Home prices rose in 71% of U.S. metro areas in Q1 2026, with a national median price increase of 0.5% to $404,300, slower than the previous quarter. The Northeast and Midwest saw solid gains, while the West declined due to affordability issues. Mortgage payments eased slightly but remain high, especially for first-time buyers. Inventory increased, sales fell 3.6%, and new construction added pressure. The market is slower, more regional, and price-sensitive.