US Home Prices: What the Median Misses

In Q2 2026, the US median new single-family price was $410.7K, while the existing-home median reached $435.7K, a $25K national gap that quarter.
That marked the biggest separation in national medians, extending a reversal that began in Q2 2024, when existing-home prices started topping new homes.
Many owners with pandemic-era low mortgage rates stayed put, limiting supply, while builders used smaller lots, smaller homes, and incentives to reach buyers.
The national gap did not describe every US market; regional mix, home types, lot sizes, and rising construction costs all shaped median comparisons.
By Q2 2026, new-home prices were ↓~1% yearly, while existing-home yearly growth slowed to ~2% after twelve straight quarters of increases nationally.