US house prices still appreciated in Late-Q1 2026, but gains cooled from the pandemic-era boom and reached their slowest yearly pace since 2012.
National prices ↑<2% yearly and ↑<1% quarterly, showing continued value growth, though at a more measured pace for homeowners and buyers across the US.
Compared with pandemic-era surges, the current pace looks closer to normal, with historical appreciation described as mid-single-digit annual growth for US housing.
Higher mortgage rates, affordability challenges, and softer demand shaped the slowdown, prompting many builders to offer price concessions on new construction homes.
Most states still saw home values appreciate, supporting continued homeowner equity, home improvement spending, and confidence in housing as a long-term investment.
