Overview
- Home prices increased year over year in 73% of U.S. metros in Q4 2025, with the national median single-family price up 1.2% to $414,900, according to NAR.
- Deceleration continued as 25% of metros posted price declines, up from 23% in Q3, with the softest conditions concentrated in parts of Florida and Texas.
- The Northeast and Midwest led regional gains at 5.5% and 4.3% respectively, the South edged up 0.2%, and the West slipped 1.2%.
- Affordability improved: the typical monthly payment fell to $2,057 in Q4, the average income share dropped to 22.9%, and the 30-year mortgage rate averaged 6.10% on Jan. 29.
- Zillow’s 2026 ranking puts Indianapolis as the most buyer-friendly market, followed by Atlanta and Charlotte, citing better affordability, lighter competition and modest expected appreciation.