Home Prices Rose in 73% of Markets in Q4

Washington, DC, February 5, 2026-Home prices rose in 73% of metro markets (168 out of 230) during Q4 2025, according to the National Association of Realtors’ latest quarterly report. This is down from 77% in Q3. 

Five percent of metro areas (12 out of 230) recorded double-digit price gains, up slightly from 4% last quarter. 

The national median single-family existing-home price grew 1.2% year over year to $414,900, down from 1.7% annual growth in the third quarter.

Median existing single-family home price by region (year-over-year change)

• Northeast: $514,600 (+5.5%)
• Midwest: $317,100 (+4.3%)
• South: $367,300 (+0.2%)
• West: $625,800 (-1.2%)

“Home sales squeaked out a gain in the final quarter of 2025, helped by improving affordability conditions,” said NAR chief economist Lawrence Yun. “Mortgage rates fell, income growth outpaced home price growth, and the income required to buy a typical home declined.”

“While most metro markets continue to see record-high housing wealth, some areas are experiencing home price declines,” Yun added. “These declining markets are concentrated primarily in Florida and Texas, where robust supply and recent home construction are increasing competition among sellers to attract buyers.”