Four charts on the U.S. Housing Market

Are more houses being constructed? And what about the average and median prices of houses being sold?

Chart 1 – Average sales price of houses sold

Average prices were increasing for 10 years until 2018. In Q4 2018 the average price of a house sold was $378,900 (up from $260,000 in 2011). Does this mean more expensive houses are not selling or does this mean more houses priced lower than the average price are selling well dragging the average price lower?

US Average Sales Price of Houses until Q4 2018

 

Chart 2 – Median sales price of houses sold

Like average prices, median prices of houses sold fell in 2018 as well. In Q4 2018 the median price of a house sold was $317,400 (up from $221,000 in 2010).

US Median Sales Price of Houses until Q4 2018

 

Chart 3 – House starts fell by 11% in Q4 2018

US Housing Starts until December 2018

 

Chart 4 – Number of houses under construction have been rising since 2010

New houses under construction reached 1.14 million in December 2018 up from an average of 400,000 in 2010. The housing market is still buoyant.

US Houses under construction until December 2018

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