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Median New Home Price
About This Indicator
What Is the Median New Home Price?
The median price of new houses sold in the United States each quarter, from the Census Bureau. Most homes sold are existing ones, which are not in it, so this prices the newest slice of the market.
Why Does It Matter?
A home is most families' largest purchase. The same rise is a gain for owners and a hurdle for would-be buyers, which is why a housing boom can feel like prosperity and a crisis at once.
Can Politics Influence It?
Mortgage rates, which follow the Federal Reserve and bond market, move demand fastest; zoning, which decides how much can be built, shapes prices most over decades.
Key Idea
This is the median of whichever new homes sold, not the same house over time: the typical new single-family house completed in 2015 had about 60% more floor space than one completed in 1973. It is not adjusted for inflation, so much of its climb is general inflation.
Not Scored
Source: FRED (Census). MSPUS.
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