With the acceleration of urbanization process and fluctuations in real estate prices, housing problem has become an urgent problem that hinders the improvement of people's living standards. Based on the panel data of 31 provinces (excluding Hong Kong, Macao and Taiwan) in China from 2001 to 2016, this paper established a spatial econometric model to analyze the impact of urbanization on housing prices. It found that there are regional differences in the impact of urbanization on housing prices. there are obvious positive effects in the eastern and central regions, negative effects in western regions, and no significant effects in northeast China. In addition, the current house price is also affected by factors such as the previous house price, per capita GDP, and household consumption level. This study is helpful to understand the relationship between urbanization level and housing prices, and maintain the stable estate prices in various regions.