US Home Prices Rise in 78% of Metro Areas as Affordability Remains Strained
A Realtors association survey finds the median existing single-family home price reached $432,900 in the third quarter, up 1.7% from a year earlier, despite high mortgage payments.
Home prices increased from a year earlier in 78% of US metropolitan markets during the third quarter of 2026, according to figures released on Thursday by the National Association of Realtors. The proportion was slightly lower than the 80% recorded in the second quarter, indicating that gains remain widespread but are not uniform across the country.
The national median price of an existing single-family home was $432,900, a rise of 1.7% from the same period in 2025. Only 4% of metropolitan areas recorded double-digit annual price increases, down from 5% in the previous quarter. These are median prices for homes sold, not a measure of the change in value of every individual property.
Regional patterns diverged. The Northeast posted a 4.0% annual increase to a median $561,500, while the Midwest rose 3.6% to $342,500. The South gained 1.0% to $374,900. The West was the only region with a decline, slipping 0.6% to $629,000.
The association identified San Jose-Sunnyvale-Santa Clara in California as the most expensive large market in its report, with a median single-family price of $1.92 million. The disparity between markets shows why national figures may not reflect conditions faced by individual households.
Housing affordability remains a constraint. The association calculated a typical monthly mortgage payment of $2,251 for an existing single-family home purchased with a 20% down payment. That was $48 higher than in the preceding quarter and $69 above the same period a year earlier. These calculations depend on the report's financing assumptions and are not universal mortgage quotes.
The report covers roughly 235 metropolitan statistical areas and uses transactions during the quarter. Changes in the mix of homes sold can influence medians, so quarterly price comparisons should be interpreted carefully. The figures indicate that many sellers continue to benefit from higher prices even as borrowing costs make entry more difficult for prospective buyers.
Sources: National Association of Realtors, 29 October 2026; Tampa Free Press, 29 October 2026.
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