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flag Home prices rose in most U.S. cities in Q3 2025, but affordability remains tough for first-time buyers.

flag In Q3 2025, home prices rose in 77% of U.S. metropolitan areas, with a median increase of 1.7% to $426,800, led by the Northeast and Midwest. flag Trenton, Lansing, and Nassau-Suffolk saw gains above 9%. flag Despite price gains, the national median mortgage payment fell to $2,187 due to lower interest rates. flag The South saw minimal growth and some declines, attributed to increased construction and job growth, which NAR views as temporary. flag First-time buyers still faced affordability challenges, spending 37.4% of income on housing, with their share dropping to a record low of 21%.

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