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 Q2 2025 about sales, median, housing, and USA.

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.

The average price per square foot of floor space in new single-family housing in the United States decreased after the great financial crisis, followed by several years of stagnation. Since 2012, the price has continuously risen, hitting ****** U.S. dollars per square foot in 2024. In 2024, the average sales price of a new home exceeded ******* U.S. dollars. Development of house sales in the U.S. One of the reasons for rising property prices is the gradual growth of house sales between 2011 and 2020. This period was marked by the gradual recovery following the subprime mortgage crisis and a growing housing sentiment. Another significant factor for the housing demand was the growing number of new household formations each year. Despite this trend, housing transactions plummeted in 2021, amid soaring prices and borrowing costs. In 2021, the average construction cost for single-family housing rose by nearly ** percent year-on-year, and in 2022, the increase was even higher, at close to ** percent. Financing a house purchase Mortgage interest rates in the U.S. rose dramatically in 2022 and remained elevated until 2024. In 2020, a homebuyer could lock in a 30-year fixed interest rate of under ***** percent, whereas in 2024, the average rate for the same mortgage type was more than twice higher. 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.

Graph and download economic data for Real Residential Property Prices for United States (QUSR628BIS) from Q1 1970 to Q2 2025 about residential, HPI, housing, real, price index, indexes, price, and USA.

The house price to income ratio in Sweden amounted to ** points in the first quarter of 2025. This is lower than the observation from the first quarter one year earlier, when the ratio had been ***** points.

Graph and download economic data for All-Transactions House Price Index for California (CASTHPI) from Q1 1975 to Q3 2025 about appraisers, CA, HPI, housing, price index, indexes, price, and USA.

Graph and download economic data for All-Transactions House Price Index for Seattle-Bellevue-Kent, WA (MSAD) (ATNHPIUS42644Q) from Q4 1975 to Q3 2025 about Seattle, WA, appraisers, HPI, housing, price index, indexes, price, and USA.

Price to Rent Ratio in the United States increased to 134.04 in the fourth quarter of 2024 from 133.46 in the third quarter of 2024. This dataset includes a chart with historical data for the United States Price to Rent Ratio.

Switzerland Real Estate Price Index: Lake Geneva: Single Family Homes data was reported at 546.825 1970=100 in 2016. This records a decrease from the previous number of 558.358 1970=100 for 2015. Switzerland Real Estate Price Index: Lake Geneva: Single Family Homes data is updated yearly, averaging 285.804 1970=100 from Dec 1970 (Median) to 2016, with 47 observations. The data reached an all-time high of 605.229 1970=100 in 2013 and a record low of 100.000 1970=100 in 1970. Switzerland Real Estate Price Index: Lake Geneva: Single Family Homes data remains active status in CEIC and is reported by Swiss National Bank. The data is categorized under Global Database’s Switzerland – Table CH.EB002: Real Estate Price Index: By Region: Residential: Annual. Rebased from 1970=100 to 2000=100 Replacement series ID: 388330547

Graph and download economic data for All-Transactions House Price Index for the United States (USSTHPI) from Q1 1975 to Q3 2025 about appraisers, HPI, housing, price index, indexes, price, and USA.

VITAL SIGNS INDICATOR Rent Payments (EC8)

FULL MEASURE NAME Median rent payment

LAST UPDATED September 2016

DESCRIPTION Rent payments refer to the cost of leasing an apartment or home and serves as a measure of housing costs for individuals who do not own a home. The data reflect the median monthly rent paid by Bay Area households across apartments and homes of various sizes and various levels of quality. This differs from advertised rents for available apartments, which usually are higher. Note that rent can be presented using nominal or real (inflation-adjusted) dollar values; data are presented inflation-adjusted to reflect changes in household purchasing power over time.

DATA SOURCE U.S. Census Bureau: Decennial Census 1970-2000 https://nhgis.org Note: Count 1 and Count 2; Form STF1; Form SF3a

U.S. Census Bureau: American Community Survey 2005-2015 http://api.census.gov Note: Form B25058; 1-YR

Bureau of Labor Statistics: Consumer Price Index 1970-2015 http://data.bls.gov Note: All Urban Consumers Data Table (by metro)

CONTACT INFORMATION vitalsigns.info@mtc.ca.gov

METHODOLOGY NOTES (across all datasets for this indicator) Rent data reflects median rent payments rather than list rents (refer to measure definition above). Larger geographies (metro and county) rely upon ACS 1-year data, while smaller geographies rely upon ACS 5-year rolling average data. 1970 Census data for median rent payments has been imputed by ABAG staff as the source data only provided the mean, rather than the median, monthly rent. Metro area boundaries reflects today’s metro area definitions by county for consistency, rather than historical metro area boundaries.

Inflation-adjusted data are presented to illustrate how rent payments have grown relative to overall price increases; that said, the use of the Consumer Price Index does create some challenges given the fact that housing represents a major chunk of consumer goods bundle used to calculate CPI. This reflects a methodological tradeoff between precision and accuracy and is a common concern when working with any commodity that is a major component of CPI itself.

In 2025, the Consumer Price Index (CPI) for medical professional services in the United States was at 432.46, compared to the period from 1982 to 1984 (=100). The CPI for hospital services was at 1,102.12.

Prior to 1974 the data was based on surveys of existing house sales in Dublin carried out by the Valuation Office on behalf of the D. O. E. Since 1974 the data has been based on information supplied by all lending agencies on the average price of mortgage financed existing house transactions. Average house prices are derived from data supplied by the mortgage lending agencies on loans approved by them rather than loans paid. In comparing house prices figures from one period to another, account should be taken of the fact that changes in the mix of houses (incl apartments) will affect the average figures. Data for 1969/1970 is not available for Cork, Limerick, Galway, Waterford and Other areas The most current data is published on these sheets. Previously published data may be subject to revision. Any change from the originally published data will be highlighted by a comment on the cell in question. These comments will be maintained for at least a year after the date of the value change. National and Other Areas figure changed for 2015 on 27/6/15 as revised data received from Local Authorities Prices includes houses and apartments measured in € .hidden { display: none }

Graph and download economic data for All-Transactions House Price Index for San Diego-Chula Vista-Carlsbad, CA (MSA) (ATNHPIUS41740Q) from Q4 1975 to Q2 2025 about San Diego, appraisers, CA, HPI, housing, price index, indexes, price, and USA.

Germany DE: House Price Index: Real: sa data was reported at 114.480 2015=100 in 2024. This records a decrease from the previous number of 119.526 2015=100 for 2023. Germany DE: House Price Index: Real: sa data is updated yearly, averaging 106.401 2015=100 from Dec 1970 (Median) to 2024, with 55 observations. The data reached an all-time high of 141.582 2015=100 in 2021 and a record low of 89.397 2015=100 in 2008. Germany DE: House Price Index: Real: sa data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Germany – Table DE.OECD.AHPI: House Price Index: Seasonally Adjusted: OECD Member: Annual. Nominal house prices deflated using the private consumption deflator from the national account statistics. More information on the nominal house prices are available on the nominal house price indicators selection.

Switzerland Price to Income Ratio: sa data was reported at 125.810 2015=100 in 2024. This records an increase from the previous number of 124.006 2015=100 for 2023. Switzerland Price to Income Ratio: sa data is updated yearly, averaging 110.203 2015=100 from Dec 1970 (Median) to 2024, with 55 observations. The data reached an all-time high of 142.115 2015=100 in 1989 and a record low of 72.862 2015=100 in 2001. Switzerland Price to Income Ratio: sa data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Switzerland – Table CH.OECD.AHPI: House Price Index: Seasonally Adjusted: OECD Member: Annual. Nominal house prices divided by nominal disposable income per head. Net household disposable income is used. The population data come from the OECD national accounts database.

Graph and download economic data for Residential Property Prices for Netherlands (QNLN628BIS) from Q1 1970 to Q2 2025 about Netherlands, residential, HPI, housing, price index, indexes, and price.

Finland Real House Price Index: Old Dwellings: Blocks of Flats data was reported at 192.900 1970=100 in Sep 2018. This records a decrease from the previous number of 194.300 1970=100 for Jun 2018. Finland Real House Price Index: Old Dwellings: Blocks of Flats data is updated quarterly, averaging 117.300 1970=100 from Mar 1970 (Median) to Sep 2018, with 171 observations. The data reached an all-time high of 194.300 1970=100 in Jun 2018 and a record low of 81.600 1970=100 in Jun 1979. Finland Real House Price Index: Old Dwellings: Blocks of Flats data remains active status in CEIC and is reported by Statistics Finland. The data is categorized under Global Database’s Finland – Table FI.EB006: House Price Index: 1970=100.

Prior to 1974 the data was based on surveys of existing house sales in Dublin carried out by the Valuation Office on behalf of the D. O. E. Since 1974 the data has been based on information supplied by all lending agencies on the average price of mortgage financed existing house transactions. Average house prices are derived from data supplied by the mortgage lending agencies on loans approved by them rather than loans paid. In comparing house prices figures from one period to another, account should be taken of the fact that changes in the mix of houses (incl apartments) will affect the average figures. Data for 1969/1970 is not available for Cork, Limerick, Galway, Waterford and Other areas
The most current data is published on these sheets. Previously published data may be subject to revision. Any change from the originally published data will be highlighted by a comment on the cell in question. These comments will be maintained for at least a year after the date of the value change.

National and Other Areas figure changed for 2015 on 27/6/15 as revised data received from Local Authorities Prices includes houses and apartments measured in €