Sales price of existing single-family houses in the U.S. 2000-2021

The median sales price of an existing single-family home in the United States reached 363,800 U.S. dollars in August 2021 – the highest price on record. The sales price has risen year-on-year since 2011, increasing by over 100,000 U.S. dollars between 2018 and 2021.

Location, location, location

Regional differences in the median sales prices of existing single-family homes were evident across the United States. The cheapest region in 2020 was the Midwest; the most expensive region was the West. An existing home in the West cost over 100,000 U.S. dollar more than in the in the Midwest.

Prices surge due to housing shortage

A lack of properties on the market is one reason why the prices of existing single-family homes are rising across all regions of the United States. The shortage in housing comes despite increases in both the number of new single-family units being authorized by building permits and new single-family housing unit starts. Homebuyers in the United States will have to pay top dollar should they want a new single-family home.