U.S. home-price changes lead to housing record; sales impacted | Official Website of Louis Velazquez, entrepreneur, finance guy and tech innovator

Continued home price increases in much of the U.S. have led to record highs in one major real estate category.

Home prices rose in 77% of U.S. metropolitan areas — 176 out of 230 — during the third quarter of 2025, according to the National Association of Realtors’ (NAR) latest quarterly report, released Nov. 6.

This represents a slight uptick from 75% in the second quarter. Additionally, 4% of metro areas posted double-digit price gains in the third quarter, down from 5% in the previous quarter.

Noting continued record housing wealth, the NAR also identifies one area in which these developments continue to be a drag.

“Home sales have struggled to gain traction, but prices continue to rise, contributing to record-high housing wealth,” said NAR Chief Economist Lawrence Yun in a statement. “Markets in the supply-constrained Northeast and the more affordable Midwest have generally seen stronger price appreciation.”

“Price declines are occurring mainly in southern states, where there has been robust new home construction in recent years,” Yun continued. “Given the region’s faster job growth, these price drops should be viewed as temporary and as a second-chance opportunity for those previously priced out of the market.”

Home price increases by U.S. region

The median price for an existing single-family home in the Northeast was $540,100, a 6.0 percent increase from the third quarter in 2024.
In the Midwest, the median price rose 4.2 percent year-over-year to $331,100.
The South recorded a median price of $372,800, up 0.5 percent compared to the previous year.
The West saw a slight decline, with the median price falling 0.1 percent to $633,900.

The national median single-family existing-home price grew 1.7% from the previous year to $426,800 — the same annual growth rate recorded in the second quarter, according to the NAR.

Monthly mortgage payment trends

The NAR third-quarter report showed that 23% of U.S. housing markets experienced a decline in home prices, a slight improvement from 24% in the previous quarter.

The monthly mortgage payment on a typical existing single-family home with a 20% down payment was $2,187, reflecting a 2.8% decrease from the second quarter but a 2.1% increase compared to the same period last year.

On average, families devoted 24.8% of their income to mortgage payments in the third quarter, down from 25.6% in the prior quarter and from 25.2% a year earlier.

Biggest home-price increases in 10 large markets

Trenton, N.J. recorded a 9.9% increase in its median home price compared to the third quarter of 2024.
Lansing-East Lansing, Mich. saw a 9.8% year-over-year rise in its median home price.
Nassau County-Suffolk County, N.Y. posted a 9.4% increase in median home prices from the previous year.
New Haven-Milford, Conn. experienced a 9.0% gain in its median home price year-over-year.
The New York-Jersey City-White Plains metro area spanning New York and New Jersey saw an 8.1% increase in median prices.
Manchester-Nashua, N.H. reported an 8.0% rise in its median home price over the past year.
The St. Louis metro area, covering parts of Missouri and Illinois, had a 7.9% year-over-year increase in median prices.
Bridgeport-Stamford-Norwalk, Conn. saw a 7.8% gain in its median home price compared to last year.
Toledo, Ohio posted a 7.7% increase in median home prices year-over-year.
Cleveland-Elyria, Ohio also recorded a 7.7% rise in its median home price from the previous year.

Home price increases in 10 most expensive U.S. markets

The median home price in San Jose-Sunnyvale-Santa Clara, Calif. rose 0.8% year-over-year to $1,915,000.
Anaheim-Santa Ana-Irvine, Calif. recorded a 0.1% increase in its median home price, reaching $1,400,000.
San Francisco-Oakland-Hayward, Calif. saw its median home price rise 0.5% from the third quarter of 2024 to $1,315,000.
Urban Honolulu, Hawaii experienced a 0.9% decline in its median home price, which stood at $1,127,900.
Salinas, Calif. posted a 6.3% year-over-year increase in its median home price, reaching $1,019,900.
San Diego-Carlsbad, Calif. held steady with a median home price of $1,009,500, unchanged from the previous year.
Los Angeles-Long Beach-Glendale, Calif. saw its median home price rise 0.7%to $954,100.
Oxnard-Thousand Oaks-Ventura, Calif. recorded a 1.2% decline in its median home price, which was $935,700.
San Luis Obispo-Paso Robles, Calif. experienced a 1.9% drop in its median home price, falling to $931,800.
Bridgeport-Stamford-Norwalk, Conn. posted a 7.8% year-over-year increase in its median home price, reaching $844,900.