New Home SalesCENSUS
437K
U.S. Housing Market · 2014
U.S. Housing Market in 2014
taper tantrumuneven recoveryprices clear 2007 peak
Existing SalesNAR
4.94M
Median PriceNAR
$208,900
30Y MortgagePMMS
4.17%
2014 was the year the U.S. housing recovery stalled. Existing-home sales fell to 4.94M — down from 5.09M in 2013 — as the QE3 rate spike of mid-2013 took hold.
Median existing-home prices reached $208,900, finally clearing 2007's nominal peak after seven years. But the recovery's geographic distribution was uneven — coastal cities and the largest MSAs were back to peak prices, while many mid-sized Midwest and Sunbelt markets remained 20%+ below 2006 levels. Mortgage rates averaged 4.17%, up from 3.66% two years prior — the so-called taper tantrum.