Short answer. The 2024 median existing-home sale price was $408,000 (NAR). The 2024 median new single-family home sale price was $458,200 (Census).
The 2024 annual figures were:
- Median existing-home sale price: $408,000 (NAR Existing Home Sales report)
- Median new single-family sale price: $458,200 (Census Survey of Construction)
Both are all-time nominal highs. The existing-home median rose 4.7% YoY; the new-home median rose 7.6% YoY.
What drove prices higher despite weak sales?
Existing-home transaction volume in 2024 was 4.06M — the lowest since 1995. Prices held and rose because of the rate-lock effect: with 76% of U.S. mortgaged owners holding loans below 5%, listing inventory stayed at multi-decade lows. The few homes that did clear were generally cleared at full asking price or above.
Inflation context
In real (CPI-adjusted) terms, the 2024 median existing-home price of $408,000 is roughly 13% above the previous real-terms peak set in 2005. By any historical comparison, U.S. housing prices in 2024 are at all-time highs.
Sources
U.S. Census Bureau Survey of Construction; National Association of Realtors Existing Home Sales report; Freddie Mac Primary Mortgage Market Survey; National Bureau of Economic Research Business Cycle Dating Committee.