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U.S. house prices: average sales price of new homes sold 1965-2019

In 2019, new homes in the United States were, on average, sold for 383,000 U.S. dollars, which is slightly down from 2018 levels. Home prices were steadily rising, after a drop between 2005 and 2011, which corresponds with the 2007-2009 recession. Prices have more or less plateaued since 2017, so the bubble which began to form in 2011 may be about to burst. Almost one third of homes in the U.S. are worth between 50,000 and 174,999 U.S. dollars, which is considerably less than the average sales price of new homes.

When will the next recession hit?

Many industry experts have predicted the next recession is on its way, which would explain the topping out of home prices in recent years. The American public also believe that it will commence in 2020 or by 2025. House prices are rising faster than incomes are, which has led to many Americans being unable to afford homeownership.

Average sales price of new homes sold in the U.S. from 1965 to 2019

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Source

Release date

June 2020

Region

United States

Survey time period

1965 to 2019

Supplementary notes

The sales price includes the land.

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* Prices do not include sales tax.

Statistics on "Housing market in the United States"

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