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Home prices are still rising in the majority of metro areas across the country, but with growth slowing and affordability improving, more hopeful buyers may be finding a long-awaited opening.

Seventy-three percent — or 168 — of the 230 metro markets tracked saw home prices rise year-over-year during the final quarter of 2025, and 12 of those markets even saw double-digit price gains, the National Association of Realtors®’ latest quarterly report shows.

Overall, the national median single-family home price was up 1.2% in the fourth quarter compared with the fourth quarter of 2024, reaching $414,900. While the South and West appear to be experiencing more price moderation, the Northeast and Midwest regions are proving more resilient. In the Northeast, median home prices surged 5.5% annually to $514,600 in the fourth quarter, while the most affordable region in the country—the Midwest—posted a 4.13% increase annually, reaching a $317,100 median, NAR’s data shows.

“Most metro markets continue to see record-high housing wealth,” says Lawrence Yun, NAR’s chief economist.

NAR’s data shows that a typical U.S. homeowner has accumulated about $147,000 in housing wealth over the last five years alone. But as home sales have moderated, the pace of home price increases is starting to slow.

Price declines are occurring in some areas

About a quarter of housing markets saw home prices decline in the final quarter of 2025, NAR’s data shows. “Some areas are experiencing home price declines,” Yun notes. “The declining markets are concentrated primarily in Florida and Texas, where robust supply and recent home construction are increasing competition among sellers to attract buyers.”

That said, most home sellers continue to be in a strong equity spot.  For example, in places like Austin, Texas, homeowners have accrued about $170,000 in equity over the last five years; in Miami–Fort Lauderdale, Florida, the average homeowner has gained about $300,000 in equity in that time, according to NAR’s Market Statistics Dashboard.

Housing affordability improves in the fourth quarter

As home prices moderate, home buyers may start to take notice: Housing affordability is improving. “Mortgage rates fell, income growth outpaced home price growth and the income required to buy a typical home declined,” Yun notes.

The monthly mortgage payment on the typical single-family home, with a 20% down payment, was $2,057 in the fourth quarter of 2025, according to NAR data. That is down 5.7% from the third quarter and a 3.1% decrease from a year ago.

What’s more, the typical family spent an average of 22.9% of their income on their mortgage payment during the fourth quarter, down from a 24.7% share a year ago—falling further from the 25%–30% threshold most financial experts use to measure housing affordability.

Where home prices continue to soar

NAR’s latest quarterly report shows the following 10 metros posted the largest year-over-year median home price increases in the fourth quarter of 2025:

• Mobile, Ala.: +13.7% annually
• 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%
• Hartford-West Hartford-East Hartford, Conn.: +8%

The most expensive housing markets overall continue to be mostly concentrated in California, led by San Jose where the median single-family home price was a whopping $1.9 million in the fourth quarter of 2025. NAR’s latest quarterly report shows the following metros are commanding the highest home prices in the country:

• San Jose-Sunnyvale-Santa Clara, Calif.: $1.9 million; 0.0% year-over-year in the fourth quarter
• Anaheim-Santa Ana-Irvine, Calif.: $1.4 million; +2.7%
• San Francisco-Oakland-Hayward, Calif.: $1.3 million; -0.8%
• Urban Honolulu, Hawaii: $1.1 million; +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%

© 2026 National Association of Realtors® (NAR)

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Recently as Listing Agents, Barry & Kim with the Hoey Team 🍀 239RealEstateDeals.Com LLC ☘ helped a number of sellers who had been in Foreberance, Pre-Foreclosure and in similar difficult situations.  We were able to get all of them to a "very good place"; worry free & stress free; with excellent end results for them.   Also, Kim is a certified stager which helps us additionally on all of our listings.  Call us for more information: 239-360-5527.

With access to many different professions on our team, we help and serve people in many different situations; everybody's situation is different even in a hot sellers market as we recently experienced.

If you know someone needing help; or simply wants advice, please have them reach out to us in confidence: 239-360-5527; anytime; we continue to achieve excellent results in the communities where we list and sell across Lee and Collier Counties utilizing our Knowledge, Experience, Systems and Tools.

Sadly for some time we see a number of sellers who are not keeping up with the changes locally; often putting their homes on the market and selling them for less than what the market can bear.  Additionlly; selling a home the first day on MLS may not guarantee the best price for the seller / homeowner.  Please call Barry at 239-360-5527 for more information.

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Even with Hurricane Ian having passied thrugh Southwest Florida last year, as people continue to move and relocate to the general areas of Lee & Collier Counties; aka: Paradise Coast from other parts of the United States, it is important that we are able to directly serve all of the area; which we do, efficently.  We have the ability to offer many different Choices, Price-Points and Lifestyles all of which are in abundance here in SW FLA, 239RealEstateDeals.Com LLC has blanket coverage of Southwest Florida and most of Florida for that matter by being active members of four different MLS systems.  Additionally we have the latest cutting edge technologies in house with many systems in place to better serve our customers and clients who we represent.

Inventory remains steady, but is increasing overall; we do continue to list and market new South Florida property listings to the marketplace and we sell many different type homes; Resale & New Construction; Multigenerational Family Compounds, Single Family Homes, Villas, Townhomes and all Condo types, from low rise, to Waterfront high rise right on the Beach / Gulf Coast.  We have something for everyome from beach lovers, boaters, golfers, nature lovers to farmers and horse lovers.

We continue to see many people planning ahead, and buying that second home now, rather than waitiang as they were planning to do; especially with Snowmads and Zoombirds working from home.  Previously we had Snowbirds; interesting how terminology keeps changing / evolving.  Hurricane Ian prompted some buyers to start looking again, while other buyers had pulled back momentarily.

Interest rates increases have sadly driven some buyers out of the market place, we do see price reductions on some overpriced and / or under marketed listings.  Even with recent interest rate hikes, buyers are still looking, but showing more prudency than before as we Secure Real Estate Deals for them.  Properties are still selling as it trends towards a more balanced market.

Relatively low inventory overall is still a challenge for active buyers who are not prepared on some property types; but if prepared you are ahead of the game; ask how we can help with all of that.  We do see more listings coming to the market here in Southwest Florida, so, that is good.

We recently got a number amazing deals for buyers; even during the recent Hot Sellers Market; and we are working on others as our market changes a little having gone through a hurricane.  There are deals out there; if you work with us, we will definitely find them for you. 

For those relocating to Florida (and to other areas), we are pleased to be able to efficently assist homeowners in other parts of the United States who need to sell to buy here; please reach out today for more information and how you can have a smooth, non-stressful transition / relocation with the best available representation.  Call Barry at 239-360-5527.

At our Real Estate Team; Hoey Team 🍀 239RealEstateDeals.Com LLC ☘ we have been succesfully working 100% virtually / remotely for the past number of years; i'm thankful that we already had systems in place to better help sellers and buyer with goal posts continually moving within our industry / profession.

Article content from FR (Florida REALTORS) Newsletter Magazine, and from other sources including Hoey Team, 239RealEstateDeals.Com LLC & Freddie Mac / Fannie Mae - Make sure to ask us for more information on how it may effect you; Call Barry at 239-360-5527 ☘

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