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 Q4 2024 about sales, median, housing, and USA.

Average House Prices in the United States increased to 510000 USD in January from 509700 USD in December of 2024. This dataset includes a chart with historical data for the United States New Home Average Sales Price.

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.

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 427,400 U.S. dollars. That was a decline of nearly 30,000 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.

Key information about House Prices Growth

• US house prices grew 5.2% YoY in Sep 2024, following an increase of 6.2% YoY in the previous quarter.
• YoY growth data is updated quarterly, available from Mar 1992 to Sep 2024, with an average growth rate of 5.5%.
• House price data reached an all-time high of 17.7% in Sep 2021 and a record low of -12.4% in Dec 2008.

Single Family Home Prices in the United States increased to 398400 USD in February from 393400 USD in January of 2025. This dataset provides - United States Existing Single Family Home Prices- actual values, historical data, forecast, chart, statistics, economic calendar and news.

House Price Index YoY in the United States remained unchanged at 4.80 percent in January. This dataset includes a chart with historical data for the United States FHFA House Price Index YoY.

Median Home Sale Price: All Residential: Batavia, NY data was reported at 155.000 USD th in Jul 2020. This records an increase from the previous number of 130.000 USD th for Jun 2020. Median Home Sale Price: All Residential: Batavia, NY data is updated monthly, averaging 106.000 USD th from Feb 2012 (Median) to Jul 2020, with 102 observations. The data reached an all-time high of 155.000 USD th in Jul 2020 and a record low of 65.000 USD th in Feb 2012. Median Home Sale Price: All Residential: Batavia, NY data remains active status in CEIC and is reported by Redfin. The data is categorized under Global Database’s United States – Table US.EB056: Median Home Sale Price: by Metropolitan Areas.

Graph and download economic data for Average Sales Price for New Houses Sold in the United States (ASPNHSUS) from Jan 1975 to Feb 2025 about new, sales, housing, and USA.

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

This statistic shows the average property price in the United States in 2011, by property type. Damaged REOs cost an average of 102,149 U.S. dollars in the U.S. that year. The abbreviation REO stands for real estate owned properties.

Median Home Sale Price: All Residential: Bangor, ME data was reported at 164.000 USD th in Jul 2020. This records a decrease from the previous number of 181.000 USD th for Jun 2020. Median Home Sale Price: All Residential: Bangor, ME data is updated monthly, averaging 140.000 USD th from May 2015 (Median) to Jul 2020, with 63 observations. The data reached an all-time high of 181.000 USD th in Jun 2020 and a record low of 106.000 USD th in Feb 2017. Median Home Sale Price: All Residential: Bangor, ME data remains active status in CEIC and is reported by Redfin. The data is categorized under Global Database’s United States – Table US.EB056: Median Home Sale Price: by Metropolitan Areas.

Median Home Sale Price: All Residential: Bennington, VT data was reported at 255.000 USD th in Jul 2020. This records a decrease from the previous number of 260.000 USD th for Jun 2020. Median Home Sale Price: All Residential: Bennington, VT data is updated monthly, averaging 200.000 USD th from Feb 2012 (Median) to Jul 2020, with 102 observations. The data reached an all-time high of 308.000 USD th in Mar 2020 and a record low of 143.000 USD th in Sep 2012. Median Home Sale Price: All Residential: Bennington, VT data remains active status in CEIC and is reported by Redfin. The data is categorized under Global Database’s United States – Table US.EB056: Median Home Sale Price: by Metropolitan Areas.

Graph and download economic data for Median Sales Price for New Houses Sold in the United States (MSPNHSUSA) from 1963 to 2024 about new, sales, median, housing, price, and USA.

New Home Sales in the United States increased to 676 Thousand units in February from 664 Thousand units in January of 2025. This dataset provides the latest reported value for - United States New Home Sales - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Graph and download economic data for Real Residential Property Prices for United States (QUSR628BIS) from Q1 1970 to Q3 2024 about residential, HPI, housing, real, price index, indexes, price, and USA.

Graph and download economic data for Median Sales Price of Existing Single-Family Homes (HSFMEDUSM052N) from Feb 2024 to Feb 2025 about 1-unit structures, family, sales, median, housing, price, and USA.

Graph and download economic data for Median Sales Price of Existing Homes in Midwest Census Region (HOSMEDUSMWM052N) from Feb 2024 to Feb 2025 about Midwest Census Region, sales, median, housing, price, and USA.

United States Median Home Sale Price: sa: All Residential: Burlington, VT data was reported at 312.000 USD th in Jul 2020. This records an increase from the previous number of 309.000 USD th for Jun 2020. United States Median Home Sale Price: sa: All Residential: Burlington, VT data is updated monthly, averaging 257.000 USD th from Feb 2012 (Median) to Jul 2020, with 102 observations. The data reached an all-time high of 315.000 USD th in Jan 2020 and a record low of 229.000 USD th in Sep 2013. United States Median Home Sale Price: sa: All Residential: Burlington, VT data remains active status in CEIC and is reported by Redfin. The data is categorized under Global Database’s United States – Table US.EB057: Median Home Sale Price: by Metropolitan Areas: Seasonally Adjusted.