Graph and download economic data for Housing Inventory: Median Listing Price in Massachusetts (MEDLISPRIMA) from Jul 2016 to Feb 2025 about MA, listing, median, price, and USA.

The S&P Case Shiller Boston Home Price Index has risen steadily since February 2020. The index measures changes in the prices of existing single-family homes. The index value was equal to 100 as of January 2000, so if the index value is equal to 130 in a given month, for example, it means that the house prices have increased by 30 percent since 2000. The value of the S&P Case Shiller Boston Home Price Index amounted to nearly 335.36 in August 2024. That was above the national average.

Graph and download economic data for All-Transactions House Price Index for Nantucket County, MA (ATNHPIUS25019A) from 1986 to 2021 about Nantucket County, MA; MA; HPI; housing; price index; indexes; price; and USA.

The U.S. housing market continues to evolve, with the median home price forecast to reach 426,000 U.S. dollars by the second quarter of 2026. This projection comes after a period of significant growth and recent fluctuations, reflecting the complex interplay of economic factors affecting the real estate sector. The rising costs have not only impacted home prices, but also down payments, with the median down payment more than doubling since 2012. Regional variations in housing costs Home prices and down payments vary dramatically across the United States. While the national median down payment stood at approximately 26,700 U.S. dollars in early 2024, homebuyers in states like California, Massachusetts, and Hawaii faced down payments exceeding 74,000 U.S. dollars. This disparity highlights the challenges of homeownership in high-cost markets and underscores the importance of location in determining housing affordability. Market dynamics and future outlook The housing market has shown signs of cooling after years of rapid growth, with more modest price increases of 4.8 percent in 2022 and 6.5 percent in 2023. This slowdown can be attributed in part to rising mortgage rates, which have tempered demand. Despite these challenges, most states continued to see year-over-year price growth in the fourth quarter of 2023, with Rhode Island and Vermont leading the pack at over 13 percent appreciation. As the market adjusts to new economic realities, potential homebuyers and investors alike will be watching closely for signs of stabilization or renewed growth in the coming years.

Graph and download economic data for Housing Inventory: Median Listing Price per Square Feet Year-Over-Year in Middlesex County, MA (MEDLISPRIPERSQUFEEYY25017) from Jul 2017 to Feb 2025 about Middlesex County, MA; Boston; MA; square feet; listing; median; price; and USA.

House prices grew year-on-year in most states in the U.S. in the third quarter of 2024. The District of Columbia was the only exception, with a decline of three percent. The annual appreciation for single-family housing in the U.S. was 0.71 percent, while in Hawaii—the state where homes appreciated the most—the increase exceeded 10 percent. How have home prices developed in recent years? House price growth in the U.S. has been going strong for years. In 2024, the median sales price of a single-family home exceeded 413,000 U.S. dollars, up from 277,000 U.S. dollars five years ago. One of the factors driving house prices was the cost of credit. The record-low federal funds effective rate allowed mortgage lenders to set mortgage interest rates as low as 2.3 percent. With interest rates on the rise, home buying has also slowed, causing fluctuations in house prices. Why are house prices growing? Many markets in the U.S. are overheated because supply has not been able to keep up with demand. How many homes enter the housing market depends on the construction output, whereas the availability of existing homes for purchase depends on many other factors, such as the willingness of owners to sell. Furthermore, growing investor appetite in the housing sector means that prospective homebuyers have some extra competition to worry about. In certain metros, for example, the share of homes bought by investors exceeded 20 percent in 2024.

The U.S. housing market has slowed, after 13 consecutive years of rising home prices. In 2021, house prices surged by an unprecedented 18 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 4.2 percent. That was lower than the long-term average of 4.4 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 2.96 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 389,000 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 All-Transactions House Price Index for Worcester, MA-CT (MSA) (ATNHPIUS49340Q) from Q2 1979 to Q4 2024 about Worcester, MA, 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 168 U.S. dollars per square foot in 2022. In 2024, the average sales price of a new home exceeded 500,000 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 12 percent year-on-year, and in 2022, the increase was even higher, at close to 17 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 three 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.

Graph and download economic data for All-Transactions House Price Index for Springfield, MA (MSA) (ATNHPIUS44140Q) from Q2 1979 to Q4 2024 about Springfield, MA, appraisers, HPI, housing, price index, indexes, price, and USA.

United States Median Existing Home Price: MA: Gainesville data was reported at 222.800 USD th in Mar 2018. This records an increase from the previous number of 215.000 USD th for Dec 2017. United States Median Existing Home Price: MA: Gainesville data is updated quarterly, averaging 154.300 USD th from Mar 1989 (Median) to Mar 2018, with 117 observations. The data reached an all-time high of 247.100 USD th in Mar 2007 and a record low of 69.000 USD th in Jun 1989. United States Median Existing Home Price: MA: Gainesville data remains active status in CEIC and is reported by National Association of Realtors. The data is categorized under Global Database’s USA – Table US.EB007: Median Existing Home Price: by Metropolitan Area.

Graph and download economic data for S&P CoreLogic Case-Shiller MA-Boston Home Price Index (BOXRSA) from Jan 1987 to Dec 2024 about Boston, NH, MA, HPI, housing, price index, indexes, price, and USA.

West Virginia and Kansas had the lowest cost of living across all U.S. states, with composite costs being half of those found in Hawaii. This was according to a composite index that compares prices for various goods and services on a state-by-state basis. In West Virginia, the cost of living index amounted to 84.8 - well below the national benchmark of 100. Nevada - which had an index value of 100.1 - was only slightly above that benchmark. Expensive places to live included Hawaii, Massachusetts, and California Housing costs in the U.S. Housing is usually the highest expense in a household’s budget. In 2023, the average house sold for approximately 427,000 U.S. dollars, but house prices in the Northeast and West regions were significantly higher. Conversely, the South had some of the least expensive housing. In West Virginia, Mississippi, and Louisiana, the median price of the typical single-family home was less than 200,000 U.S. dollars. That makes living costs in these states significantly lower than in states such as Hawaii and California, where housing is much more expensive. What other expenses affect the cost of living? Utility costs such as electricity, natural gas, water, and internet also influence the cost of living. In Alaska, Hawaii, and Connecticut, the average monthly utility cost exceeded 500 U.S. dollars. That was because of the significantly higher prices for electricity and natural gas in these states.

Median Existing Home Price: MA: Charleston North data was reported at 134.200 USD th in Mar 2018. This records a decrease from the previous number of 136.100 USD th for Dec 2017. Median Existing Home Price: MA: Charleston North data is updated quarterly, averaging 111.250 USD th from Mar 1989 (Median) to Mar 2018, with 114 observations. The data reached an all-time high of 141.800 USD th in Jun 2016 and a record low of 59.500 USD th in Dec 1990. Median Existing Home Price: MA: Charleston North data remains active status in CEIC and is reported by National Association of Realtors. The data is categorized under Global Database’s USA – Table US.EB007: Median Existing Home Price: by Metropolitan Area.

Graph and download economic data for Housing Inventory: Median Days on Market Year-Over-Year in Boston-Cambridge-Newton, MA-NH (CBSA) (MEDDAYONMARYY14460) from Jul 2017 to Feb 2025 about Boston, NH, MA, median, and USA.

United States Median Home Sale Price: Single Family: Massachusetts data was reported at 521.000 USD th in Jul 2020. This records an increase from the previous number of 495.000 USD th for Jun 2020. United States Median Home Sale Price: Single Family: Massachusetts data is updated monthly, averaging 386.000 USD th from Feb 2012 (Median) to Jul 2020, with 102 observations. The data reached an all-time high of 521.000 USD th in Jul 2020 and a record low of 277.000 USD th in Feb 2012. United States Median Home Sale Price: Single Family: Massachusetts data remains active status in CEIC and is reported by Redfin. The data is categorized under Global Database’s United States – Table US.EB055: Median Home Sale Price: by States.

In 2020, Nantucket, Massachusetts, had the most expensive vacation homes with the median sales price reaching 2.3 million U.S. dollars. Another Massachusetts county, Barnstable, ranked third with the median vacation home selling for 475,000 U.S. dollars.

United States Median Existing Home Price: MA: West data was reported at 395.500 USD th in Sep 2018. This records a decrease from the previous number of 398.300 USD th for Jun 2018. United States Median Existing Home Price: MA: West data is updated quarterly, averaging 214.200 USD th from Mar 1989 (Median) to Sep 2018, with 119 observations. The data reached an all-time high of 398.300 USD th in Jun 2018 and a record low of 135.500 USD th in Dec 1990. United States Median Existing Home Price: MA: West 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.

United States Median Existing Home Price: MA: Atlanta-Sandy Springs-Marietta data was reported at 224.100 USD th in Sep 2018. This records a decrease from the previous number of 228.800 USD th for Jun 2018. United States Median Existing Home Price: MA: Atlanta-Sandy Springs-Marietta data is updated quarterly, averaging 125.600 USD th from Mar 1989 (Median) to Sep 2018, with 119 observations. The data reached an all-time high of 228.800 USD th in Jun 2018 and a record low of 80.300 USD th in Mar 1989. United States Median Existing Home Price: MA: Atlanta-Sandy Springs-Marietta 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.

United States Median Existing Home Price: MA: Memphis data was reported at 164.300 USD th in Mar 2018. This records a decrease from the previous number of 166.700 USD th for Dec 2017. United States Median Existing Home Price: MA: Memphis data is updated quarterly, averaging 119.300 USD th from Mar 1989 (Median) to Mar 2018, with 117 observations. The data reached an all-time high of 172.700 USD th in Sep 2017 and a record low of 77.000 USD th in Mar 1989. United States Median Existing Home Price: MA: Memphis data remains active status in CEIC and is reported by National Association of Realtors. The data is categorized under Global Database’s USA – Table US.EB007: Median Existing Home Price: by Metropolitan Area.