Home prices surge across 80 percent of U.S. metropolitan areas

In the United States, home prices have continued to rise significantly, with 80 percent of metropolitan areas experiencing increases between April and June 2026. The National Association of Realtors (NAR) reported that the national median single-family existing-home price rose by 1.5 percent year-over-year, reaching $434,900. This increase follows a modest 0.5 percent growth in the first quarter of the year. The Northeast region saw the most substantial price hike, with a median home price of $547,200, reflecting a 3.8 percent increase. Meanwhile, the Midwest experienced a 3.6 percent rise, bringing the median price to $340,800. In contrast, the South, particularly in states like Florida and Texas, saw a more modest increase of just 1 percent, with a median price of $380,000. This disparity in price growth is attributed to a combination of high demand and limited inventory in the Northeast and Midwest, while the South faces a surplus of unsold inventory due to dwindling demand after the pandemic boom. Despite the overall price increases, 20 percent of metro markets reported declining median home prices, indicating a mixed landscape in the housing market. The average share of income spent on mortgage payments has also increased to 23.8 percent, although this is an improvement from the previous year. Rising mortgage rates pose a significant challenge to affordability, even as incomes are rising faster than home prices, providing some relief to buyers. The ongoing inventory shortages and high demand continue to shape the housing market dynamics across the country.