Home prices in the U.S. skyrocketed more than 50% from early 2020 to mid-2024, creating a housing affordability crisis for those without real estate. In the latter half of 2024, conditions shifted to favor potential homebuyers. Home prices are similar to last year, but many cities experience significant increases. The median list price of single-family homes dropped nearly 9% from June 2024 to January 2025, but rose more than 10% by June 2025. Average prices edged up about 0.2% nationwide, with localized markets showing varying trends.
Home prices surged by more than 50% from early 2020 to mid-2024, creating a housing affordability crisis impacting those without real estate holdings.
Despite fluctuations, home prices in the U.S. are similar to last year, but localized markets reveal cities where homes are significantly more expensive.
From June 2024 to January 2025, the median list price of single-family homes fell nearly 9%, then increased over 10% by June 2025, nearing all-time highs.
Nationally, average list prices are up about 0.2% year-over-year, but location influences price changes, with some areas seeing significant rises.
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