The median US home price was $219,000 at the start of the 2010s, $165,300 at the start of the 2000s, and just $124,800 at the start of the 1990s.
  • US home prices have soared 47% so far this decade.
  • The price surge has outpaced the gains seen in the 1990s and 2010s, and is nearly ahead of the 2000s.
  • The rising value of homes has coincided with a millennial-fueled demand surge and years of low mortgage rates.

US home prices have soared 47.1% so far this decade, according to a ResiClub analysis of the Case-Shiller National Home Price Index.

The massive price gains seen in the first four years of the 2020s have eclipsed all of the growth seen in the 1990s and 2010s, according to the analysis. Housing prices in those two decades grew 30.1% and 44.7%, respectively.

On top of that, housing price growth in the 2020s is on the verge of eclipsing all of the growth seen in the 2000s, which was 47.3% after peaking at just over 80% before the 2007 housing market crash.

  • Franklin@lemmy.world
    571·
    8 months ago

    Yeah it’s an inelastic demand.

    Our zoning codes, car centric infrastructure, and investment firms having control over supply have priced an entire generation out of a human right.