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.

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.

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.

Graph and download economic data for All-Transactions House Price Index for the United States (USSTHPI) from Q1 1975 to Q4 2024 about appraisers, HPI, housing, price index, indexes, price, and USA.

The average Canadian house price declined slightly in 2023, after four years of consecutive growth. The average house price stood at 678,282 Canadian dollars in 2023 and was forecast to reach 722,063 Canadian dollars by 2025. Home sales on the rise The number of housing units sold is also set to increase over the two-year period. From 443,511 units sold, the annual number of home sales in the country is expected to fall to 489,661 in 2024. British Columbia and Ontario have traditionally been housing markets with prices above the Canadian average, and both are set to witness an increase in sales in 2024. How did Canadians feel about the future development of house prices? When it comes to consumer confidence in the performance of the real estate market in the next six months, Canadian consumers in 2024 mostly expected that the market would go up. A slightly lower share of the respondents believed real estate prices would remain the same.

The foreclosure rate in the United States has experienced significant fluctuations over the past two decades, reaching its peak in 2010 at 2.23 percent following the financial crisis. Since then, the rate has steadily declined, with a notable drop to 0.11 percent in 2021 due to government interventions during the COVID-19 pandemic. In 2024, the rate stood slightly higher at 0.23 percent but remained well below historical averages, indicating a relatively stable housing market. Impact of economic conditions on foreclosures The foreclosure rate is closely tied to broader economic trends and housing market conditions. During the aftermath of the 2008 financial crisis, the share of non-performing mortgage loans climbed significantly, with loans 90 to 180 days past due reaching 4.6 percent. Since then, the share of seriously delinquent loans has dropped notably, demonstrating a substantial improvement in mortgage performance. Among other things, the improved mortgage performance has to do with changes in the mortgage approval process. Homebuyers are subject to much stricter lending standards, such as higher credit score requirements. These changes ensure that borrowers can meet their payment obligations and are at a lower risk of defaulting and losing their home. Challenges for potential homebuyers Despite the low foreclosure rates, potential homebuyers face significant challenges in the current market. Homebuyer sentiment worsened substantially in 2021 and remained low across all age groups through 2024, with the 45 to 64 age group expressing the most negative outlook. Factors contributing to this sentiment include high housing costs and various financial obligations. For instance, in 2023, 52 percent of non-homeowners reported that student loan expenses hindered their ability to save for a down payment.

The year-end value of the S&P Case Shiller National Home Price Index amounted to 310.76 in December 2023. The index value was equal to 100 as of January 2000, so if the index value is equal to 130 in a given year, for example, it means that the house prices increased by 30 percent since 2000. S&P/Case Shiller U.S. home indices – additional informationThe S&P Case Shiller National Home Price Index is calculated on a monthly basis and is based on the prices of single-family homes in nine U.S. Census divisions: New England, Middle Atlantic, East North Central, West North Central, South Atlantic, East South Central, West South Central, Mountain and Pacific. The index is the leading indicator of the American housing market and one of the indicators of the state of the broader economy. The index illustrates the trend of home prices and can be helpful during house purchase decisions. When house prices are rising, a house buyer might want to speed up the house purchase decision as the transaction costs can be much higher in the future. The S&P Case Shiller National Home Price Index has been on the rise since 2011.The S&P Case Shiller National Home Price Index is one of the indices included in the S&P/Case-Shiller Home Price Index Series. Other indices are the S&P/Case Shiller 20-City Composite Home Price Index, the S&P/Case Shiller 10-City Composite Home Price Index and twenty city composite indices.

The average Canadian house price declined slightly in 2023, after four years of consecutive growth. The average house price stood at 678,282 Canadian dollars in 2023 and was forecast to reach 746,379 Canadian dollars by 2026. Home sales on the rise The number of housing units sold is also set to increase over the two-year period. From 443,511 units sold, the annual number of home sales in the country is expected to rise to 453,704 in 2025. British Columbia and Ontario have traditionally been housing markets with prices above the Canadian average, and both are set to witness an increase in sales in 2025. How did Canadians feel about the future development of house prices? When it comes to consumer confidence in the performance of the real estate market in the next six months, Canadian consumers in 2024 mostly expected that the market would go up. A slightly lower share of the respondents believed real estate prices would remain the same.

This dataset results from an anthropological project that investigated the mediations that advice enables between the state, the market, charitable initiatives, families and ordinary citizens in the UK as well as selected European sites affected by austerity politics, namely Spain and Switzerland. The welfare state is not just a political-economic but a moral formation, which creates multiple boundaries of inclusion and exclusion through a variety of actors, officials and institutions. These boundaries at times challenge, and at other times reproduce, dominant logics of extraction and accumulation. Advisers are often the last call for help for their clients/dependents who find themselves increasingly at the mercy of local authorities, immigration regimes, landlords, banks and debt collection agencies. But competing visions of moral worth and social justice continue to permeate the everyday deliberations of those who administer, support and advocate advice. Struggles and dilemmas over how best to instantiate social justice, provide assistance and balance individuals’ moral judgments against the collective good frequently occur. In analyzing advice as part of a broader landscape of governing the welfare state, our research explored both the dovetailing of and divergence between political, economic and legal imperatives and domains.

To accomplish our research, four main themes (1) Empathy and expertise, (2) Brokerage or self-help, (3) Shifting advice frameworks, and (4) Comparative insights on UK-based problems, were addressed through eight research sub-projects. (2) Ryan Davey ‘Debt advice in Plymouth’; (3) Tobias Eule ‘Face-to-Face Interactions at the State/Market interface in Germany/Switzerland’; (4) Alice Forbess ‘Housing and welfare advice in Portsmouth; (5) Ana Gutierrez Garza ‘Advice as social struggle: housing and debt in Spain’; (6) Deborah James ‘Debt advice in London’; (7) Insa Koch ‘Social housing and austerity politics on council estates in England’; (8) Anna Tuckett ‘Providing immigration advice in austerity UK’; (9) Matt Wilde ‘Advice and the UK Housing Crisis’. These include statements of methodology; tables of contents of fieldnotes; anonymized ethnographic interviews and anonymized fieldnotes.

This two-year anthropological study, building on earlier research by the principle investigator and others, undertakes an ethnographic investigation of advice. Under conditions of continuing economic crisis, scholars and policy-makers are having to reshape their assumptions about the nature of society: particularly in respect of who receives assistance and who funds and arranges it. Where the 'usual' targets of welfare and benefits were the poor or destitute, they now include those who work but cannot make ends meet, and who experience increasing numbers of complex problems for which they need advice. And where the 'usual' provider of such things, at least in the post-war years, has been the state, this is increasingly not the case. As the economic crisis proceeds apace and the state's role is being whittled down, access to the counsel of experts is nonetheless increasingly essential. Without prejudging the outcomes, the project will investigate novel arrangements and their unintended consequences. It will explore innovations in advice giving provided by existing offices (under more traditional state-funded regimes), by new sources and novel agencies (under non-governmental and market-driven schemes), and by the social movements, self-help and informal network-based arrangements to which many are increasingly having to turn for counsel and support. The project proposes intensive research along two axes. Firstly, it explores in detail selected sites and cases in the UK (specifically England where a very particular set of legal/welfare arrangements is in operation), 'drilling down' to examine specific institutional settings, themes and topics at a range of different scales and levels. Topics and sites include a focus on the three specific areas of housing, debt and immigration advice, both within and beyond particular institutional settings, and law courts where litigants have started to engage in self-representation. Secondly, it uses two carefully-selected cross-national comparisons in order to illuminate, and gain a critical perspective on, aspects of UK welfare-related advice processes which are often taken as natural/inevitable by local policy-makers. Across these different settings, the project will: (1) document the ongoing effects on advice giving of the withdrawal of legal aid funds, including the rise of self-litigation; (2) explore the new roles assumed by bureaucrats, intermediaries and self-help groups, who are increasingly important in the advice encounter; (3) investigate whether funding cuts have caused the dwindling of the much-vaunted empathy that advice-givers are often required to deliver and whether, in the process, advisers are becoming less effective at shaping the...

For the third year in a row, the Indonesian market for bearing housings incorporating ball or roller bearings recorded decline in sales value, which decreased by -43.7% to $15M in 2024. Over the period under review, consumption showed a mild downturn. Bearing housing with ball bearing consumption peaked at $36M in 2018; however, from 2019 to 2024, consumption remained at a lower figure.

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.

The Hungarian market for bearing housings not incorporating ball or roller bearings, plain shaft bearings declined significantly to $86M in 2024, dropping by -20.4% against the previous year. Over the period under review, consumption recorded a perceptible downturn. Bearing housing without ball bearing consumption peaked at $133M in 2017; however, from 2018 to 2024, consumption stood at a somewhat lower figure.

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 Luxembourg market for bearing housings not incorporating ball or roller bearings, plain shaft bearings was finally on the rise to reach $948K in 2024, after two years of decline. Over the period under review, consumption, however, showed a abrupt downturn. As a result, consumption attained the peak level of $4.9M. From 2018 to 2024, the growth of the market failed to regain momentum.

In 2024, the amount of bearing housings not incorporating ball or roller bearings, plain shaft bearings exported in the CIS fell to X tons, dropping by X% against the year before. Overall, exports saw a abrupt downturn. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, the exports attained the peak of X tons. From 2019 to 2024, the growth of the exports remained at a somewhat lower figure.

Inhabitants of the Ibizan municipality of Santa Eulalia del Río needed almost 60 years of household income to pay off their mortgage in 2018, making this coastal town the least affordable municipality to purchase a property in Spain. In contrast, the most affordable area to purchase a home in Spain that year was located in Andalusia. Furthermore, the central region of Castile-La Mancha appeared several times on the list of most affordable municipalities to rent in Spain.

The most expensive coastal areas Out of the five main islands that comprise the Balearic province, three are listed as the most expensive coastal areas of Spain. Ibiza and Formentera’s coasts ranked as the least affordable coasts in terms of property prices, with their average price per square meter amounting to nearly 3.8 thousand euros. The Basque province of Gipuzkoa was the second most expensive coastal area of Spain, with an average price that reached approximately 2.35 thousand euros per square meter as of the first quarter of 2019.

Spain: the rebirth of a broken property market After a long period of time in which Spain’s real estate prices increased sharply, the market was hit by the global financial crisis of 2007, making the Spanish property bubble collapse and damaging home value. According to the European Mortgage Federation (EMF), real estate prices in Spain initiated a solid recovery in 2015, reaching 78.7 house price index points in 2018 from a lowest point of 70.8 index points recorded in 2014. The property market has made great progress, but it is still far off the rest of its European counterparts, and it is positioned, in fact, at the bottom of the European list of the EMF’s house price index, which is led by Sweden at 160.6 index points. In 2016, 200 thousand euros could still buy a 119 square-meter home on average in Spain, whereas it would only allow for a 50 square-meter apartment in France.

The average house price in Saskatchewan was about 320,912 Canadian dollars in 2024, and according to the forecast, is set to increase in the next two years. However, house price growth in the province is expected to be slower than the national average. In terms of home prices, Saskatchewan is one of the most affordable provinces for housing. Saskatchewan: key factsSaskatchewan is a province located between Alberta and Manitoba north of the Canada-United States border. In 2023, the population of Saskatchewan was over one million, which placed it as the sixth most populous Canada province. However, the population has been on the rise since 2006, so this may change in the future. Future of the housing marketThe number of housing starts in the province has been falling since 2012, which suggests that either supply is outstripping demand or that it’s simply not profitable enough for property developers. Some real estate experts in the region believe that the falling price of oil is causing the housing market slowdown because there are fewer jobs in the region as a result. However, they expect that the market will pick up again in the near future.

Qatar’s economy has largely recovered from a boycott imposed in June 2017 by other Arab states, and economic growth returned to positive territory in 2018. Construction activity remains resilient, as government spending has continued on projects, despite a sharp downturn in the residential real estate market that was exacerbated by the boycott. GlobalData expects to see strong growth in construction activity in 2018. Read More

The U.S. mortgage market has declined notably since 2020 and 2021, mostly due to the effect of higher borrowing costs on refinance mortgages. The value of refinancing mortgage originations, amounted to 86 billion U.S. dollars in the first quarter of 2024, down from a peak of 851 billion U.S. dollars in the fourth quarter of 2020. The value of mortgage loans for the purchase of a property recorded milder fluctuations, with a value of 291 billion U.S. dollars in the first quarter of 2024, and a market peak of 477 billion U.S. dollars in the first quarter of 2022. According to the forecast, mortgage lending is expected to slightly increase until the end of 2025. The cost of mortgage borrowing in the U.S. Mortgage interest rates in the U.S. rose dramatically in 2022 and continued to increase in 2023. In 2020, a homebuyer could lock in a 30-year fixed interest rate of under three percent, whereas in 2023, the average rate for the same mortgage type exceeded seven percent. 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. The effect of a slower housing market on property prices and rents According to the S&P/Case Shiller U.S. National Home Price Index, housing prices experienced a slight correction in early 2023, as property transactions declined. Nevertheless, the index continued to grow in the following months. On the other hand, residential rents have increased steadily since 2000.

After surging in 2021, sales activity in the Canadian housing market slowed down in the next two years. According to the forecast, the number of home sales in 2025 is expected to reach almost 525,500. The Canadian residential housing market is going through a period of change because the skyrocketing home prices are being tempered by various governmental interventions. One of the measures is such as a two-year ban on foreign purchases. Additionally, the government introduced a tax on vacant foreign-owned housing and a tax on assignment sales - resales of homes that have not been constructed or lived in before the time of the sale.