U.S. Housing Market in 2009

2009 was the trough of the GFC housing crisis on paper, though the foreclosure cycle would still take three years to clear. New-home sales fell to 375,000 — the lowest reading since the series began in 1963.

The Federal Reserve initiated quantitative easing, buying $1.25T in mortgage-backed securities through 2010 to push mortgage rates lower. The 30-year fixed averaged 5.04%, the lowest since 1971. The first-time homebuyer tax credit (up to $8,000) ran from January 2009 to April 2010 and added meaningful but temporary demand. Median existing prices fell to $172,500.

See also

• The 2008 subprime housing collapse
• The full 1963–2024 data table
• 30-year fixed mortgage rate history
• Median home price history