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Existing homes - median price in the U.S. 2017-2021

In the first quarter 2020, the median price of existing homes in the U.S. was 272,400 U.S. dollars, which is set to increase to 297,900 U.S. dollars by the second quarter 2021. 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 1st quarter of 2021

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Source

Release date

June 2020

Region

United States

Survey time period

Q3 2017 to Q1 2020

Supplementary notes

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

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Statistics on "Housing market in the United States"

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