The median home price across the U.S. rose 2.4% in November from a year earlier, as the housing market continued a balancing trend that has provided benefits for both buyers and sellers.
The median sales price held firm for the third consecutive month at $385,000, according to exclusive data from Homes.com. That’s up $9,120 from the same month in 2024. The median has stayed between $375,000 and $395,000 for the past 10 months.
Prices had dropped on a year-to-year basis each of the previous two months, but the November increase from 2024 isn’t necessarily a sign of a long-term shift in that trend, according to Brad Case, chief residential economist for Homes.com. The number of homes on the market jumped 17.9% compared to a year earlier to the highest level in a decade for the month.
Together with mortgage rates that have been on a downward trend since May, the data suggests more opportunities for everyone in the market, said Case.
“It's reassuring that we're still seeing price growth even as inventory is increasing,” he said. “There seems to be a level of comfort in the market: People aren't afraid to transact, and they're able to reach agreement at prices that are neither depressingly low nor unsustainably high.”
As has been the case for several months, Midwestern cities experienced the largest price gains in November. Cleveland and Cincinnati, in Ohio, eclipsed 10% growth, while Pittsburgh and St. Louis were not far behind, at 8.7% and 7.5%, respectively. On the other hand, Sun Belt metropolitan areas continued to be prominent among those markets seeing price declines. Jacksonville, Florida, which the National Association of Realtors has just named a homebuying hotspot for 2026, led in that department with a 4.1% price drop.
Of the 40 largest U.S. markets, 26 saw price increases, the same share as in October. About a third of the 1,000 markets included in the Homes.com data reported a median price that was lower than a year earlier, also the same as in the previous month.
Detached housing, which saw prices rise 2.6%, accounted for most of the overall price increase across the U.S. in November. Attached housing prices fell 1.3%, while condo prices rose 0.4%.
“The market has shifted from one in which opportunistic sellers hoped to take advantage of scant supply to one in which sellers and buyers are finding common ground,” said Case. “Wider inventory is giving buyers a better opportunity to find the right home. Continued price appreciation, at a time in which interest rates have been easing, gives homebuyers confidence that they can clear the affordability barrier.”