Home Prices Now
Median home prices crashed off of a peak in 2007 at about $250,000, plunging by about 20% by 2009. However, they’ve been roaring back ever since, blowing past that previous high in 2013 to a record $337,900 at the end of 2017.
Since then, though, prices appear to be slumping. That could be a sign that an overheated housing market is finally pulling back as homes become unaffordable to too many Americans. It could also reflect a recency bias for consumers who lived through the housing crisis and are showing an excess of caution with their real estate decisions.
But, of course, it could just be a sign that a recession is finally around the corner after years of growth.
