Home Prices Increased in 80% of Metro Areas in Second Quarter of 2026

MARKET CONDITIONSHOME PRICESHOME VALUES

National Association of REALTORS®

8/4/20263 min read

Home Prices Increased in 80% of Metro Areas in Second Quarter of 2026

National Association of REALTORS®, Media Relations | August 4, 2026

WASHINGTON (August 4, 2026) – 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

  1. Beaumont-Port Arthur, Texas (+11.0%)

  2. Naples-Immokalee-Marco Island, Fla. (+10.5%)

  3. Gulfport-Biloxi-Pascagoula, Miss. (+10.3%)

  4. Syracuse, N.Y. (+9.6%)

  5. Hartford-West Hartford-East Hartford, Conn. (+8.0%)

  6. Lansing-East Lansing, Mich. (+7.8%)

  7. Canton-Massillon, Ohio (+7.7%)

  8. Providence-Warwick, R.I.-Mass. (+7.4%)

  9. York-Hanover, Pa. (+7.4%)

  10. Milwaukee-Waukesha-West Allis, Wis. (+6.8%)

10 most expensive markets (median sales price, with year-over-year price change)

  1. San Jose-Sunnyvale-Santa Clara, Calif. ($2,050,000; -4.2%)

  2. San Francisco-Oakland-Hayward, Calif. ($1,500,000; +5.2%)

  3. Anaheim-Santa Ana-Irvine, Calif. ($1,485,000; +3.7%)

  4. Urban Honolulu, Hawaii ($1,183,000; +3.0%)

  5. San Diego-Carlsbad, Calif. ($1,075,000; +4.9%)

  6. Salinas, Calif. ($982,600; +0.4%)

  7. Oxnard-Thousand Oaks-Ventura, Calif. ($961,800; +0.4%)

  8. San Luis Obispo-Paso Robles, Calif. ($954,400; +2.8%)

  9. Bridgeport-Stamford-Norwalk, Conn. ($885,100; +4.7%)

  10. 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.

NOTE: NAR releases quarterly median single-family price data for approximately 235 Metropolitan Statistical Areas (MSAs). In some cases, the MSA prices may not coincide with data released by state and local REALTOR® associations. Any discrepancy may be due to differences in geographic coverage, product mix, and timing. In the event of discrepancies, REALTORS® are advised that for business purposes, local data from their association may be more relevant.

Areas are generally metropolitan statistical areas as defined by the U.S. Office of Management and Budget. NAR adheres to the OMB definitions, although in some areas an exact match is not possible from the available data. A list of counties included in MSA definitions is available at: https://www.census.gov/geographies/reference-files/time-series/demo/metro-micro/delineation-files.html

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