Lance Lambert: Home price growth lags behind income and inflation

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26.05.2026

Lance Lambert: Home price growth lags behind income and inflation — Home price gains lag inflation, income

Lance Lambert observes that nationally aggregated nominal appreciation is currently below both nationally aggregated income growth and inflation, resulting in a mild real decline.

He also notes that affordability in the purchase market is gradually improving.

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Lambert recently reported that New Orleans metro home prices have fallen 11.9 percent from their 2022 peak. In Miami, he found that single-family home prices remained more stable than condo prices over the past year. These regional shifts come as national metrics show a mild real decline in home values.

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