Sales price of existing single-family houses in the U.S. 2000-2018

The median sales price of an existing single-family home in the United States reached 261,600 U.S. dollars in 2018 – the highest price since 2006. The sales price has risen year-on-year since 2011, increasing by 7,800 U.S. dollars between 2017 and 2018.

Location, location, location

Regional differences in the median sales prices of existing single-family homes were evident across the United States in 2018. The cheapest region was the Midwest with a sales price of 200,400 U.S. dollars; the most expensive region was the West with a sales price of 384,700 U.S. dollars. The sales price in the West region has nearly doubled since 2011 and is around 120,000 U.S. dollars more than the national median.

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. However, homebuyers in the United States will have to pay top dollar should they want a new single-family home: the median sales price reached 326,400 U.S. dollars in 2018.