09/28/2026
U.S. Home Prices Ease Across Major Metros
Noticing a shift in our housing market: In Mid-Q3, the price per square foot dropped compared to last year in 36 of the 50 largest U.S. metro areas, a sign that cooling is happening across many major cities. Nationally, we saw about a 2% yearly decrease in price per square foot, marking the 10th consecutive month this trend has continued. As the quarter closed, momentum slowed, with more sellers reducing their asking prices to better align with buyers’ expectations. Higher mortgage rates have continued to put pressure on affordability, especially in regions that experienced rapid price increases during the pandemic. Many of those markets are now giving back some of their gains, supported by higher inventory levels than we saw before 2020. As a Realtor® serving MD, DC & VA for over 20 years, I’m here to help you navigate these changing conditions with confidence—whether you’re buying, selling, or investing.