New Home SalesCENSUS
519K
U.S. Housing Market · 1974 · NBER recession
U.S. Housing Market in 1974
recession
Existing SalesNAR
2.27M
Median PriceNAR
$32,000
30Y MortgagePMMS
9.19%
In 1974, the U.S. housing market recorded existing-home sales averaged 2.27 million, new-construction sales of 519K, and a 30-year fixed mortgage rate of 9.19%.
Existing-home sales fell 2.6% from 1973. the median existing-home price rose 10.7% to $32,000. the 30-year fixed mortgage rose 1.15 percentage points to 9.19%. The NBER classified at least part of the year as a U.S. recession.
By the numbers — 1974: new-home sales 519K, existing-home sales 2.27M, median existing price $32,000, 30-year mortgage rate 9.19%.