In Q1 2026, home prices climbed across most metro areas, with affordability shifting unevenly by region.
A slow, steady climb in housing costs is showing up across much of the country, with home prices rising in the majority of metro areas in Q1 2026, according to Misryoum.
In the first quarter, prices increased in 71% of metro markets, down slightly from the prior quarter.. Even as the national median existing single-family price edged up year over year. the pace of growth appears more uneven than earlier in 2025. hinting at a housing market that is still searching for balance.
This kind of “mostly rising” pattern matters for both buyers and sellers: when gains spread across many metros, it can shape expectations, confidence, and pricing behavior—even if affordability remains a moving target.
Regionally, the picture is mixed. The Northeast and Midwest posted year-over-year increases, while the West saw prices decline. At the same time, the South showed only a small rise, underscoring that the market is not moving in lockstep from one area to the next.
Misryoum notes that metro-level affordability continues to vary widely. While many markets experienced higher prices, some also saw declining prices, suggesting that local supply-and-demand pressures and buyer costs are not converging into a single national trend.
That unevenness is especially important for households planning a move: similar headlines can hide very different realities in monthly budgets depending on where someone lives and how much they would pay to finance a purchase.
Beyond single-family homes, condominium pricing is also drawing attention. Misryoum reports that the condo market is showing signs of stabilization in some places, with certain metro areas posting stronger price performance for condos relative to single-family homes.
Affordability indicators point to modest relief in payment stress, even as mortgage rates remain a key constraint.. Misryoum highlights that typical monthly mortgage payments for existing single-family homes and for first-time-buyer starter homes saw decreases compared with the prior quarter and the same time last year. while the share of income going toward mortgage payments also eased.
In the end, Misryoum emphasizes that what looks like a broad lift in prices does not automatically translate into easier decisions for every buyer. The market’s direction may be upward in most metros, but the path to affordability is still highly dependent on local conditions and financing costs.