Existing homes - median price in the U.S. 2017-2020

In the second quarter 2019, the median price of existing homes in the U.S. was 276,800 U.S. dollars, which is set to increase to 288,500 U.S. dollars by the third quarter 2020. Since 2017, there has been a price jump between the first two quarters of each year, followed by a gradual decrease until the next year. This trend is forecast to continue until the end of 2020. The median value of existing homes has increased on an annual basis since 2011, in spite of the aforementioned variance throughout the given year.

Growth in new home prices also continues

New homes are valued more highly than existing homes, which can be explained by their superior energy efficiency, modern fittings and reduced need for home improvement projects. The annual growth in the median value of new homes has slowed considerably since 2017. However, the prices new homes fetch upon sale have steadily risen since the 1960s, with a slight dip between 2005 and 2010 due to the 2007-2009 recession.

Median price of existing homes in the United States from 3rd quarter of 2017 to 4th quarter of 2020

Median price of existing homes in thousand U.S. dollars
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Source

Release date

October 2019

Region

United States

Survey time period

Q3 2017 to Q2 2019

Supplementary notes

The source adds the following information: "Quarterly figures are seasonally adjusted annual rates."
*Forecast

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