Overall, the West region has the most expensive housing and the Midwest the most affordable, but these broad regions contain thousands of submarkets of varying home values.
U.S. Median Existing-Home Sales Price Longer-Term Market Dynamics, by Region, since 1999*
2022-2023-2024
$650,000
West
$550,000
Northeast
South
$450,000
Midwest
2005-06-2007
$350,000
Market recession & foreclosure crisis
$250,000
$150,000
Pandemic hits ▲
Most of the regular ups and downs in price-trend lines reflect the effects of market seasonality on sales prices. Long-term trends are more meaningful than short-term changes.
Updated through November 2024
$50,000
*Data copyright, National Association of Realtors®. All rights reserved. Reprinted with permission. Existing Home Sales, not seasonally adjusted: single family dwellings, townhomes, condos, co-ops. Last month labeled “preliminary . ” Data from sources deemed reliable but may contain errors and subject to revision.
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