US home prices rise as Midwest leads national recovery
“July’s data indicates that price growth is gaining momentum, albeit unevenly,” said Thomas Malone, principal economist at Cotality.
“National appreciation reached 1.9%, outperforming June in most major metros. While prices rose just 0.1% over the month, seller concessions are opening up opportunities for buyers. This may be short-lived, however, with higher mortgage rates continuing to create a moving target for buyers, extending the uphill battle into fall.”
A new report from Clever Real Estate found that home prices in all 50 of the largest US metro areas exceeded inflation between 2011 and 2026, with Miami leading the way at nearly 344% growth.https://t.co/NGEm4grL2E
— Mortgage Professional America Magazine (@MPAMagazineUS) September 30, 2026
Midwest and Northeast lead the recovery
Chicago posted the strongest annual gain among tracked cities at 6.9%, followed by New York at 5.8% and Cleveland at 4.2%.
On a monthly basis, Cleveland led with a 1.0% rise, while New York and Chicago each added roughly 0.5%.
Those results stand in sharp contrast to markets across the West and South, where annual prices remain in negative territory. Seattle fell 1.6% year over year, with Las Vegas, Denver, Tampa, Portland and Dallas also recording annual losses.
