Census · NAR median sale price series

U.S. Median Home Prices, 1968–2024

The median existing home sold for $20,100 in 1968 and $408,000 in 2024 — a 20× increase in current dollars over 56 years. New construction commands a ~12% premium, reflecting size and feature creep.

Source U.S. Census · NAR Series Median sale price Inflation Not adjusted Range 1968 – 2024

About the Data

Three federal series, one continuous record.

Prices shown are median sale prices in current dollars — not inflation-adjusted. New-construction medians come from the Census Survey of Construction; existing-home medians come from the NAR Existing Home Sales report. Both series capture only closed transactions, not list prices or appraisals.

Notable Cycles

Four genuine peaks, four wholly different recoveries.

Existing-home prices peaked at $219,000 in 2005, fell to $166,200 by 2011 (-24%), then recovered to $357,100 by 2021 in the pandemic surge. Median prices have risen every year since 2012, even through the 2022–2024 sales freeze.

Definitions

Salesunits, K or M
Pricemedian, current $
Rate30-yr fixed, % APR
SAARCensus
EHSNAR
PMMSFreddie Mac
RecessionNBER monthly