New Home SalesCENSUS
545K
U.S. Housing Market · 1980 · NBER recession
U.S. Housing Market in 1980
recession
Existing SalesNAR
2.97M
Median PriceNAR
$62,200
30Y MortgagePMMS
13.74%
In 1980, the U.S. housing market recorded existing-home sales averaged 2.97 million, new-construction sales of 545K, and a 30-year fixed mortgage rate of 13.74%.
Existing-home sales fell 22.5% from 1979. the median existing-home price rose 11.7% to $62,200. the 30-year fixed mortgage rose 2.54 percentage points to 13.74%. The NBER classified at least part of the year as a U.S. recession.
By the numbers — 1980: new-home sales 545K, existing-home sales 2.97M, median existing price $62,200, 30-year mortgage rate 13.74%.