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 ***** percent. The annual appreciation for single-family housing in the U.S. was **** percent, while in Hawaii—the state where homes appreciated the most—the increase exceeded ** 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 ******* U.S. dollars, up from ******* 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 *** 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 ** percent in 2024.

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.

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

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

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

Graph and download economic data for S&P CoreLogic Case-Shiller NY-New York Home Price Index (NYXRSA) from Jan 1987 to May 2025 about New York, NY, HPI, housing, price index, indexes, price, and USA.

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

Graph and download economic data for S&P CoreLogic Case-Shiller IL-Chicago Home Price Index (CHXRSA) from Jan 1987 to May 2025 about Chicago, IL, IN, WI, HPI, housing, price index, indexes, price, and USA.

Graph and download economic data for S&P CoreLogic Case-Shiller CA-Los Angeles Home Price Index (LXXRSA) from Jan 1987 to Mar 2025 about Los Angeles, CA, HPI, housing, price index, indexes, price, and USA.

Graph and download economic data for All-Transactions House Price Index for Boston, MA (MSAD) (ATNHPIUS14454Q) from Q3 1977 to Q1 2025 about Boston, MA, appraisers, HPI, housing, price index, indexes, price, and USA.

Graph and download economic data for S&P CoreLogic Case-Shiller TX-Dallas Home Price Index (DAXRNSA) from Jan 2000 to May 2025 about Dallas, HPI, TX, housing, price index, indexes, price, and USA.

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