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 Average Sales Price of Houses Sold for the United States (ASPUS) from Q1 1963 to Q2 2025 about sales, housing, and USA.

The price of existing dwellings in the UK increased significantly between 1990 and 2024. Existing housing reached a value of 335,000 British pounds in 2024. That was slightly higher than the previous year, when house prices were 331,000 pounds, but a substantial increase since 2019 when prices started to rise rapidly. Overall, flats or maisonettes in converted houses were the most affordable housing type in the UK in 2024.

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 Median Sales Price of Houses Sold for the United States (MSPUS) from Q1 1963 to Q2 2025 about sales, median, housing, and USA.

The price of existing dwelling units in Great Britain significantly grew between 1990 and 2023. The simple average price of existing homes amounted to ******* British pounds in 2023. That was a decrease of ****** British pounds from a year ago, when prices were are their peak.

Average House Prices in Canada decreased to 688600 CAD in June from 690200 CAD in May of 2025. This dataset includes a chart with historical data for Canada Average House Prices.

The median sales price of new homes sold in the United States increased steadily from 1965 to 2023. In 2023, a newly built home cost approximately ******* U.S. dollars. That was a decline of nearly ****** U.S. dollars and the first decrease since 2018. Prices varied greatly across different regions in the country, with the most expensive housing found in the Northeast region.

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.

House Price Index YoY in the United States decreased to 2.80 percent in May from 3.20 percent in April of 2025. This dataset includes a chart with historical data for the United States FHFA House Price Index YoY.

House Price Index: Annual: Semi Detached House: Johor data was reported at 143.900 1990=100 in 2001. This records a decrease from the previous number of 145.400 1990=100 for 2000. House Price Index: Annual: Semi Detached House: Johor data is updated yearly, averaging 130.650 1990=100 from Dec 1988 (Median) to 2001, with 14 observations. The data reached an all-time high of 150.400 1990=100 in 1997 and a record low of 85.200 1990=100 in 1988. House Price Index: Annual: Semi Detached House: Johor data remains active status in CEIC and is reported by Valuation and Property Services Department, Ministry of Finance. The data is categorized under Global Database’s Malaysia – Table MY.EB003: House Price Index: 1990=100.

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.

Graph and download economic data for S&P CoreLogic Case-Shiller WA-Seattle Home Price Index (SEXRNSA) from Jan 1990 to Apr 2025 about Seattle, WA, HPI, housing, price index, indexes, price, and USA.

United States Median Existing Home Price: MA: Amarillo data was reported at 165.700 USD th in Sep 2018. This records an increase from the previous number of 158.100 USD th for Jun 2018. United States Median Existing Home Price: MA: Amarillo data is updated quarterly, averaging 97.850 USD th from Jun 1990 (Median) to Sep 2018, with 114 observations. The data reached an all-time high of 165.700 USD th in Sep 2018 and a record low of 55.500 USD th in Jun 1990. United States Median Existing Home Price: MA: Amarillo data remains active status in CEIC and is reported by National Association of Realtors. The data is categorized under Global Database’s United States – Table US.EB007: Median Existing Home Price: by Metropolitan Area.

House price index in France, December, 2024 The most recent value is 126.58 index points as of Q4 2024, a decline compared to the previous value of 127.89 index points. Historically, the average for France from Q1 1990 to Q4 2024 is 82.14 index points. The minimum of 39.97 index points was recorded in Q1 1990, while the maximum of 134.6 index points was reached in Q3 2022. | TheGlobalEconomy.com

Housing Index in Hong Kong increased to 138.84 points in July 27 from 137.76 points in the previous week. This dataset provides - Hong Kong House Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

House Price Index: Malaysia data was reported at 199.300 1990=100 in Dec 2001. This records a decrease from the previous number of 200.300 1990=100 for Jun 2001. House Price Index: Malaysia data is updated semiannually, averaging 198.900 1990=100 from Jun 1997 (Median) to Dec 2001, with 10 observations. The data reached an all-time high of 217.600 1990=100 in Dec 1997 and a record low of 173.600 1990=100 in Jun 1999. House Price Index: Malaysia data remains active status in CEIC and is reported by Valuation and Property Services Department, Ministry of Finance. The data is categorized under Global Database’s Malaysia – Table MY.EB003: House Price Index: 1990=100. Rebased from 1990=100 to 2000=100 . Replacement Series ID:31884301.

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.

Real residential property prices Y-on-Y, percent change in Canada, March, 2025 The most recent value is -3.42 percent as of Q1 2025, an increase compared to the previous value of -3.43 percent. Historically, the average for Canada from Q1 1990 to Q1 2025 is 2.57 percent. The minimum of -18.87 percent was recorded in Q1 2023, while the maximum of 18.57 percent was reached in Q1 2022. | TheGlobalEconomy.com