What an Average Home Cost in the Year You Were Born
The cost of buying a new home fluctuates from year to year. To get a feel for the background environment of long-term housing trends in the United States, GOBankingRates identified the cost of a new home for each year from 1963 to 2023. These national average home sale prices were found in years sold dollars and current 2024 dollars.
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Read on to find how much the average home cost in the year you were born.
1963
Average home sale price (in year sold): $19,300
Average home sale price (in 2024): $197,640
1963 has been coined “the year that everything happened.” President John F. Kennedy was shot and killed in Dallas, and U.S. involvement in Vietnam was on the rise. On the civil rights front, the Rev. Martin Luther King, Jr. gave his “I Have A Dream” speech on the steps of the Lincoln Memorial, and activist Medgar Evers was assassinated. Against this backdrop, the modest median home price of $19,300 began a multi-decade trend toward higher prices.
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1964
Average home sale price (in year sold): $20,500
Average home sale price (in 2024): $207,211
1964 saw a continuation of more of the same from 1963. Race riots in major cities played a role in the drafting of the Civil Rights Act of 1964, a sweeping piece of legislation designed to eliminate Jim Crow segregation and counter racial discrimination. President Lyndon B. Johnson escalated the U.S. presence in the Vietnam War. On the lighter side of news, Beatlemania swept across the United States after the Beatles touched down in New York City and America took its first steps toward putting a man on the moon.
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1965
Average home sale price (in year sold): $21,500
Average home sale price (in 2024): $214,541
The Voting Rights Act of 1965 continued the theme of civil rights legislation at the forefront of American society, thanks in part to the march to Selma in Alabama. Race riots continued in places like Watts, California, and Malcolm X was assassinated. 1965 was also the year that the Gateway Arch was completed in St. Louis, and Muhammad Ali defeated Sonny Liston. By mid-1965, the median U.S. home price had ticked up to $21,500.
1966
Average home sale price (in year sold): $23,300
Average home sale price (in 2024): $226,708
1966 was another tumultuous year in America, as the war in Vietnam continued to escalate and riots and protests swept the country. The space race was in high gear, with the USSR landing a vehicle on the moon and the U.S. successfully completing its Gemini program — the precursor to the Apollo moon landing missions. Home prices continued to climb higher, reaching an average of $23,300.
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1967
Average home sale price (in year sold): $24,600
Average home sale price (in 2024): $232,829
The U.S. space program had a major setback in 1967 as a flash fire during an Apollo I test exercise killed Apollo astronauts Gus Grissom, Ed White and Roger Chaffee. Parts of Detroit and other cities were devastated by race riots, and in the Middle East, Israel fought Egypt, Jordan and Syria in the Six Day War. Home prices reached an average of $24,600.
1968
Average home sale price (in year sold): $26,600
Average home sale price (in 2024): $242,217
As home prices kept rising to a median of $26,600, America endured one of its most trying years in 1968. In Vietnam, it was the year of the Tet Offensive and the My Lai massacre. On the home front, the Rev. Martin Luther King Jr. was assassinated in April and Robert F. Kennedy in June. The year did end on an inspirational note, however, as the Apollo 8 astronauts beamed back the first-ever picture of the Earth from deep space taken by humans.
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1969
Average home sale price (in year sold): $27,900
Average home sale price (in 2024): $241,387
Home prices saw a steady rise to a median $27,900 in 1969, and the country had one of its most eventful summers ever. In music news, The Who released the groundbreaking “Tommy,” the Beatles’ “Get Back” hit No. 1, and nearly 400,000 people headed to Bethel, N.Y., for Woodstock. 1969 also marked the triumph of Apollo 11’s landing on the moon. Suburban home developments continued to grow, and the typical home priced decreased moderately.
1970
Average home sale price (in year sold): $26,600
Average home sale price (in 2024): $217,488
The median home price fell in 1970. This price decline was one of the results of a recession that hit the country, which lasted from December 1969 until November 1970. This also was the year the Ohio National Guard opened fire on students at Kent State University, killing four and wounding nine. Despite the economic and social turmoil, 1970 also became famous as the year that the king of rock ‘n’ roll, Elvis Presley, visited President Richard Nixon in the White House.
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1971
Average home sale price (in year sold): $28,300
Average home sale price (in 2024): $220,975
With the U.S. out of recession by 1971, home prices nearly returned to their pre-recession average. War protests lumbered on, and President Nixon took the U.S. off the gold standard. 1971 also witnessed the Attica prison riots, the conviction of Charles Manson, and the D.B. Cooper hijacking and disappearance.
1972
Average home sale price (in year sold): $30,500
Average home sale price (in 2024): $230,100
One of the most notable developments of 1972 was President Nixon’s surprise visit to the People’s Republic of China, a communist ally of the USSR. The president was trying to gain additional allies in the increasingly unpopular Vietnam War, which was racing toward an end due to stories and images like “Napalm Girl,” Pulitzer Prize-winning photo shot by AP photographer Nick Ut that depicted a 9-year-old girl who had been burned by the chemical. 1972 was also the year of the Munich Olympics hostage crisis and the Watergate scandal, the break-in at the Democratic National Committee headquarters that ultimately led to the downfall of President Nixon.
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1973
Average home sale price (in year sold): $35,500
Average home sale price (in 2024): $256,069
In 1973, the U.S. withdrawal from Vietnam ended the violent anti-war protests that had become a symbol of the ’60s. The Organization of Petroleum Exporting Countries, better known as OPEC, began an embargo that triggered an oil crisis resulting in long gas lines across the country — if gas was available at all.
1974
Average home sale price (in year sold): $38,900
Average home sale price (in 2024): $254,178
Recession struck again throughout 1974, with an extended decline that actually began the prior year and lasted all the way until March 1975. Despite the economic slowdown, home prices proved surprisingly resilient, jumping to an average of $38,900. The most notable moment of this year came in August when Richard Nixon resigned the presidency and Gerald Ford was sworn in.
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1975
Average home sale price (in year sold): $42,600
Average home sale price (in 2024): $252,473
1975 saw the last U.S. troops leave Vietnam. This year is also notable for the birth of Microsoft and the Apple 1 prototype computer. In space, the U.S. and the Soviet Union turned to the spirit of cooperative exploration, launching the Apollo and Soyuz spacecraft for a link-up in space. In the entertainment world, sketch comedy series “Saturday Night Live“ made its debut.
1976
Average home sale price (in year sold): $48,000
Average home sale price (in 2024): $268,192
1976 was a year of celebration in America, as the country marked the bicentennial. Barbara Walters became the first woman to anchor an evening news broadcast, and “Charlie’s Angels” lit up TV screens across the country for the first time. America’s exploration of space continued, with the successful landing on Mars of NASA’s Viking I rover. In politics, Jimmy Carter won the presidential election over incumbent Gerald Ford.
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1977
Average home sale price (in year sold): $54,200
Average home sale price (in 2024): $284,511
1977 held lots of highs and lows for America. New York City suffered a summer blackout and the Son of Sam killings, and Elvis Presley died at age 42. The year also saw the release of the Apple II computer, the Atari 2600 video game console and one of the biggest motion pictures of all time, “Star Wars.” John Travolta and “Saturday Night Fever” helped usher in the era of disco, and home prices continued to spike.
1978
Average home sale price (in year sold): $62,500
Average home sale price (in 2024): $307,898
Home prices took a dramatic jump upward in 1978, rising from the previous year median of $54,200 to $62,500. President Carter orchestrated the Camp David Accords, a step toward Middle East peace signed by Egyptian President Anwar Sadat and Israeli Prime Minister Menachem Begin. Karol Jozef Wojtyla was chosen as the next and as John Paul II, he became the first non-Italian pope in more than 400 years. 1978 also marked the largest mass suicide in modern history, at the People’s Temple compound in Jonestown, Guyana. Things remained grim after the assassination of America’s first openly gay public official, Harvey Milk, in San Francisco.
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1979
Average home sale price (in year sold): $71,800
Average home sale price (in 2024): $321,281
1979 saw another big jump in U.S. home prices, up to a median of $71,800. Electronics transformed the world with the introduction of the Walkman, the first portable music player. 1979 also saw the election of Britain’s first female prime minister, Margaret Thatcher, and the start of the epic NBA battles of Larry Bird and Magic Johnson. The year also carried tragedy, in the form of the Three Mile Island nuclear disaster, the beginning of the Iranian hostage crisis and the deadliest day in U.S. aviation history — the crash of American Airlines Flight 191, which killed 271 passengers and crew, plus two civilians on the ground in Illinois.
1980
Average home sale price (in year sold): $76,400
Average home sale price (in 2024): $297,905
1980 began with the first recession in five years, lasting from January until July. The economic dip didn’t seem to hurt home prices, which rose again from the previous year. Over the summer, the U.S. boycotted the Moscow Olympics as a result of the Soviet invasion of Afghanistan. And later that year, Mark David Chapman gunned down international pop music icon, John Lennon, in New York.
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1981
Average home sale price (in year sold): $83,000
Average home sale price (in 2024): $292,922
As Ronald Reagan moved into the Oval Office on Jan. 20, the hostage crisis in Iran came to an end. Just two months later, on March 30, John Hinckley Jr. shot the president as he emerged from a Washington, D.C., hotel in an effort to impress actress Jodie Foster. Prince Charles and Lady Diana Spencer married at Westminster Abbey in July, a globally televised event. The average U.S. home prices rose to $83,000, but another recession took hold in July.
1982
Average home sale price (in year sold): $83,900
Average home sale price (in 2024): $277,298
In 1982, home prices ticked up slightly, primarily due to the lasting effects of a recession that began in July 1981 and didn’t end until November 1982. Things were even worse in the stock market, which foresaw the recession and began dropping all the way back in November 1980. The economy didn’t recover until August 1982, after suffering a 27.8 percent loss in the S&P 500 index. In the entertainment industry, Michael Jackson released the biggest-selling album of all time, “Thriller.”
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1983
Average home sale price (in year sold): $89,800
Average home sale price (in 2024): $286,490
Median home prices jumped significantly in 1983, as the country emerged from recession. Amid Cold War tensions, Soviet fighter jets shot down Korean Air Lines Flight 007, killing all 269 passengers aboard. Just three weeks later, a Soviet military officer was credited with “saving the world” after ignoring indications of an inbound missile attack from the United States. It turned out to be a false alarm, and the officer prevented a potential nuclear war by choosing not to act. 1983 also watched Sally Ride become the first American woman in space.
1984
Average home sale price (in year sold): $97,600
Average home sale price (in 2024): $297,111
Apple Computer launched the Macintosh computer in 1984, heralding a new age of home computing. The Soviet Union boycotted the 1984 Los Angeles Olympics in reciprocity for the American boycott of 1980. Ronald Reagan was reelected president in a landslide, with opponent Walter Mondale winning only the District of Columbia and his home state of Minnesota in the electoral college vote.
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1985
Average home sale price (in year sold): $100,800
Average home sale price (in 2024): $295,893
The U.S. economy continued to hum in 1985, with home prices rising to $100,800. “We Are the World” was recorded, featuring a host of international superstars, and the Titanic was discovered at the bottom of the ocean. The Geneva Summit saw President Reagan and Soviet leader Mikhail Gorbachev shaking hands in the midst of Cold War tensions.
1986
Average home sale price (in year sold): $111,900
Average home sale price (in 2024): $321,231
1986 began in tragedy, with the explosion of the Space Shuttle Challenger on Jan. 28, just 73 seconds after takeoff. In April, a flawed reactor caused the Chernobyl nuclear disaster in Ukraine. However, 1986 was also the year of triumph, as legendary golfer Jack Nicklaus won his most improbable Masters Tournament championship at age 46. Halley’s Comet also returned for its first visit since 1910.
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1987
Average home sale price (in year sold): $127,200
Average home sale price (in 2024): $354,403
1987 saw a big jump in median home prices — up to $127,200. That was countered, however, by the devastation on Wall Street near the end of the year. On Oct. 19, the Dow Jones Industrial Average had its biggest one-day percentage drop in history, falling 22.6 percent and earning the name “Black Monday.” 1987 also saw the unfolding of the Iran Contra scandal, a complicated governmental scandal that threatened to bring down the Reagan administration.
1988
Average home sale price (in year sold): $138,300
Average home sale price (in 2024): $370,777
In 1988, George H.W. Bush defeated Michael Dukakis in the presidential election. In July, the cruiser USS Vincennes accidentally shot down Iran Air Flight 655, killing all 290 aboard. In December, Libyan terrorists exploded a bomb aboard Pan Am Flight 103, killing 259 passengers aboard and 11 more people on the ground.
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1989
Average home sale price (in year sold): $148,800
Average home sale price (in 2024): $380,008
1989 was another year for growing home prices. It was also a historic moment in global history, as the Berlin Wall came down in November. In China, troops fired on protesters in Tiananmen Square, killing hundreds or even thousands. 1989 also witnessed the birth of a new era in technology, when Tim Berners-Lee created the World Wide Web.
1990
Average home sale price (in year sold): $149,800
Average home sale price (in 2024): $363,538
The first recession in nearly a decade began in July 1990, resulting in a modest $1,000 gain in the average home price in the U.S., to $149,800. Operation Desert Shield began as an attempt to protect Kuwait after the invasion of Iraq. The Hubble Space Telescope was launched aboard the Space Shuttle Discovery, going on to provide countless scientific advances and incredible astronomical photos. And in February, Nelson Mandela was freed after 27 years of imprisonment.
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1991
Average home sale price (in year sold): $147,200
Average home sale price (in 2024): $340,558
The recession of 1990 continued on all the way until March 1991. Housing prices followed suit, with the national average home price actually dropping back down to 1989 levels. Operation Desert Shield turned into Operation Desert Storm, with American-led forces bombing Saddam Hussein’s Iraqi army into submission. Freddie Mercury, flamboyant lead singer of the rock group Queen, died in November.
1992
Average home sale price (in year sold): $144,100
Average home sale price (in 2024): $323,094
Home prices inched up in 1992, although they still remained below 1990 levels. In Minnesota, the largest mall in America, appropriately named the Mall of America, was built. Riots break out over the acquittal of police officers seen on videotape beating motorist Rodney King in Southern California, and Bill Clinton was elected president over incumbent George H.W. Bush.
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1993
Average home sale price (in year sold): $147,700
Average home sale price (in 2024): $321,250
1993 saw the first World Trade Center bombing, in which six were killed and 1,000 were injured. Federal agents raided the Waco, Texas, compound of Branch Davidian leader David Koresh, leading to the deaths of four agents and approximately 80 Branch Davidians, including some of their children. 1993 also marked the debut of Beanie Babies and Intel’s Pentium processor.
1994
Average home sale price (in year sold): $154,500
Average home sale price (in 2024): $327,821
On Jan. 17, 1994, the Northridge earthquake rocked the greater Los Angeles area, causing billions of dollars in damage and killing 54 people. 1994 also marked the deaths of Kurt Cobain, former President Nixon and former first lady Jacqueline Kennedy Onassis. Nicole Brown Simpson and Ronald Goldman were found murdered in June, leading to the arrest of former football star O.J. Simpson.
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1995
Average home sale price (in year sold): $158,700
Average home sale price (in 2024): $327,392
In April, ex-Army soldier Timothy McVeigh detonated a bomb at the federal building in Oklahoma City, killing 168 in the worst case of domestic terrorism in U.S. history at the time. O.J. Simpson’s trial ended with an acquittal, Microsoft released its Windows 95 program and a 19-year-old named Tiger Woods won the U.S. Amateur golf championship.
1996
Average home sale price (in year sold): $166,400
Average home sale price (in 2024): $333,796
1996 was a difficult year for aviation, with ValuJet Flight 592 crashing into the Florida Everglades and TWA Flight 800 exploding in mid-air off the coast of New York. After an 18-year search, the Unabomber, Ted Kaczynski, was arrested. In November, incumbent President Bill Clinton defeated Republican Bob Dole to retain the White House.
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1997
Average home sale price (in year sold): $176,200
Average home sale price (in 2024): $343,956
Sixteen years after her celebrated wedding, Diana, Princess of Wales, died in a Paris car accident in August. China began its “one country, two systems” policy with the peaceful handover of Hong Kong from Great Britain. The stock market had a “flash crash” and recovery, dropping 7.18% and then roaring back 4.71% the following day.
1998
Average home sale price (in year sold): $181,900
Average home sale price (in 2024): $350,266
Average home sale prices first went above $180,000 in 1998. In April, the Good Friday agreement was signed in Northern Ireland, bringing 30 years of sectarian violence known as “The Troubles” to a close. Trouble of a different kind was brewing in the White House, where President Bill Clinton’s denials of a relationship with intern Monica Lewinsky led to his impeachment.
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1999
Average home sale price (in year sold): $195,600
Average home sale price (in 2024): $370,255
1999 was the end of a millennium, but rather than excitement, it brought panic to a number of companies and computer specialists. The concern was the “Y2K bug,” which threatened to throw the world’s computer systems into chaos. Since most computer programs only used two digits to represent the year, as a method to save space in computer memories, the fear was that when the year 2000 hit, computer systems might think it was actually 1900. Thankfully, a year of feverish preparation was enough to avoid any major problems.
2000
Average home sale price (in year sold): $207,000
Average home sale price (in 2024): $377,644
Home prices kept recovering in the first year of the new millennium, up to an average sale price of $207,000. However, the stock market was about to face years of problems. The dot-com “bubble,” created by a tremendous run-up in stock prices at the end of the decade, set off a 30-month downturn in the markets. In December, the Supreme Court made a landmark decision that handed victory in the presidential election to George W. Bush over Al Gore.
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2001
Average home sale price (in year sold): $213,200
Average home sale price (in 2024): $377,918
Undoubtedly, 2001 is best remembered by the 9/11 attacks on U.S. soil. Two hijacked planes took down both World Trade Center towers in New York, a third crashed into the Pentagon, and passengers and crew on a fourth plane bravely fought the hijackers for control of that aircraft before it crashed into the countryside in Shanksville, Pennsylvania. There were nearly 3,000 victims, not including the first responders who later became ill from exposure to toxins. 2001 saw the continued unraveling of the nation’s stock markets, along with a recession lasting from March to November. Still, the housing market continued churning higher, up to a median price of $213,200.
2002
Average home sale price (in year sold): $228,700
Average home sale price (in 2024): $399,498
The stock market carnage finally ended in 2002, after 30 months of decline and a total drop of 49.1% in the S&P 500 index. However, the combination of generally poor economic conditions and the aftermath of the 9/11 attacks drove carrier U.S. Airways into bankruptcy. The world’s No. 2 airline, United Airlines, followed soon after by also filing for bankruptcy.
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2003
Average home sale price (in year sold): $246,300
Average home sale price (in 2024): $417,630
2003 marked the completion of the Human Genome Project, which successfully mapped the genetic makeup of human beings. It also marked the breakup of the Space Shuttle Columbia upon reentering Earth, killing all seven astronauts aboard. The average home sale price in the U.S. kept creeping higher, hitting $246,300.
2004
Average home sale price (in year sold): $274,500
Average home sale price (in 2024): $457,498
Incumbent President George W. Bush held off opponent John Kerry to retain the White House. And in December, a 9.1 magnitude earthquake struck Indonesia — triggering a tsunami that caused widespread devastation.
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2005
Average home sale price (in year sold): $297,000
Average home sale price (in 2024): $479,889
2005 recorded the incredible aviation exploits of Steve Fossett, who completed the first-ever solo circumnavigation of Earth without refueling on the Virgin Atlantic “Global Flyer.” It also marked the first flight of the world’s largest passenger plane, the double-decker Airbus A380. Home prices continued to rise, jumping $22,500 to 2005’s average home sale price of $297,000.
2006
Average home sale price (in year sold): $305,900
Average home sale price (in 2024): $478,190
Saddam Hussein was tried and executed by the U.S. in 2006. The 2001 collapse of Enron culminated in the 2006 sentencing of top executives Kenneth Lay and Jeffrey Skilling. In October, Google announced that it was buying YouTube, a company that had been founded less than one year before. Amid these breaking news stories, home prices continued to climb, along with subprime lending practices, with few anticipating the bubble burst that would soon follow.
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2007
Average home sale price (in year sold): $313,600
Average home sale price (in 2024): $476,973
2007 held the highest home price for years to come, topping out at $313,600. As signs of economic collapse were approaching, the stock market began a brutal 17-month selloff starting in October.
2008
Average home sale price (in year sold): $292,600
Average home sale price (in 2024): $427,992
Real estate prices plummeted and the economy faltered in 2008 as the Great Recession took hold at the end of the second Bush administration. The Federal Reserve pegged the timetable for the recession from late 2007 until June 2009, and key economic indicators — from the gross domestic product to unemployment to the S&P 500 index to household net worth – took sharp tumbles. The chore of righting the nation’s economy fell to Barack Obama, who in November was elected the first Black president of the United States.
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2009
Average home sale price (in year sold): $270,900
Average home sale price (in 2024): $397,777
Housing prices fell again this year, winding up back at 2004 levels. To fight the Great Recession, President Obama signed into law the American Recovery and Reinvestment Act of 2009, a $787 billion stimulus bill, with hopes of ending the economic downturn. Singer Michael Jackson was found dead in his mansion in the Los Angeles area, ruled to be caused by an overdose of prescription drugs, and Sen. Edward Kennedy lost his battle with cancer. In one of the most inspiring stories of the year, Capt. Chesley Sullenberger guided US Airways Flight 1549 to an emergency landing on the Hudson River in New York, keeping the aircraft from crashing to earth with 155 passengers and crew on board.
2010
Average home sale price (in year sold): $272,900
Average home sale price (in 2024): $391,651
Health insurance become available to Americans who didn’t have medical coverage when President Obama signed the Affordable Care Act – known as Obamacare – into law. Shares of BP stock plunged after the explosion of the Deepwater Horizon drilling rig, which killed 11 people and led a financial loss of billions for BP. On the positive side, Apple continued its innovations in the tech world in 2010, releasing the first iPad.
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2011
Average home sale price (in year sold): $267,900
Average home sale price (in 2024): $374,434
The economy took center stage in 2011 as fears of another recession took hold. Legislators had a showdown in April over the budget, which could have resulted in a federal government shutdown. By summer, the financial battle in Congress moved toward discussion of the debt ceiling. In May, Osama bin Laden, who was behind 9/11 terror attacks, was killed by U.S. special forces.
2012
Average home sale price (in year sold): $292,200
Average home sale price (in 2024): $397,849
President Obama won re-election, defeating Republican challenger Mitt Romney, and the economy improved, with a decrease in unemployment, an increase in stock prices and new homes being built. But it was a year of tragedy. Superstorm Sandy ravaged parts of the eastern Seaboard, particularly New Jersey and New York, and left 125 people in the region dead and caused $60 billion in damages. And mass shootings continued to impact the country and even the youngest residents. At Sandy Hook Elementary School in Newtown, Connecticut, a gunman killed 20 children who were 6 and 7 years old, along with six staff members in December.
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2013
Average home sale price (in year sold): $324,500
Average home sale price (in 2024): $435,410
President Obama was sworn in for his second term in January, and less than two months later, sequestration — forced cuts to the federal budget – took effect. In October, the government shut down for about two weeks until Congress reached agreement on funding. In good financial news, housing prices climbed to $324,500, finally passing the 2007 benchmark. Internationally, Prince William and his wife, Kate Middleton, welcomed their first child, Prince George. At birth, the young prince is third in line to the British throne.
2014
Average home sale price (in year sold): $347,700
Average home sale price (in 2024): $459,590
2014 saw the economy make its biggest rebound from the Great Recession, with U.S. News & World Report sharing good numbers: the strongest monthly job growth since 1999, the lowest unemployment rate since mid-2008 and lower gas prices. Those factors combined to boost consumer confidence to the highest level in seven years at the end of 2014.
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2015
Average home sale price (in year sold): $352,700
Average home sale price (in 2024): $466,542
In the spring of 2015, home building numbers were their best since 2007, and within a few months, home prices hit a record as sales surged. The average home sale price reached $352,700. Actions by the U.S. Supreme Court took center stage in the middle of 2015, when on back-to-back days, the justices voted to uphold Obama-era policies that allowed for subsidies for health insurance and to make same-sex marriage legal in all 50 states.
2016
Average home sale price (in year sold): $360,900
Average home sale price (in 2024): $473,354
Businessman and reality television star Donald Trump was elected president, defeating former Secretary of State Hillary Rodham Clinton. Two weeks later, the Dow Jones Industrial Average closed at about 19,000 for the first time. It also was the year average home sale prices crossed the $360,000 barrier for the first time. In sports, the Chicago Cubs won their first World Series since 1908, ending what was known as the “Curse of the Billy Goat.”
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2017
Average home sale price (in year sold): $384,900
Average home sale price (in 2024): $462,347
Economic news in the U.S. largely was strong as the economy grew by 2.3% for the year, up from 1.5% the prior year. President Trump had set a target of 3% growth for his first year in office. Consumer confidence reached its highest point since 2000, and unemployment was the lowest in that same period, CNN reported. Other parts of the Trump agenda begin to take hold, including his tough stance on immigration and an eventual shift of the U.S. Supreme Court to the right with the confirmation of Neil Gorsuch. In the late summer, parts of Texas, Louisiana and Florida were devastated by a pair of hurricanes.
2018
Average home sale price (in year sold): $385,000
Average home sale price (in 2024): $481,851
The stock market in 2018 was a roller coaster as highs and lows abounded. On Jan. 4, the Dow closed above 25,000 for the first time, and just two weeks later, it exceeded 26,000. But on Feb. 5, it had its worst one-day drop, falling by 1,597 points. For the year, CNN reported it was the worst year for stocks in a decade span, with the Dow, S&P 500 and Nasdaq all falling. Against this backdrop, housing costs had only a modest increase in median prices.
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2019
Average home sale price (in year sold): $383,900
Average home sale price (in 2024): $471,689
As housing prices dip slightly, President Trump battles on multiple levels. He renews his pitch for a wall to be built at the border, prosecutors in Manhattan ask to see his tax returns amid an investigation into financial improprieties, and Democratic challengers start lining up to run against him in 2020. Former FBI director Robert Mueller, serving as special counsel, completes his investigation into whether the Trump campaign colluded with Russia, but charges are not brought.
But by the end of the year, the House of Representatives voted to impeach President Trump for abuse of power and obstruction of Congress in regard to his handling of issues with Ukraine.
2020
Average home sale price (in year sold): $391,900
Average home sale price (in 2024): $474,219
The death of NBA legend Kobe Bryant, his 13-year-old daughter and seven others in a helicopter crash in Southern California on Jan. 26 foreshadowed a devastating year ahead. Just days before the accident, the first case of coronavirus was detected in the U.S. in a person who had traveled recently from China. That same month, the U.S. Senate did not vote to remove the impeached president from office.
By March, the coronavirus had taken hold in the United States, and the president declared a national emergency, making $50 billion in federal funds available to fight the threat. Non-essential businesses shut down – some permanently — major sports leagues ceased play, travel bans from abroad were installed and unemployment soared. By Sept. 22, more than 200,000 people had died from the virus.
Also in 2020, the nation’s race relations continued to sour after the death of George Floyd in Minneapolis at the hands of police, and voters elected Joe Biden, the former vice president, as the 46th president in a rebuke of Donald Trump.
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2021
Average home sale price (in year sold): $464,200
Average home sale price (in 2024): $547,365
By 2021, Americans who had been cooped up because of the coronavirus were ready to move, either seeking space for social distancing or new homes that would suit a new work-from-home, exercise at home lifestyle. A limited supply of existing homes for sale and a slowdown in building new homes led demand to greatly outpace supply, sending housing prices way up – 18.8%, CNN reported.
The year to come got off to a rocky start because of three Wednesdays in January: Jan. 6, when Trump supporters rioted at the Capitol to protest the election results and attempt to keep them from coming official; Jan. 13, when the House voted, for a second time, to impeach Trump, this time for incitement of insurrection over the actions of the Jan. 13 mob; and Jan. 20, the day President Biden took office.
Just a month later, President Biden attended a candlelight service to mark 500,000 coronavirus deaths.
2022
Average home sale price (in year sold): $540,000
Average home sale price (in 2024): $586,633
Despite a cooling economy and a rise in mortgage interest rates, homebuyers continued to look for new housing as rental rates skyrocketed. Overall, on the economy front, the news was not all good. Inflation rose to its highest level in 40 years and so did the cost of living. The Fed raised interest rates seven times to try to combat inflation. On the flip side, unemployment rates matched a 53-year low by the end of the year.
Some of the economic stress was caused by the Russian invasion of Ukraine, which led to higher costs for food, energy and raw materials.
2023
Average home sale price (in year sold): $513,800
Average home sale price (in 2024): $531,667
Jami Farkas and Heather Taylor contributed to the reporting of this article.
Methodology: For this study, GOBankingRates found the national average home sale price from 1963 to 2023 in years sold dollars as well as current dollars. Using the US Census’s New Residential Construction Average Home Sale Price, GOBankingRates found the historical average home sales price starting in 1963. Using the Bureau of Labor Statistics Consumer Price Index Inflation Calculator, the historical home price can be calculated in 2024 dollars. All data was collected on and is up to date as of April 11th, 2024.
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This article originally appeared on GOBankingRates.com: What an Average Home Cost in the Year You Were Born
