More than 80% of metro markets in the U.S. registered home price gains in the first quarter, as the 30-year fixed mortgage rate ranged from 6.63% to 7.04%, according to the National Association of Realtors’ latest quarterly report. Eleven percent of the 228 tracked metro areas recorded double-digit price gains over the same period, down from 14% in the fourth quarter of 2024. Eight of the top 10 most expensive markets for single-family homes were in California, with the No. 4 Honolulu and No. 9 Naples markets bucking the trend. In the first quarter, the median price for a single-family home in the Naples-Marco Island market was $865,000, a 1.8% year-over-year increase. The Cape Coral-Fort Myers market saw a 3.6% drop in median price to $400,000, while the Punta Gorda market dropped 6.8% to $353,500.