House Prices

Analyse US House & Home Prices


Valparaiso, FL
Temple City, CA
Lincroft, NJ
Ogunquit, ME
East Canton, OH
Riverside, CT
Cornwall On Hudson, NY
Windsor Heights, IA
Valley City, OH
Whitman, MA


Developement of US house prices


What's Your Home Worth Today? Brows by city to find out average value of your house. We analyse millions of market data to calculate value range for different types of houses. (VR) The US house market has gone through different stages within the last 20 years. Prices went from high to low and back. As many other real estate markets it was heavy affected by world financial crisis which had it's origin in US bank sector. Especially US real estate banks were hardly affected by this situation. Recovering went fast so todays market is about 50% above 2009. But prices within cities also differ.



Alaska

Nenana, Denali

Valdez, Valdez Cordova

Gustavus, Hoonah Angoon

Glennallen, Valdez Cordova

Douglas, Juneau

Alabama

Harpersville, Shelby

Seale, Russell

Satsuma, Mobile

Weaver, Calhoun

Lafayette, Chambers

Arkansas

Wilson, Mississippi

Pottsville, Pope

Taylor, Columbia

Walnut Ridge, Lawrence

Tumbling Shoals, Cleburne

Arizona

Thatcher, Graham

Amado, Pima

Munds Park, Coconino

Youngtown, Maricopa

Tucson, Pima

California

South San Francisco, San Mateo

Temple City, Los Angeles

Antelope, Sacramento

La Crescenta, Los Angeles

Solana Beach, San Diego

Colorado

Yuma, Yuma

Meeker, Rio Blanco

Watkins, Arapahoe

Pierce, Weld

Morrison, Jefferson

Connecticut

Riverside, Fairfield

East Hartford, Hartford

Moodus, Middlesex

Southport, Fairfield

Uncasville, New London

District of Columbia

Washington, District of Columbia

Delaware

Florida

Valparaiso, Okaloosa

Neptune Beach, Duval

Anna Maria, Manatee

Long Key, Monroe

Belleair Beach, Pinellas

Georgia

Sparks, Cook

Dawson, Terrell

Ray City, Berrien

West Point, Troup

Zebulon, Pike

Hawaii

Kaaawa, Honolulu

Laie, Honolulu

Paia, Maui

Pepeekeo, Hawaii

Waimanalo, Honolulu

Iowa

Windsor Heights, Polk

Sigourney, Keokuk

Ventura, Cerro Gordo

Greene, Butler

Brighton, Washington

Idaho

Star, Ada

Coeur D Alene, Kootenai

Wendell, Gooding

Nampa, Canyon

Sugar City, Madison

Illinois

Gilberts, Kane

Casey, Cumberland

East Dubuque, Jo Daviess

Saint Elmo, Fayette

Bradley, Kankakee

Indiana

Greentown, Howard

Winona Lake, Kosciusko

Winchester, Randolph

Russiaville, Howard

Walkerton, St. Joseph

Kansas

Galva, McPherson

Saint George, Pottawatomie

Harper, Harper

Ellis, Ellis

Hillsboro, Marion

Kentucky

Whitesville, Daviess

Smithfield, Henry

Whitesburg, Letcher

Wickliffe, Ballard

Louisville, Jefferson

Louisiana

Reserve, St. John the Baptist

Saint Rose, St. Charles

Sorrento, Ascension

Mamou, Evangeline

White Castle, Iberville

Massachusetts

West Yarmouth, Barnstable

Winthrop, Suffolk

Whitman, Plymouth

Rockport, Essex

Belmont, Middlesex

Maryland

Hyattsville, Prince Georges

Columbia, Howard

Church Creek, Dorchester

Pomfret, Charles

Newark, Worcester

Maine

Ogunquit, York

Orono, Penobscot

Washburn, Aroostook

Palermo, Waldo

Searsport, Waldo

Michigan

Oak Park, Oakland

Riverview, Wayne

Stockbridge, Ingham

Reading, Hillsdale

Ecorse, Wayne

Minnesota

Waverly, Wright

Saint Peter, Nicollet

Waite Park, Stearns

Wabasso, Redwood

Young America, Carver

Missouri

Seneca, Newton

Riverside, Platte

Pevely, Jefferson

Wheatland, Hickory

Sparta, Christian

Mississippi

Richton, Perry

Bailey, Lauderdale

Richland, Rankin

Caledonia, Lowndes

Stonewall, Clarke

Montana

Saint Ignatius, Lake

Victor, Ravalli

Sula, Ravalli

Valier, Pondera

Somers, Flathead

North Carolina

Kure Beach, New Hanover

Wingate, Union

Stem, Granville

Pink Hill, Duplin

Whitakers, Nash

North Dakota

Wahpeton, Richland

Tioga, Williams

Walhalla, Pembina

Carrington, Foster

Napoleon, Logan

Nebraska

Long Pine, Brown

Cambridge, Furnas

Gothenburg, Dawson

Stanton, Stanton

David City, Butler

New Hampshire

Windham, Rockingham

Seabrook, Rockingham

Stratham, Rockingham

Salem, Rockingham

Pelham, Hillsborough

New Jersey

Ocean Grove, Monmouth

Lincroft, Monmouth

Madison, Morris

Totowa, Passaic

West Long Branch, Monmouth

New Mexico

Bosque Farms, Valencia

Jal, Lea

Loving, Eddy

Flora Vista, San Juan

Santa Teresa, Doņa Ana

Nevada

Carlin, Elko

Wadsworth, Washoe

Zephyr Cove, Douglas

Henderson, Clark

Minden, Douglas

New York

West Nyack, Rockland

Round Lake, Saratoga

Millwood, Westchester

Cornwall On Hudson, Orange

Massapequa Park, Nassau

Ohio

Valley City, Medina

East Canton, Stark

West Alexandria, Preble

Bluffton, Allen

West Unity, Williams

Oklahoma

Walters, Cotton

Tonkawa, Kay

Porter, Wagoner

Talala, Rogers

Okarche, Kingfisher

Oregon

Sublimity, Marion

Monroe, Benton

Damascus, Clackamas

Talent, Jackson

Vale, Malheur

Pennsylvania

Broomall, Delaware

Mount Joy, Lancaster

Scranton, Lackawanna

Dalton, Lackawanna

Parkesburg, Chester

Rhode Island

Rumford, Providence

Riverside, Providence

North Providence, Providence

Greenville, Providence

Central Falls, Providence

South Carolina

Folly Beach, Charleston

Sullivans Island, Charleston

Cowpens, Spartanburg

Williston, Barnwell

Saluda, Saluda

South Dakota

Parker, Turner

Webster, Day

Wentworth, Lake

Tea, Lincoln

Valley Springs, Minnehaha

Tennessee

White Bluff, Dickson

Southside, Montgomery

Munford, Tipton

Rocky Top, Anderson

Unionville, Bedford

Texas

Lewisville, Denton

Newark, Wise

Wilmer, Dallas

White Oak, Gregg

Webster, Harris

Utah

Lindon, Utah

West Valley City, Salt Lake

Salt Lake City, Salt Lake

Dammeron Valley, Washington

Torrey, Wayne

Virginia

Richmond, Richmond

Springfield, Fairfax

Zuni, Isle of Wight

Sutherland, Dinwiddie

Disputanta, Prince George

Vermont

Williston, Chittenden

North Hero, Grand Isle

South Hero, Grand Isle

Whiting, Addison

North Bennington, Bennington

Washington

Mountlake Terrace, Snohomish

Zillah, Yakima

Westport, Grays Harbor

Mukilteo, Snohomish

Kenmore, King

Wisconsin

Little Chute, Outagamie

Westby, Vernon

Elm Grove, Waukesha

Trevor, Kenosha

Barron, Barron

West Virginia

Philippi, Barbour

Nitro, Kanawha

New Cumberland, Hancock

West Union, Doddridge

Newell, Hancock

Wyoming

Upton, Weston

Story, Sheridan

Glenrock, Converse

Mountain View, Uinta

Wright, Campbell





Like almost every sector of the economy in early 2020, residential construction in the United States suffered from the coronavirus and subsequent lockdowns. In March and April, several scheduled new construction projects were postponed, and home sales dropped sharply as uncertainty surrounding the lockdowns had a noticeable impact on the real estate market.
The downturn, however, was brief. No other sector has recovered so rapidly and in such a textbook V-shape. In June and July 2020 sales were up an astounding 20.2% and 24.7% respectively in comparison to the same periods in 2019, and in June more homes were sold in the United States than at any time in the last 13 years. According to data from the National Association of Realtors (NAR), sales rose again in August and remained strong in the fourth quarter. This boom in demand for houses was a welcomed and rare highlight in a domestic economy with shrinking fiscal performance.
Home sales continue to rise across the county as inner city residents leave the confines of city centers behind. This has been reflected in growing demand for real estate in traditional suburbs or even further out in in so called "Zoom" cities. These are attractive communities with good schools, nice neighborhoods, and solid infrastructure located beyond the traditional commuting distance. People who can work from home and Zoom teleconference are opting for them because they can get more space for the same money. Additionally, demand for larger homes could increase significantly due to the shift to home offices.

Low interest rates are also driving sales

In addition to the COVID-19 pandemic, low interest rates on mortgages - three percent for standard 30 years loans - have also given an unexpected boost to home buying in the United States and prices are reaching record highs in nearly all metropolitan areas. In two-thirds of the 181 regions observed by the NAR, prices rose by double-digit percentages in 2020.
In the Washington D.C. metropolitan area for example, the residential housing industry posted $5.3 billion in sales in July 2020, up 26% from a year earlier and the median price of single-family homes hit a ten-year high. In one emerging Zoom city, Barnstable on the Cape Cod peninsula, just under two hours drive from Boston, house prices rose by almost 20% in 2020. In the coastal town of Bridgeport, northeast of New York, real estate prices jumped 27% and, at $591,000, were even more expensive on average than houses in the greater Boston area. Both cities are also well established vacation and recreation destinations offering a wide variety of leisure activities.

Prices increase highest on the West Coast

Current price jumps are the result of rising demand outstripping current supply in coveted communities. At the end of the third quarter 2020, the NAR calculated that there were nearly 1.5 million homes for sale, down nearly 20% from the same period the previous year despite the building boom. West Coast homes were the most expensive, averaging $1.4 million in San Jose, $1.12 million in San Francisco, and $910,000 in Anaheim.
With prices this steep people are moving even further from metropolitan centers on the West Coast. Currently, the fastest growing state in the United States is Idaho. Even before the COVID-19 pandemic, Idaho had become the top relocation destination for many Californians for whom life in the coastal cities has become too expensive and too exhausting. In 2020 demand climbed even higher and prices in Boise, the state capital, rose by 20%.
Even in the neighboring state of Montana to the north, the "Californication" trend is being felt. Larger than Germany but with only one million residents, Montana has plenty of space, but growth has only occurred in highly sought after cities like Bozeman where prices jumped 21% in 2020. On average, a single-family home here now cost $584,000, well above the national average. Bozeman's scenic location also attracts tech-millionaires from Silicon Valley who purchase million-dollar estates here.

Housing boom is expected to continue

An abrupt end to the residential construction trend is unlikely for the time being. There are plenty of buyers ready to enter the market and further gains are likely as the labor market continues to rebound. This is reflected by the market performance of US homebuilders such as D.R. Horton and MDC Holdings and of home improvement chains such as Lowe's and Home Depot. The share prices of all these companies have risen rapidly in recent months and are currently near their record highs.
The S&P Homebuilders Select index is also up around 20% since the beginning of 2020, so gains in the housing market look set to continue for the time being.

Inequality in the housing market is growing

On average, a single-family home in the United States currently costs $313,500, up 12% from 2019. Median family incomes, however, have grown just 2.9% over the same period. For homeowners, this is great news, as their wealth grows while they sleep. Those looking for a home, on the other hand, are having a harder time finding affordable housing and inequality is growing.
In any case, real estate in the upper price segment is particularly coveted. The number of houses that changed hands for a million dollars or more doubled within the last year.



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