Home Prices Increased In 73% Of Metro Areas In Fourth Quarter Of 2025

2026-02-04 10:01:29

(MENAFN- GlobeNewsWire - Nasdaq) Washington, D.C., Feb. 04, 2026 (GLOBE NEWSWIRE) -- Home prices rose in 73% of metro markets (168 out of 230) during the fourth quarter of 2025, according to the National Association of REALTORS^®' latest quarterly report. This is down from 77% in the third quarter. Five percent of metro areas (12 out of 230) recorded double-digit price gains, up slightly from 4% last quarter. The report provides the real estate ecosystem-including agents and homebuyers and sellers-with quarterly metro-area data on median home prices and housing affordability.

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.”

10 large markets with the biggest year-over-year median price increases

Mobile, Ala. (+13.7%)

Canton-Massillon, Ohio (+9.8%)

Nassau County-Suffolk County, N.Y. (+9.6%)

Montgomery, Ala. (+9.4%)

St. Louis, Mo.-Ill. (+9.1%)

Shreveport-Bossier City, La. (+8.4%)

Youngstown-Warren-Boardman, Ohio-Pa. (+8.3%)

Providence-Warwick, R.I.-Mass. (+8.2%)

Fort Wayne, Ind. (+8.0%)

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

10 most expensive markets

San Jose-Sunnyvale-Santa Clara, Calif. ($1,920,000; 0.0%)

Anaheim-Santa Ana-Irvine, Calif. ($1,396,500; +2.7%)

San Francisco-Oakland-Hayward, Calif. ($1,305,000; -0.8%)

Urban Honolulu, Hawaii ($1,142,100; +3.5%)

San Diego-Carlsbad, Calif. ($994,000; +0.9%)

Salinas, Calif. ($955,500; +1.2%)

Los Angeles-Long Beach-Glendale, Calif. ($939,700; 0.0%)

Oxnard-Thousand Oaks-Ventura, Calif. ($936,700; +1.8%)

San Luis Obispo-Paso Robles, Calif. ($917,100; -1.1%)

Nassau County-Suffolk County, N.Y. ($818,800; +9.6%)

Housing affordability

25% of markets experienced declining home prices
- Up from 23% last quarter
$2,057: monthly mortgage payment on a typical existing single-family home with a 20% down payment
- 5.7% decrease from the previous quarter
- 3.1% decrease year over year
22.9%: average share of income typical families spent on mortgage payments
- Down from 24.5% last quarter
- Down from 24.7% last year

First-time buyers

$2,019: the monthly mortgage payment for a typical starter home valued at $352,700 with a 10% down payment
- $122 decrease from last quarter
- $62 decrease from last year
34.6%: share of income first-time buyers spent on monthly mortgage payments
- Down from 37.0% last quarter
- Down from 37.3% 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. For free consumer guides about navigating the homebuying and selling transaction processes – from written buyer agreements to negotiating compensation – visit facts.

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Information about NAR is available at . This and other news releases are posted in the newsroom at . Statistical data in this release, as well as other tables and surveys, are posted in the“Research and Statistics” tab.

NOTE: NAR releases quarterly median single-family price data for approximately 230 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.

Data tables for MSA home prices (single-family and condo) are posted at . If insufficient data is reported for an MSA in a particular quarter, it is listed as N/A. For areas not covered in the tables, please contact the local association of REALTORS^®.

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: .

Regional median home prices are from a separate sampling that includes rural areas and portions of some smaller metros that are not included in this report; the regional percentage changes do not necessarily parallel changes in the larger metro areas. The only valid comparisons for median prices are with the same period a year earlier due to seasonality in buying patterns. Quarter-to-quarter comparisons do not compensate for seasonal changes, especially for the timing of family buying patterns.

Median price measurement reflects the types of homes that are selling during the quarter and can be skewed at times by changes in the sales mix. For example, changes in the level of distressed sales-which are heavily discounted-can vary notably in given markets and may affect percentage comparisons. Annual price measures generally smooth out any quarterly swings.

NAR began tracking of metropolitan area median single-family home prices in 1979; the metro area condo price series dates back to 1989.
The seasonally adjusted annual rate for a particular quarter represents what the total number of actual sales for a year would be if the relative sales pace for that quarter was maintained for four consecutive quarters. Total home sales include single-family, townhomes, condominiums and co-operative housing.

CONTACT: National Association of Realtors®...tor

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