The number of U.S. home sales in the United States declined in 2023, after soaring in 2021. A total of four million transactions of existing homes, including single-family, condo, and co-ops, were completed in 2023, down from 6.12 million in 2021. According to the forecast, the housing market is forecast to head for recovery in 2025, despite transaction volumes are expected to remain below the long-term average. Why have home sales declined? The housing boom during the coronavirus pandemic has demonstrated that being a homeowner is still an integral part of the American dream. Nevertheless, sentiment declined in the second half of 2022 and Americans across all generations agreed that the time was not right to buy a home. A combination of factors has led to house prices rocketing and making homeownership unaffordable for the average buyer. A survey among owners and renters found that the high home prices and unfavorable economic conditions were the two main barriers to making a home purchase. People who would like to purchase their own home need to save up a deposit, have a good credit score, and a steady and sufficient income to be approved for a mortgage. In 2022, mortgage rates experienced the most aggressive increase in history, making the total cost of homeownership substantially higher. Only 15 percent of U.S. renters could afford to become homeowners and in metros with highly competitive housing markets such as Los Angeles, CA, and Urban Honolulu, HI, this share was below five percent. Are U.S. home prices expected to fall? The median sales price of existing homes stood at 387,000 U.S. dollars in 2023 and was forecast to increase slightly until 2025. The development of the S&P/Case Shiller U.S. National Home Price Index shows that home prices experienced seven consecutive months of decline between June 2022 and January 2023, but this trend reversed in the following months. Despite mild fluctuations throughout the year, home prices in many metros are forecast to continue to grow, albeit at a much slower rate.

Existing Home Sales in the United States increased to 4260 Thousand in February from 4090 Thousand in January of 2025. This dataset provides the latest reported value for - United States Existing Home Sales - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The number of home sales in the United States peaked in 2021 at almost seven million after steadily rising since 2018. Nevertheless, the market contracted in the following year, with transaction volumes falling to 4.8 million. Home sales remained muted in 2024, with a mild increase expected in 2025 and 2026. A major factor driving this trend is the unprecedented increase in mortgage interest rates due to high inflation. How have U.S. home prices developed over time? The average sales price of new homes has also been rising since 2011. Buyer confidence seems to have recovered after the property crash, which has increased demand for homes and also the prices sellers are demanding for homes. At the same time, the affordability of U.S. homes has decreased. Both the number of existing and newly built homes sold has declined since the housing market boom during the coronavirus pandemic. Challenges in housing supply The number of housing units in the U.S. rose steadily between 1975 and 2005 but has remained fairly stable since then. Construction increased notably in the 1990s and early 2000s, with the number of construction starts steadily rising, before plummeting amid the infamous housing market crash. Housing starts slowly started to pick up in 2011, mirroring the economic recovery. In 2022, the supply of newly built homes plummeted again, as supply chain challenges following the COVID-19 pandemic and tariffs on essential construction materials such as steel and lumber led to prices soaring.

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.

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.

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.

The Office of Policy and Management maintains a listing of all real estate sales with a sales price of $2,000 or greater that occur between October 1 and September 30 of each year. For each sale record, the file includes: town, property address, date of sale, property type (residential, apartment, commercial, industrial or vacant land), sales price, and property assessment. Data are collected in accordance with Connecticut General Statutes, section 10-261a and 10-261b: https://www.cga.ct.gov/current/pub/chap_172.htm#sec_10-261a and https://www.cga.ct.gov/current/pub/chap_172.htm#sec_10-261b. Annual real estate sales are reported by grand list year (October 1 through September 30 each year). For instance, sales from 2018 GL are from 10/01/2018 through 9/30/2019. Some municipalities may not report data for certain years because when a municipality implements a revaluation, they are not required to submit sales data for the twelve months following implementation.

Graph and download economic data for Existing Home Sales (EXHOSLUSM495S) from Feb 2024 to Feb 2025 about headline figure, sales, housing, and USA.

The U.S. housing inventory has declined notably over the past years, despite a slight increase in 2024. In January 2025, the number of single-family homes for sale in the United States stood at about 906,000, higher than the same period in the past two years. The figure reflects the number of active unique single-family home listings available for purchase in that month. This rise in inventory is a result of a sluggish housing market with declining home transactions.

Graph and download economic data for Housing Inventory: Median Days on Market in the United States (MEDDAYONMARUS) from Jul 2016 to Feb 2025 about median and USA.

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.

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.

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Access to Residential, Condominium, Commercial, Apartment properties and vacant land sales history data.

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Number of residential property sales in England and Wales, by property type and administrative geographies. Annual data.

Data on the number of residential properties sold, sale price and number of buyers by sale type, property type and period of construction.

Graph and download economic data for Monthly Supply of New Houses in the United States (MSACSR) from Jan 1963 to Feb 2025 about supplies, new, housing, and USA.

Despite the housing market in the United States slowing in 2022, the number of cash transactions increased. One of the main reasons for this was the substantial increase in mortgage rates, making a cash purchase the better option for the home buyers who could afford it. About 56,000 cash home sales took place in 2023, which was one in ten housing transactions. It was also one of the highest figures recorded since 1989.