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Home prices rose in 78% of metro markets during the third quarter of 2026, down from 80% in the second quarter. Four percent of metro areas recorded double-digit price gains, down 5% from last quarter.
“Even with affordability challenges causing the housing market to stagnate, home prices continue to set record highs in most parts of the country,” said NAR Chief Economist Dr. Lawrence Yun. “Homeowners are the beneficiaries of the price gains. Over the past seven years, the average house has appreciated by $146,000.” Yun continued, “Throughout the last year, home prices declined in many Florida markets. This quarter, however, homes in nearly all Florida markets are showing price gains. In a similar vein, price declines in other markets may also be brief if the local job market and economy are solid. Many markets in the Midwest offer exceptional value with more affordable homes, making homeownership more attainable. Meanwhile, the artificial intelligence technology boom continues to push Bay Area home prices higher, keeping the region the most expensive in the country.”
The next quarterly Metropolitan Median Area Prices and Affordability and Housing Affordability Index release will be Wednesday, February 3, 2027, at 10 a.m. Eastern Time.
NAR's quarterly Metropolitan Median Area Prices and Affordability report provides a breakdown of condo and co-op prices by metro market.
Metro Area Median Price Index data are provided by NAR solely for use as a reference. No part of the data may be reproduced, stored in a retrieval system, transmitted or redistributed in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without NAR's prior written consent for those who are not members of NAR.
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