National Housing Market

By Erika Ludvigsen

The national median price of a home sold in January increased by 1.3% compared to the same month in 2025, a slightly higher appreciation rate than in December.

National year-over-year home price growth ticks up to 1.3% in January 2026

National Year-over-year home price growth increased from 1.1% in December 2025 to 1.3% in January 2026. The median home price nationwide increased from $370,000 to $374,900 during the 12-month period, continuing the pattern of moderate appreciation that has persisted since early 2024.

Midwest remains strong as Northeastern markets gain momentum

The Midwest region continued to experience relatively strong appreciation, but several Northeastern markets joined the ranks of the strongest-performing locations. Philadelphia showed the strongest price growth among the 40 largest metro areas, with a year-over-year gain of 8.6%. Median sale prices also grew strongly in Baltimore, Washington, D.C., and Boston. All of the other large markets in the top 10 were Midwestern. 

Housing market continues to normalize as buyer–seller balance improves

Nationwide, the home market continued to normalize after a half-decade of disruption, with several indicators showing greater balance between buyers and sellers. The inventory of homes available for purchase grew slightly to 4 months of supply, while the median discount from asking price stood at 2.3%, both indicators of a neutral market.

Text box showing national key indicators for home prices, with January 2026's median sales price at $374,900, a 1.3% year-over-year percentage change, and a $4,900 nominal year-over-year change.
National sale prices rose 1.3% year-over-year to $374,900, up $4,900 from January 2025. The national median sale price has increase 10.3% over the past 3 years and 47% over the past 5 years.


Bar chart showing the national monthly home sale prices, ending January 2026, with a median home sale price of $374,900.
The national home sale price in January 2026 is $374,900, a slightly higher appreciation rate than in December.


A line chart showing the national annual nominal change in sales prices. As of January 2026 the national median price is $374,900 up $4,900 from January 2025.
The national median home price nationwide increased from $370,000 to $374,900 during the 12-month period, continuing the pattern of moderate appreciation that has persisted since early 2024.


Area chart showing the national annual percentage change in sales prices. As of January 2026 the national median price is $374,900 up 1.3% from January 2025.
As of January 2026, the national median home price is $374,900, representing a 1.3% increase from January 2025, a slightly higher appreciation rate than 1.0% in December.



Bar chart showing national home sale prices in the month of January, ending at January 2026 at $374,900.
The January national sale price is $374,900, up $4,900 from January of 2025.


Bar chart showing the national year-over-year percentage growth in home prices in the month of January. The January 2026 median sale price up 1.3% from January 2025.
The national annual home price appreciation rate in January 2026 is 1.3%, the lowest level for January in recent years.


Bar chart displaying the median home sale price for the top 40 U.S. markets.
Among the top 40 markets in the nation in January 2026, California saw the highest sale prices, including San Jose ($1,402,500), San Francisco ($1,372,500), San Diego ($900,000), and Los Angeles ($880,000). Markets with the lowest price points are concentrated in the Midwest are include Pittsburgh ($225,000), Cleveland ($225,000), Oklahoma City ($255,000), and St. Louis ($256,400).


Bar Chart showing the year-over-year percentage change in median home sale price among the top metros in the United States during January2026.
Markets in the Midwest region continued to experience relatively strong appreciation, but several Northeastern markets joined the ranks of the strongest-performing locations. Prices declined in parts of the South and West.


Map of the United States showing the change in sale prices in the top 40 U.S. metropolitan areas. Markets are grouped into three categories based on price change: less than negative 2%, from negative 2% to positive 3%, and over 3%. Text boxes summarize the number of markets that fall into each category. 18% or 7 markets saw less than negative 2% price appreciation, 60% or 24 markets saw from negative 2% to positive 3%, and 23% or 9 markets saw over 3% price appreciation.
Among the top 40 metros in the United States, 18% (7 markets) saw less than negative 2% price appreciation, 60% (24 markets) saw between negative 2% and 3%, and 23% (9 markets) saw more than 3% price appreciation. Markets with the greatest price appreciation were clustered in the Midwest and Northeast.



Text boxes summarizing the national diffusion of percent of markets nationally with increasing sale prices in January 2026. Of the 933 metros tracked by Homes.com, 533 or 57.1% showed an increase compared with November 2024. Line chart showing the percentage of markets nationally with increasing sale prices.
The national diffusion index of changes in sale prices in November showed that, of the 933 metros tracked by Homes.com, 57.1% or 533 saw an increase in price as compared to January 2026.


Map of the United States showing the change in sale prices in U.S. states. States are grouped into three categories based on price change: less than 0%, from 0% to 4%, and over 4%. Text boxes summarize the number of states that fall into each category. 27% or 14 markets saw less than 0% price appreciation, 51% or 26 markets saw from 0% to 4%, and 22% or 11 markets saw over 4% price appreciation.
Among the 50 states, 27% or 14 markets saw less than 0% price appreciation, 51% or 26 markets saw from 0% to 4%, and 22% or 11 markets saw over 4% price appreciation.


Text boxes showing the national January 2026 sales price, annual price percentage change, and annual nominal dollar change for detached, attached, and condos.
In January 2026, the national average price for single-family homes reached $378,000, a 0.8% increase year-over-year. Condos saw the greatest decline on a percentage basis, down 0.4% from the same time in 2025, with a median sale price of $348,602. Townhome prices were flat nationwide at $350,000.


Bar chart showing the national price level for detached ($378,000), attached ($348,602), and condos ($350,000). Bar showing the national annual percentage change for detached homes up 0.8%, attached homes down 0.4%, and condos flat 0.0%.
Nationwide, townhomes are the most affordable property type at $348,602 down 0.4% as compared to January 2025. Condos prices were flat year over year at $350,000. Single-family homes are the most expensive property type at $378,000 an increase of 0.8% compared to the same time last year.




For questions and commentary about this report:

Erika Ludvigsen, National Director of Residential Analytics at CoStar and Homes.com, based in Atlanta, GA, is available for interviews to provide expert insights on this data and the broader residential real estate market.

Erika Ludvigsen

National Director of Residential Analytics

Homes.com

eludvigsen@costar.com

Homes.com releases preliminary figures on housing trends on a monthly basis. Although these numbers may change slightly once all home sales are accounted for, they provide an early indication of home sale price appreciation during January 2026.

Definition of Sale Prices

Median home price is the midpoint sale price of homes closed during each month. This data includes homes that are detached, attached, and condominiums. Detached homes are single-family units. Attached homes are townhomes, rowhouses, and duplexes. The condominium classification includes co-ops.

For most markets, geographical coverage consists of the Census-defined Core-Based Statistical Area (CBSA). Data for San Francisco, Los Angeles, Miami, and New York is at the Metropolitan Division level.

About the Homes.com Market Analytics Team

The Homes.com Market Analytics group is a team of experienced analysts embedded in nearly 30 markets across North America. These experts reside in and regularly visit the markets they cover, providing local expertise and a national perspective on all sectors of real estate: residential, office, industrial, retail, and multifamily.

About Homes.com Analytics Data

The Homes.com analytic data is compiled by the CoStar Analytics team, the largest and most experienced analytics team in the real estate industry. The team consists of over 50 economists, analysts, and data scientists, who collectively have more than 900 years of real estate experience and over 30 advanced degrees. Analysts on the team live in and around the markets they cover, enabling them to build deep local knowledge and unique insights.

The data set being used by the team is one of the most comprehensive and robust in the industry. It spans all 393 metropolitan markets, 542 micropolitan markets, and over 35,000 local neighborhoods in the U.S. The data set is sourced from almost 500 Multiple Listing Service (MLS) providers around the country, as well as public record data from each market, and is supplemented by proprietary data collected by CoStar's team of over 2,000 researchers. It includes a complete inventory of all homes in the U.S., including homes for sale, homes for rent, new construction homes, as well as sale comps and rent comps.

About Homes.com

The Homes.com Network is the fastest-growing residential real estate marketplace and the second largest in the United States. Homes.com is a brand of CoStar Group (NASDAQ: CSGP), a global leader in commercial real estate information, analytics, and online marketplaces, which acquired the platform in 2021.

Homes.com is the first major U.S. real estate portal to focus first on helping homeowners and their agents leverage the marketing power of the internet to bring more potential buyers to their listings. Homes.com’s unparalleled content and search capabilities bring millions of buyers and sellers to the site where they can seamlessly connect with agents. On average, Homes.com’s Members are winning 60% more listings* because they offer the home sellers a real estate portal that works for them not against them.

The Homes.com Network reached an audience of 108 million average monthly unique visitors in 2025** Consumer brand awareness skyrocketed from 4% to 33% in just one year since CoStar Group launched the industry’s largest marketing campaign to date in February 2024, reintroducing the platform to the market. For more information, visit Homes.com.

*Based on internal analyses comparing Members to non-Members on Homes.com.

** Homes.com Network (which includes Homes.com, the Apartments Network, and the Land Network) average monthly unique visitors (108 million) for the year ended December 31, 2025, according to Google Analytics

About CoStar Group
CoStar Group (NASDAQ: CSGP) is a global leader in commercial real estate information, analytics, online marketplaces, and 3D digital twin technology. Founded in 1986, CoStar Group is dedicated to digitizing the world’s real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives.

CoStar Group’s major brands include CoStar, a leading global provider of commercial real estate data, analytics, and news; LoopNet, the most trafficked commercial real estate marketplace; Apartments.com, the leading platform for apartment rentals; Homes.com, the fastest-growing residential real estate marketplace; and Domain, one of Australia’s leading property marketplaces. CoStar Group’s industry-leading brands also include Matterport, a leading spatial data company whose platform turns buildings into data to make every space more valuable and accessible, STR, a global leader in hospitality data and benchmarking; Ten-X, an online platform for commercial real estate auctions and negotiated bids; and OnTheMarket, a leading residential property portal in the United Kingdom.

CoStar Group’s websites attracted over 139 million average monthly unique visitors in the fourth quarter of 2025, serving clients around the world. Headquartered in Arlington, Virginia, CoStar Group is committed to transforming the real estate industry through innovative technology and comprehensive market intelligence. From time to time, we plan to utilize our corporate website as a channel of distribution for material company information. For more information, visit CoStarGroup.com.

Media Contact:

Matthew Blocher

CoStar Group

(202) 346-6775

mblocher@costar.com

Writer
Erika Ludvigsen

Erika Ludvigsen is the National Director of Residential Analytics for CoStar and Homes.com, where she delivers insight on the U.S. housing market by analyzing Homes.com’s residential datasets alongside broader economic and demographic trends. She brings deep expertise in new construction, having previously led the national market intelligence team at PulteGroup, and has held roles at BlackRock, Century Communities, and Elme Communities. With more than 15 years in real estate market analytics, she holds a finance degree from Georgetown University and regularly speaks on residential real estate at major industry events, including IMN’s Land/Homebuilding Capital Markets Forum and the International Builders’ Show (IBS). Her work has been featured in The Wall Street Journal and RISMedia.

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