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Home prices rose in 71% of metro markets (167 out of 235) during the first quarter of 2026, down from 73% in the fourth quarter. Seven percent of metro areas (16 out of 235) recorded double-digit price gains, up from 5% last quarter.
“Home prices continued to increase in many markets, boosting housing wealth for most homeowners,” said 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.” Yun continued, “Even though mortgage rates are higher than earlier this year, rates remain comfortably below last year’s levels. Lower mortgage rates will allow more potential buyers to qualify for and obtain a mortgage.”
The next quarterly Metropolitan Median Area Prices and Affordability and Housing Affordability Index release will be Tuesday, August 4, 2026, 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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