US home prices inch up 0.5% in Q1 2026 as pending sales rise

The National Association of REALTORS® reported that the median price of a single‑family existing home in the United States rose 0.5% year‑over‑year to $404,300 in the first quarter of 2026. Price gains were recorded in 71% of metro areas, with 7% of those markets posting double‑digit increases. Regional performance varied: the Northeast saw a 4.9% rise, the Midwest 3.6%, the South a modest 0.2% gain, while the West experienced a 2.9% decline.

Pending home‑sale contracts, an indicator of future sales, increased 1.4% in April from the prior month and 3.2% year‑over‑year. The Northeast posted the strongest jump at 6.6%, the Midwest rose 3%, and the South slipped 0.7%. Despite these signs of buyer activity, the 30‑year fixed mortgage rate remained near two‑decade highs at 6.36%, contributing to a home‑ownership rate that hovers around a six‑year low of 65%. Analysts note that unless housing supply expands, price growth could outpace wage growth.