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.

Single Family Home Prices in the United States increased to 422800 USD in May from 414000 USD in April of 2025. This dataset provides - United States Existing Single Family Home Prices- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Average Sales Price of Houses Sold for the United States (ASPUS) from Q1 1963 to Q1 2025 about sales, housing, 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 ***** 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 Median Sales Price of Houses Sold for the United States (MSPUS) from Q1 1963 to Q1 2025 about sales, median, housing, and USA.

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.

Average House Prices in the United States increased to 522200 USD in May from 511200 USD in April of 2025. This dataset includes a chart with historical data for the United States New Home Average Sales Price.

House Price Index YoY in the United States decreased to 3 percent in April from 3.90 percent in March of 2025. This dataset includes a chart with historical data for the United States FHFA House Price Index YoY.

Key information about House Prices Growth

• US house prices grew 5.2% YoY in Dec 2024, following an increase of 5.4% YoY in the previous quarter.
• YoY growth data is updated quarterly, available from Mar 1992 to Dec 2024, with an average growth rate of 5.4%.
• House price data reached an all-time high of 17.7% in Sep 2021 and a record low of -12.4% in Dec 2008.

Housing Index in the United States decreased to 434.90 points in April from 436.70 points in March of 2025. This dataset provides the latest reported value for - United States House Price Index MoM Change - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The median house price of residential real estate in California has increased notably since 2012. After a brief correction in property prices in 2022, the median price reached 756,200 U.S. dollars in December 2023.

The S&P Case Shiller San Diego Home Price Index measures changes in the prices of existing single-family homes in San Diego. 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 San Diego Home Price Index amounted to approximately 441.06 in August 2024. That was significantly higher than the national average.

Graph and download economic data for Real Residential Property Prices for United States (QUSR628BIS) from Q1 1970 to Q1 2025 about residential, HPI, housing, real, price index, indexes, price, and USA.

Housing Index in Spain increased to 2033 EUR/SQ. METRE in the first quarter of 2025 from 1972.10 EUR/SQ. METRE in the fourth quarter of 2024. This dataset provides the latest reported value for - Spain House Prices - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Median Home Sale Price: All Residential: Baltimore, MD data was reported at 320.000 USD th in Jul 2020. This records an increase from the previous number of 310.000 USD th for Jun 2020. Median Home Sale Price: All Residential: Baltimore, MD data is updated monthly, averaging 250.000 USD th from Feb 2012 (Median) to Jul 2020, with 102 observations. The data reached an all-time high of 320.000 USD th in Jul 2020 and a record low of 210.000 USD th in Jan 2015. Median Home Sale Price: All Residential: Baltimore, MD 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: Baton Rouge, LA data was reported at 222.000 USD th in Jul 2020. This records an increase from the previous number of 215.000 USD th for Jun 2020. Median Home Sale Price: All Residential: Baton Rouge, LA data is updated monthly, averaging 187.000 USD th from Feb 2012 (Median) to Jul 2020, with 102 observations. The data reached an all-time high of 222.000 USD th in Jul 2020 and a record low of 162.000 USD th in Jan 2013. Median Home Sale Price: All Residential: Baton Rouge, LA 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.

House prices in the second most populous state in the United States, Texas, have increased more than two-fold since 2011. In 2023, the median house price reached 335,100 U.S. dollars, a decrease of 1.4 percent from the previous year. Texas is one of the more affordable states for buying a home with house prices below the national average.

Housing Index in Germany increased to 218.58 points in May from 217.43 points in April of 2025. This dataset provides the latest reported value for - Germany House Price Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Case Shiller Home Price Index in the United States increased to 341.48 points in April from 338.39 points in March of 2025. This dataset provides the latest reported value for - United States S&P Case-Shiller Home Price Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In 2023, the median single-family home price in the state of Florida was 410,000 U.S. dollars, up from 145,000 U.S. dollars in 2012. Despite this consistent growth in home prices, the volume of single-family homes sold in the state stagnated between 2015 and 2018.