The year-end value of the S&P Case Shiller National Home Price Index amounted to 321.45 in 2024. The index value was equal to 100 as of January 2000, so if the index value is equal to 130 in a given year, for example, it means that the house prices increased by 30 percent since 2000. S&P/Case Shiller U.S. home indices – additional informationThe S&P Case Shiller National Home Price Index is calculated on a monthly basis and is based on the prices of single-family homes in nine U.S. Census divisions: New England, Middle Atlantic, East North Central, West North Central, South Atlantic, East South Central, West South Central, Mountain and Pacific. The index is the leading indicator of the American housing market and one of the indicators of the state of the broader economy. The index illustrates the trend of home prices and can be helpful during house purchase decisions. When house prices are rising, a house buyer might want to speed up the house purchase decision as the transaction costs can be much higher in the future. The S&P Case Shiller National Home Price Index has been on the rise since 2011.The S&P Case Shiller National Home Price Index is one of the indices included in the S&P/Case-Shiller Home Price Index Series. Other indices are the S&P/Case Shiller 20-City Composite Home Price Index, the S&P/Case Shiller 10-City Composite Home Price Index and twenty city composite indices.

Graph and download economic data for All-Transactions House Price Index for the United States (USSTHPI) from Q1 1975 to Q1 2025 about appraisers, HPI, housing, price index, indexes, price, and USA.

The number of U.S. home sales in the United States declined in 2024, after soaring in 2021. A total of four million transactions of existing homes, including single-family, condo, and co-ops, were completed in 2024, down from 6.12 million in 2021. According to the forecast, the housing market is forecast to head for recovery in 2025, despite transaction volumes expected to remain below the long-term average. Why have home sales declined? The housing boom during the coronavirus pandemic has demonstrated that being a homeowner is still an integral part of the American dream. Nevertheless, sentiment declined in the second half of 2022 and Americans across all generations agreed that the time was not right to buy a home. A combination of factors has led to house prices rocketing and making homeownership unaffordable for the average buyer. A survey among owners and renters found that the high home prices and unfavorable economic conditions were the two main barriers to making a home purchase. People who would like to purchase their own home need to save up a deposit, have a good credit score, and a steady and sufficient income to be approved for a mortgage. In 2022, mortgage rates experienced the most aggressive increase in history, making the total cost of homeownership substantially higher. Are U.S. home prices expected to fall? The median sales price of existing homes stood at 413,000 U.S. dollars in 2024 and was forecast to increase slightly until 2026. The development of the S&P/Case Shiller U.S. National Home Price Index shows that home prices experienced seven consecutive months of decline between June 2022 and January 2023, but this trend reversed in the following months. Despite mild fluctuations throughout the year, home prices in many metros are forecast to continue to grow, albeit at a much slower rate.

The U.S. housing market has slowed, after ** consecutive years of rising home prices. In 2021, house prices surged by an unprecedented ** percent, marking the highest increase on record. However, the market has since cooled, with the Freddie Mac House Price Index showing more modest growth between 2022 and 2024. In 2024, home prices increased by *** percent. That was lower than the long-term average of *** percent since 1990. Impact of mortgage rates on homebuying The recent cooling in the housing market can be partly attributed to rising mortgage rates. After reaching a record low of **** percent in 2021, the average annual rate on a 30-year fixed-rate mortgage more than doubled in 2023. This significant increase has made homeownership less affordable for many potential buyers, contributing to a substantial decline in home sales. Despite these challenges, forecasts suggest a potential recovery in the coming years. How much does it cost to buy a house in the U.S.? In 2023, the median sales price of an existing single-family home reached a record high of over ******* U.S. dollars. Newly built homes were even pricier, despite a slight decline in the median sales price in 2023. Naturally, home prices continue to vary significantly across the country, with West Virginia being the most affordable state for homebuyers.

Graph and download economic data for Real Residential Property Prices for China (QCNR628BIS) from Q2 2005 to Q1 2025 about China, residential, HPI, housing, real, price index, indexes, and price.

The average sales price of new homes in the United States experienced a slight decrease in 2024, dropping to 512,2000 U.S. dollars from the peak of 521,500 U.S. dollars in 2022. This decline came after years of substantial price increases, with the average price surpassing 400,000 U.S. dollars for the first time in 2021. The recent cooling in the housing market reflects broader economic trends and changing consumer sentiment towards homeownership. Factors influencing home prices and affordability The rapid rise in home prices over the past few years has been driven by several factors, including historically low mortgage rates and increased demand during the COVID-19 pandemic. However, the market has since slowed down, with the number of home sales declining by over two million between 2021 and 2023. This decline can be attributed to rising mortgage rates and decreased affordability. The Housing Affordability Index hit a record low of 98.1 in 2023, indicating that the median-income family could no longer afford a median-priced home. Future outlook for the housing market Despite the recent cooling, experts forecast a potential recovery in the coming years. The Freddie Mac House Price Index showed a growth of 6.5 percent in 2023, which is still above the long-term average of 4.4 percent since 1990. However, homebuyer sentiment remains low across all age groups, with people aged 45 to 64 expressing the most pessimistic outlook. The median sales price of existing homes is expected to increase slightly until 2025, suggesting that affordability challenges may persist in the near future.

Graph and download economic data for All-Transactions House Price Index for California (CASTHPI) from Q1 1975 to Q1 2025 about appraisers, CA, HPI, housing, price index, indexes, price, and USA.

Graph and download economic data for All-Transactions House Price Index for Florida (FLSTHPI) from Q1 1975 to Q1 2025 about appraisers, FL, HPI, housing, price index, indexes, price, and USA.

The U.S. housing market has seen significant price growth since 2011, with the median sales price of existing single-family homes reaching a record high of ******* U.S. dollars in 2024. This represents a substantial increase of ******* over the past five years, highlighting the rapid appreciation of home values across the country. The trend of rising prices can also be observed in the new homes sold. Regional variations and housing shortage While the national median price provides a broad overview, regional differences in home prices are notable. The West remains the most expensive region, with prices twice higher than in the more affordable Midwest. This disparity persists despite efforts to increase housing supply. In 2024, approximately ******* building permits for single-family housing units were granted, showing a slight increase from previous years but still well below the 2005 peak of **** million permits. The ongoing housing shortage continues to drive prices upward across all regions. Market dynamics and future outlook The number of existing home sales has plummeted since 2020, reflecting the growing cost of homeownership. Factors such as high home prices, unfavorable economic conditions, and aggressive increases in mortgage rates have contributed to affordability challenges for many potential homebuyers. Despite these challenges, forecasts suggest a potential recovery in the housing market by 2025, though transaction volumes are expected to remain below long-term averages.

Graph and download economic data for All-Transactions House Price Index for Seattle-Bellevue-Kent, WA (MSAD) (ATNHPIUS42644Q) from Q4 1975 to Q1 2025 about Seattle, WA, appraisers, HPI, housing, price index, indexes, price, and USA.

The average price per square foot of floor space in new single-family housing in the United States decreased after the great financial crisis, followed by several years of stagnation. Since 2012, the price has continuously risen, hitting *** U.S. dollars per square foot in 2022. In 2024, the average sales price of a new home exceeded ******* U.S. dollars. Development of house sales in the U.S. One of the reasons for rising property prices is the gradual growth of house sales between 2011 and 2020. This period was marked by the gradual recovery following the subprime mortgage crisis and a growing housing sentiment. Another significant factor for the housing demand was the growing number of new household formations each year. Despite this trend, housing transactions plummeted in 2021, amid soaring prices and borrowing costs. In 2021, the average construction cost for single-family housing rose by nearly ** percent year-on-year, and in 2022, the increase was even higher, at close to ** percent. Financing a house purchase Mortgage interest rates in the U.S. rose dramatically in 2022 and remained elevated until 2024. In 2020, a homebuyer could lock in a 30-year fixed interest rate of under ***** percent, whereas in 2024, the average rate for the same mortgage type was more than twice higher. That has led to a decline in homebuyer sentiment, and an increasing share of the population pessimistic about buying a home in the current market.

United States - Households; Owner-Occupied Real Estate Including Vacant Land and Mobile Homes at Market Value, Transactions was 316234.00000 Mil. of $ in January of 2025, according to the United States Federal Reserve. Historically, United States - Households; Owner-Occupied Real Estate Including Vacant Land and Mobile Homes at Market Value, Transactions reached a record high of 459553.00000 in July of 2005 and a record low of -16620.00000 in April of 2010. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Households; Owner-Occupied Real Estate Including Vacant Land and Mobile Homes at Market Value, Transactions - last updated from the United States Federal Reserve on July of 2025.

The residential vacancy rate is the percentage of residential units that are unoccupied, or vacant, in a given year. The U.S. Census Bureau defines occupied housing units as “owner-occupied” or “renter-occupied.” Vacant housing units are not classified by tenure in this way, as they are not occupied by an owner or renter.

The residential vacancy rate serves as an indicator of the condition of the area’s housing market. Low residential vacancy rates indicate that demand for housing is high compared to the housing supply. However, the aggregate residential vacancy rate is lacking in granularity. For example, the housing market for rental units in the area and the market for buying a unit in the same area may be very different, and the aggregate rate will not show those distinct conditions. Furthermore, the vacancy rate may be high, or low, for a variety of reasons. A high vacancy rate may result from a falling population, but it may also result from a recent construction spree that added many units to the total stock.

The residential vacancy rate in Champaign County appears to have fluctuated between 8% and 14% from 2005 through 2022, reaching a peak near 14% in 2019. In 2023, this rate dropped to about 7%, its lowest value since 2005. However, this rate was calculated using the American Community Survey’s (ACS) estimated number of vacant houses per year, which has year-to-year fluctuations that are largely not statistically significant. Thus, we cannot establish a trend for this data.

The residential vacancy rate data shown here was calculated using the estimated total housing units and estimated vacant housing units from the U.S. Census Bureau’s American Community Survey 1-Year Estimates, which are released annually.

As with any datasets that are estimates rather than exact counts, it is important to take into account the margins of error (listed in the column beside each figure) when drawing conclusions from the data.

Due to the impact of the COVID-19 pandemic, instead of providing the standard 1-year data products, the Census Bureau released experimental estimates from the 1-year data in 2020. This includes a limited number of data tables for the nation, states, and the District of Columbia. The Census Bureau states that the 2020 ACS 1-year experimental tables use an experimental estimation methodology and should not be compared with other ACS data. For these reasons, and because data is not available for Champaign County, no data for 2020 is included in this Indicator.

For interested data users, the 2020 ACS 1-Year Experimental data release includes a dataset on Occupancy Status.

Sources: U.S. Census Bureau; American Community Survey, 2023 American Community Survey 1-Year Estimates, Table B25002, generated by CCRPC staff; using data.census.gov; (17 October 2024).; U.S. Census Bureau; American Community Survey, 2022 American Community Survey 1-Year Estimates, Table B25002, generated by CCRPC staff; using data.census.gov; (25 September 2023).; U.S. Census Bureau; American Community Survey, 2021 American Community Survey 1-Year Estimates, Table B25002, generated by CCRPC staff; using data.census.gov; (4 October 2022).; U.S. Census Bureau; American Community Survey, 2019 American Community Survey 1-Year Estimates, Table B25002, generated by CCRPC staff; using data.census.gov; (8 June 2021).; U.S. Census Bureau; American Community Survey, 2018 American Community Survey 1-Year Estimates, Table B25002, generated by CCRPC staff; using data.census.gov; (8 June 2021).; U.S. Census Bureau; American Community Survey, 2017 American Community Survey 1-Year Estimates, Table B25002, generated by CCRPC staff; using American FactFinder; (13 September 2018).; U.S. Census Bureau; American Community Survey, 2016 American Community Survey 1-Year Estimates, Table B25002, generated by CCRPC staff; using American FactFinder; (14 September 2017).; U.S. Census Bureau; American Community Survey, 2015 American Community Survey 1-Year Estimates, Table B25002, generated by CCRPC staff; using American FactFinder; (19 September 2016).; U.S. Census Bureau; American Community Survey, 2014 American Community Survey 1-Year Estimates, Table B25002; generated by CCRPC staff; using American FactFinder; (16 March 2016).; U.S. Census Bureau; American Community Survey, 2013 American Community Survey 1-Year Estimates, Table SB25002; generated by CCRPC staff; using American FactFinder; (16 March 2016).; U.S. Census Bureau; American Community Survey, 2012 American Community Survey 1-Year Estimates, Table B25002; generated by CCRPC staff; using American FactFinder; (16 March 2016).; U.S. Census Bureau; American Community Survey, 2011 American Community Survey 1-Year Estimates, Table B25002; generated by CCRPC staff; using American FactFinder; (16 March 2016).; U.S. Census Bureau; American Community Survey, 2010 American Community Survey 1-Year Estimates, Table B25002; generated by CCRPC staff; using American FactFinder; (16 March 2016).; U.S. Census Bureau; American Community Survey, 2009 American Community Survey 1-Year Estimates, Table B25002; generated by CCRPC staff; using American FactFinder; (16 March 2016).; U.S. Census Bureau; American Community Survey, 2008 American Community Survey 1-Year Estimates, Table B25002; generated by CCRPC staff; using American FactFinder; (16 March 2016).; U.S. Census Bureau; American Community Survey, 2007 American Community Survey 1-Year Estimates, Table B25002; generated by CCRPC staff; using American FactFinder; (16 March 2016).; U.S. Census Bureau; American Community Survey, 2006 American Community Survey 1-Year Estimates, Table B25002; generated by CCRPC staff; using American FactFinder; (16 March 2016).; U.S. Census Bureau; American Community Survey, 2005 American Community Survey 1-Year Estimates, Table B25002; generated by CCRPC staff; using American FactFinder; (16 March 2016).

Real residential property prices Y-on-Y, percent change in the USA, December, 2024 The most recent value is 0.68 percent as of Q4 2024, a decline compared to the previous value of 0.93 percent. Historically, the average for the USA from Q1 1990 to Q4 2024 is 1.75 percent. The minimum of -19.41 percent was recorded in Q3 2008, while the maximum of 12.83 percent was reached in Q2 2005. | TheGlobalEconomy.com

Real Residential Property Prices for United States was 0.67770 % per Annum in October of 2024, according to the United States Federal Reserve. Historically, Real Residential Property Prices for United States reached a record high of 12.82620 in April of 2005 and a record low of -19.40680 in July of 2008. Trading Economics provides the current actual value, an historical data chart and related indicators for Real Residential Property Prices for United States - last updated from the United States Federal Reserve on June of 2025.

The Housing Affordability Data System (HADS) is a set of housing unit level datasets that measures the affordability of housing units and the housing cost burdens of households, relative to area median incomes, poverty level incomes, and Fair Market Rents. The purpose of these datasets is to provide housing analysts with consistent measures of affordability and burdens over a long period. The datasets are based on the American Housing Survey (AHS) national files from 1985 through 2005 and the metropolitan files for 2002 and 2004. Users can link records in HADS files to AHS records, allowing access to all of the AHS variables. Housing-level variables include information on the number of rooms in the housing unit, the year the unit was built, whether it was occupied or vacant, whether the unit was rented or owned, whether it was a single family or multiunit structure, the number of units in the building, the current market value of the unit, and measures of relative housing costs. The dataset also includes variables describing the number of people living in the household, household income, and the type of residential area (e.g., urban or suburban).

Single-family housing construction in the U.S. fell by nearly ** billion U.S. dollars in 2023, but it is expected to increase slightly in 2024. During the coming years, the overall spending on new residential construction in the United States is also expected to recover from a decrease in value experienced in 2023 and 2024.

Graph and download economic data for All-Transactions House Price Index for Ohio (OHSTHPI) from Q1 1975 to Q1 2025 about OH, appraisers, HPI, housing, price index, indexes, price, and USA.

In 2023, the U.S. manufactured home (mobile home) market increased by 2% to $5.4B, rising for the fifth consecutive year after two years of decline. The market value increased at an average annual rate of +3.6% from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Manufactured home (mobile home) consumption peaked in 2023 and is likely to see gradual growth in the near future.

Graph and download economic data for Commercial Real Estate Prices for United States (COMREPUSQ159N) from Q1 2005 to Q3 2024 about real estate, commercial, rate, and USA.