U.S. Home Prices Rise Again in November as 2026 Outlook Points to More Gains

U.S. home prices moved higher again in November, even as buyer demand stayed weak. A new report from Redfin shows that the median home-sale price climbed 2.3% during the four weeks ending in mid-November, marking the largest increase in seven months.

The rise comes at a time when many buyers are still holding back. Even so, shrinking inventory continues to support prices in many markets. The upside for buyers is that price growth remains slower than wage gains and inflation, which has helped ease affordability pressure slightly compared with recent years.

Demand Slows, Inventory Tightens

Redfin’s data shows that pending home sales were down 0.8% compared with the same period in 2024, the biggest drop in four months. Many would-be buyers remain cautious due to economic uncertainty, high housing costs, and mortgage rates that have started edging up again after hitting recent lows.

Homes are also taking longer to sell. The typical property now goes under contract in about 49 days, the slowest pace for this time of year since 2019. That slowdown reflects fewer buyers actively competing, even as sellers face tighter supply conditions.

Not All Markets Are Rising

Price growth is far from uniform across the country. The median home-sale price declined in 18 of the 50 largest U.S. metro areas, the highest number of price drops seen in more than two years.

The sharpest declines were reported in Fort Worth, Texas (-3.9% year over year), Dallas (-3.3%), and Jacksonville, Florida (-3.3%). Prices also slipped in Miami (-2.5%) and Seattle (-2.2%), signaling cooling conditions in several previously strong markets.

Buyers May Find Select Opportunities

Despite rising prices nationally, some buyers may still find room to negotiate. In slower markets, sellers who need to move due to job changes or personal reasons are often more flexible on price. Well-priced homes that are move-in ready continue to attract strong interest, especially in desirable neighborhoods.

This uneven market means buyers who are prepared and flexible on location may find better value, even as overall prices trend higher.

Looking Ahead to 2026

Mortgage and housing professionals expect price growth to continue into 2026, though patterns will vary by region. Lower-cost metros are likely to see continued demand as buyers relocate in search of affordability. Higher-cost cities may experience modest price declines or flat growth before stabilizing.

Experts note that inflation, mortgage rates, insurance costs, and property taxes will all play a role in shaping prices next year. In some markets, affordability pressure may keep buyers on the sidelines longer, while others benefit from migration and limited supply.

A Market Still Adjusting

Overall, November’s data shows a housing market still finding its balance. Prices are rising again, but at a slower pace than in prior years. Inventory constraints continue to support values, even as demand remains uneven.

As 2026 approaches, the outlook points to continued price increases in many areas, offset by softening in others. For buyers and sellers alike, local conditions will matter more than ever when making housing decisions. For direct financing consultations or mortgage options for you visit 👉 Nadlan Capital Group.