Washington, D.C., Could 05, 2026 (GLOBE NEWSWIRE) — House costs rose in 71% of metro markets (167 out of 235) through the first quarter of 2026, based on the Nationwide Affiliation of REALTORS®’ newest quarterly report. That is down from 73% within the fourth quarter. Seven p.c of metro areas (16 out of 235) recorded double-digit worth beneficial properties, up from 5% final quarter. The report supplies the true property ecosystem—together with brokers and homebuyers and sellers—with quarterly metro-area knowledge on median house costs and housing affordability.
The nationwide median single-family existing-home worth rose 0.5% year-over-year to $404,300, down from 1.2% annual development within the fourth quarter.
Median current single-family house worth 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,” stated 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.”
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“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 stated. “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 massive markets with largest year-over-year median worth will increase
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Akron, Ohio (+12.0%)Anchorage, Alaska (+10.4%)Albany-Schenectady-Troy, N.Y. (+9.3%)Trenton, N.J. (+9.2%)Davenport-Moline-Rock Island, Iowa-Unwell. (+9.2%)Canton-Massillon, Ohio (+7.9%)Milwaukee-Waukesha-West Allis, Wis. (+7.7%)St. Louis, Mo.-Unwell. (+7.4%)Studying, Pa. (+7.4%)Rochester, N.Y. (+7.2%)
10 costliest markets
San Jose-Sunnyvale-Santa Clara, Calif. ($2,030,000; +0.5%)Anaheim-Santa Ana-Irvine, Calif. ($1,442,900; -0.5%)San Francisco-Oakland-Hayward, Calif. ($1,350,000; +2.3%)City Honolulu, Hawaii ($1,175,100; +0.9%)San Diego-Carlsbad, Calif. ($1,050,000; +1.3%)San Luis Obispo-Paso Robles, Calif. ($956,800; +0.4%)Oxnard-Thousand Oaks-Ventura, Calif. ($944,200; +1.4%)Salinas, Calif. ($943,500; -1.2%)Los Angeles-Lengthy Seaside-Glendale, Calif. ($858,500; -0.5%)Naples-Immokalee-Marco Island, Fla. ($845,000; -2.3%)
Housing affordability
27% of markets skilled declining house costs Up from 25% final quarterUp from 17% final yr $1,979: month-to-month mortgage cost on a typical current single-family house with a 20% down cost $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 quarterDown from 24.3% final yr
First-time patrons
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$1,943: the month-to-month mortgage cost for a typical starter house valued at $343,700 with a ten% down cost $76 lower from final quarter$135 lower from final yr 32.5%: share of earnings first-time patrons spent on month-to-month mortgage funds Down from 34.6% final quarterDown from 36.6% final yr
Concerning the Nationwide Affiliation of REALTORS®The Nationwide Affiliation of REALTORS® is concerned in all elements of residential and industrial actual property. The time period REALTOR® is a registered collective membership mark that identifies an actual property skilled who’s a member of the Nationwide Affiliation of REALTORS® and subscribes to its strict Code of Ethics. Free of charge shopper guides about navigating the homebuying and promoting transaction processes – from written purchaser agreements to negotiating compensation – go to information.realtor.
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Knowledge tables for MSA house costs (single-family and rental) are posted at https://www.nar.realtor/research-and-statistics/housing-statistics/metropolitan-median-area-prices-and-affordability. If inadequate knowledge is reported for an MSA in a selected quarter, it’s listed as N/A. For areas not coated within the tables, please contact the native affiliation of REALTORS®.
NOTE: NAR releases quarterly median single-family worth knowledge for roughly 230 Metropolitan Statistical Areas (MSAs). In some circumstances, the MSA costs could not coincide with knowledge launched by state and native REALTOR® associations. Any discrepancy could also be attributable to variations in geographic protection, product combine, and timing. Within the occasion of discrepancies, REALTORS® are suggested that for enterprise functions, native knowledge from their affiliation could also be extra related.
[1]Areas are typically metropolitan statistical areas as outlined by the U.S. Workplace of Administration and Finances. NAR adheres to the OMB definitions, though in some areas a precise match shouldn’t be doable from the out there knowledge. A listing of counties included in MSA definitions is accessible at: https://www.census.gov/geographies/reference-files/time-series/demo/metro-micro/delineation-files.html.
Regional median house costs are from a separate sampling that features rural areas and parts of some smaller metros that aren’t included on this report; the regional proportion modifications don’t essentially parallel modifications within the bigger metro areas. The one legitimate comparisons for median costs are with the identical interval a yr earlier attributable to seasonality in shopping for patterns. Quarter-to-quarter comparisons don’t compensate for seasonal modifications, particularly for the timing of household shopping for patterns.
Median worth measurement displays the sorts of houses which might be promoting through the quarter and may be skewed at occasions by modifications within the gross sales combine. For instance, modifications within the stage of distressed gross sales, that are closely discounted, can differ notably in given markets and will have an effect on proportion comparisons. Annual worth measures typically easy out any quarterly swings.
NAR started monitoring of metropolitan space median single-family house costs in 1979; the metro space rental worth collection dates again to 1989.The seasonally adjusted annual fee for a selected quarter represents what the overall variety of precise gross sales for a yr could be if the relative gross sales tempo for that quarter was maintained for 4 consecutive quarters. Complete house gross sales embody single-family, townhomes, condominiums and co-operative housing.
