With interest rate rises on hold and signs of a slowing global economy, there have been a lot of noises that house prices globally are falling. We look at how U.S. house prices are looking compared to a year ago.
Average and median house prices for all houses sold in the U.S.
Compared to a year ago, average house prices sold in the U.S. fell 5.2% in the fourth quarter. Based on median house prices, the fall was even greater at 6.1%.
Average and median house prices for new houses sold in the U.S.
Both average and median prices for new houses sold in the U.S. are up compared to a year ago but it is just about keeping pace with the rate of inflation.