Part 6/9:
Home Prices: Current Status and Forecast
Currently, the median price of single-family homes in the U.S. is approximately $425,000. Prices have seen minimal changes year-over-year, reflecting stability under current market conditions. However, price appreciation of around 0% to 5% is expected for 2025.
The dynamics affecting prices include regional inventory levels, buyer demand, and external economic factors. In areas of high inventory such as the Sun Belt states, price growth has been muted compared to regions in the Midwest where inventory remains constrained. The overall expectation for home prices, therefore, is tempered by the anticipated increase in available housing options coupled with ongoing challenges regarding affordability.