U.S. Home Prices — Updated Monthly
As of January 2026, the national median home sale price is $403,200. Track comprehensive housing market data including regional breakdowns, market activity indicators, and historical trends from Federal Reserve Economic Data (FRED).
National Median Price
$403,200
New Home Median
Month-over-Month
-2.21%
$9,100
Year-over-Year
-3.66%
$15,300
Housing Supply
8.50 months
Buyer's Market
National Median Home Price History
New home price data — Federal Reserve (FRED, series MSPUS)
Home Prices by Region
Estimated regional medians based on national MSPUS data and regional price ratios. See data sources below.
Northeast
$544,320
Median sales price
Midwest
$330,624
Median sales price
South
$370,944
Median sales price
West
$584,640
Median sales price
The West and Northeast are significantly more expensive than the national median, while the Midwest offers the most affordable home prices.
| Region | Estimated Median Price | vs National Average | Relative Cost |
|---|---|---|---|
Northeast | $544,320 | +35.0% | Above Average |
Midwest | $330,624 | -18.0% | Below Average |
South | $370,944 | -8.0% | Below Average |
West | $584,640 | +45.0% | Above Average |
| Estimates based on national MSPUS median with regional price ratios. For reference only. | |||
Housing Market Activity
Key indicators of market health and momentum
New Home Sales
682K
Annualized rate, thousands of units
Existing Home Sales
4.02M
Annualized rate, millions of units
Housing Starts
1.50M
New residential construction, millions of units
Market Context
At $403,200, the national median home price is 8.37% above the 10-year average of $372,044. Current prices are elevated compared to historical averages, which may affect affordability.
With 8.50 months of housing supply, this is currently a buyer's market. Above 6 months suggests a buyer's market with more negotiating power
Understanding Home Price Data
Learn how housing market indicators are constructed and what they mean
How Home Prices Are Measured
- Median vs Mean: The median price is the middle value when all sales are sorted, which better represents typical home prices than the average (mean) that can be skewed by very high-end sales.
- MSPUS (New Homes): The Federal Reserve's median new home price series (MSPUS) tracks the median sale price of newly constructed single-family homes, reflecting builder pricing and new home market conditions.
- Case-Shiller Index: The S&P Case-Shiller indices use a repeat-sales methodology, tracking price changes of the same properties over time to isolate pure price appreciation from changes in home quality or mix.
- Regional Variation: Home prices vary dramatically by region due to land costs, construction costs, local economies, zoning regulations, and climate. The West and Northeast typically command the highest prices.
- Seasonal Patterns: Home prices typically peak in summer months (June-August) and reach lows in winter (December-February), reflecting seasonal demand patterns. Year-over-year comparisons help account for seasonality.
What Affects Home Prices
- Interest Rates: Mortgage rates directly impact affordability. Lower rates increase purchasing power, allowing buyers to qualify for more expensive homes and driving up prices.
- Housing Supply: The balance between inventory and demand (measured in "months of supply") is a primary driver. Tight supply with high demand pushes prices upward.
- Employment & Income: Job growth, low unemployment, and rising wages increase the pool of qualified buyers and their purchasing capacity, supporting price appreciation.
- Population & Migration: Population growth, whether from natural increase or migration (domestic and international), creates fundamental demand for housing that sustains price levels.
- New Construction: Building activity affects future supply. When construction lags population growth, existing homes become more scarce, driving up prices. Housing starts and new home sales are leading indicators.
Frequently Asked Questions
Common questions about home price data and market indicators
What is the current median home price in the US?
As of January 2026, the national median home sale price is $403,200, according to Federal Reserve data (FRED series MSPUS). This reflects the median price of new homes sold in the United States and is updated quarterly.
Are home prices going up or down in 2026?
Based on Federal Reserve data, the national median home price is down 2.21% month-over-month and down 3.66% year-over-year as of January 2026. Regional trends vary significantly, with some areas experiencing stronger appreciation than others.
Which region has the highest home prices?
The West consistently has the highest median home prices among U.S. census regions, currently at $584,640. The Midwest has the lowest median at $330,624, while the South offers moderately priced homes at $370,944.
What is a normal months supply of homes?
A balanced housing market typically has 4-6 months of supply. Below 3 months indicates a strong seller's market with rising prices, multiple offers, and limited inventory for buyers. Above 6 months indicates a buyer's market with more options, longer listing times, and greater negotiating power for purchasers.
How often does home price data update?
The national median home price data from FRED (series MSPUS) updates quarterly. Regional median prices (MSPNORTHEAST, MSPMIDWEST, MSPSOUTH, MSPWEST) update quarterly. Housing activity data such as new home sales (HSN1F), existing home sales (EXHOSLUSM495S), and housing starts (HOUST) update monthly.
Data Sources & Updates
Federal Reserve Economic Data (FRED)
- Median Home Price (National): Series MSPUS — Quarterly data
- Case-Shiller National Index: Series CSUSHPINSA — Monthly data
- New Home Sales: Series HSN1F — Monthly, annualized rate (thousands)
- Existing Home Sales: Series EXHOSLUSM495S — Monthly, annualized rate (thousands)
- Housing Starts: Series HOUST — Monthly, thousands of units
- Months Supply: Series MSACSR — Monthly data
- Northeast Region: Estimated from MSPUS using a 1.35x multiplier
- Midwest Region: Estimated from MSPUS using a 0.82x multiplier
- South Region: Estimated from MSPUS using a 0.92x multiplier
- West Region: Estimated from MSPUS using a 1.45x multiplier
Update Frequency & Notes
- National median price (MSPUS) updates quarterly
- Case-Shiller indices update monthly with a 1-month lag
- Home sales, starts, and supply data update monthly
- All data reflects the most recent observations available from FRED
- Price data shown is in current nominal USD (not inflation-adjusted)
- Seasonal adjustments are applied where available in source data
Note: Prices shown are national averages and medians based on publicly available Federal Reserve data. Actual home prices vary significantly by location, property type, size, amenities, and local market conditions. Always consult local real estate professionals for specific transactions.