Short answer. U.S. new single-family home prices have risen from $18,000 in 1963 to $458,200 in 2024 — a 25.5× nominal increase over 61 years. Inflation-adjusted (2024 dollars), the 1963 median was approximately $182,000, meaning real prices have roughly 2.5× since 1963.
| Decade | Median New Price (start) | Median New Price (end) | Change |
|---|---|---|---|
| 1960s (1963–69) | $18,000 | $27,900 | +55% |
| 1970s | $27,900 | $64,600 | +132% |
| 1980s | $64,600 | $122,900 | +90% |
| 1990s | $122,900 | $169,000 | +38% |
| 2000s | $169,000 | $221,800 | +31% |
| 2010s | $221,800 | $336,900 | +52% |
| 2020s (2020–24) | $336,900 | $458,200 | +36% |
The Housing Almanac's annual series begins in 1963, the first year for which the U.S. Census Bureau's Survey of Construction provides consistent new-home sale price data. That starting point lets us trace six decades of price history.
The nominal price trajectory
- 1963: median new home $18,000
- 1970: $23,400 (+30% from 1963)
- 1980: $64,600 (+258% from 1963)
- 1990: $122,900 (+583% from 1963)
- 2000: $169,000 (+839% from 1963)
- 2010: $221,800 (+1,132% from 1963)
- 2020: $336,900 (+1,772% from 1963)
- 2024: $458,200 (+2,446% from 1963)
Inflation adjustment
CPI inflation has been approximately 8.3× since 1963 (meaning $1.00 in 1963 is worth about $8.30 in 2024). At that inflation rate, the $18,000 median new home of 1963 would equal approximately $149,000 in 2024 dollars. Since the actual 2024 median is $458,200, real new-home prices have risen roughly 3.1× in inflation-adjusted terms — a genuine real appreciation reflecting land scarcity, regulatory costs, and rising material and labor costs.
Existing homes since 1968
The NAR existing-home series begins in 1968. The median existing-home price was $20,100 in 1968 and $408,000 in 2024 — a 20.3× nominal increase. Adjusted for inflation (CPI is approximately 7.7× since 1968), the 1968 median in 2024 dollars would be about $155,000 — meaning real existing-home prices have roughly 2.6×.
Compounding rates
The compounded annual growth rate (CAGR) for new-home prices from 1963 to 2024 is approximately 5.5% in nominal terms. Over the same period, CPI inflation compounded at approximately 3.5% annually. The real CAGR of housing has therefore been approximately 2% per year — modest but consistent wealth-building for long-term owners.
Sources
U.S. Census Bureau Survey of Construction (new-home median prices, 1963–2024); National Association of Realtors Existing Home Sales (existing-home median prices, 1968–2024); U.S. Bureau of Labor Statistics CPI.
Related
- How much have home prices risen since 1968?
- What was the highest U.S. home price ever recorded?
- Median home price history
- Full 1963–2024 data table
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