions, with the South leading the way due to faster job growth. The Northeast was the exception, held back partly by slower job growth and faster-appreciating home prices, which hurt affordability.”
“It is welcoming to see incomes rising faster than home prices, which has helped boost affordability—but the big short-term challenge to affordability is coming from rising mortgage rates.”
Median existing single-family home price by region (year-over-year change)
- Northeast: $547,200 (+3.8%)
- Midwest: $340,800 (+3.6%)
- South: $380,000 (+1.0%)
- West: $637,900 (-0.8%)
10 large markets with the biggest year-over-year median price increases
- Beaumont-Port Arthur, Texas (+11.0%)
- Naples-Immokalee-Marco Island, Fla. (+10.5%)
- Gulfport-Biloxi-Pascagoula, Miss. (+10.3%)
- Syracuse, N.Y. (+9.6%)
- Hartford-West Hartford-East Hartford, Conn. (+8.0%)
- Lansing-East Lansing, Mich. (+7.8%)
- Canton-Massillon, Ohio (+7.7%)
- Providence-Warwick, R.I.-Mass. (+7.4%)
- York-Hanover, Pa. (+7.4%)
- Milwaukee-Waukesha-West Allis, Wis. (+6.8%)
10 most expensive markets (median sales price, with year-over-year price change)
- San Jose-Sunnyvale-Santa Clara, Calif. ($2,050,000; -4.2%)
- San Francisco-Oakland-Hayward, Calif. ($1,500,000; +5.2%)
- Anaheim-Santa Ana-Irvine, Calif. ($1,485,000; +3.7%)
- Urban Honolulu, Hawaii ($1,183,000; +3.0%)
- San Diego-Carlsbad, Calif. ($1,075,000; +4.9%)
- Salinas, Calif. ($982,600; +0.4%)
- Oxnard-Thousand Oaks-Ventura, Calif. ($961,800; +0.4%)
- San Luis Obispo-Paso Robles, Calif. ($954,400; +2.8%)
- Bridgeport-Stamford-Norwalk, Conn. ($885,100; +4.7%)
- Los Angeles-Long Beach-Glendale, Calif. ($879,900; 0.0%)
Housing affordability
- 20% of markets experienced declining home prices
- Down from 27% last quarter
- Down from 24% last year
- $2,199: monthly mortgage payment on a typical existing single-family home with a 20% down payment
- $219 increase from last quarter
- $52 decrease from last year
- 23.8%: average share of income that typical families spent on mortgage payments
- Up from 21.8% last quarter
- Down from 25.5% last year
First-time buyers
- $2,158: the monthly mortgage payment for a typical starter home valued at $369,700 with a 10% down payment
- $214 increase from last quarter
- $49 decrease from last year
- 35.9%: share of income first-time buyers spent on monthly mortgage payments
- Up from 32.9% last quarter
- Down from 38.4% last year
About the National Association of REALTORS®
The National Association of REALTORS® is involved in all aspects of residential and commercial real estate. The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics. For free consumer guides about navigating the homebuying and selling transaction processes – from written buyer agreements to negotiating compensation – visit facts.realtor.