Median home price graph

Median home price graph DEFAULT

Housing prices

Housing prices include housing rent prices indices, real and nominal house prices indices, and ratios of price to rent and price to income.

In most cases, the nominal house price index covers the sales of newly-built and existing dwellings, following the recommendations from the RPPI (Residential Property Prices Indices) manual.

The real house price index is given by the ratio of the nominal house price index to the consumers’ expenditure deflator in each country from the OECD national accounts database. Both indices are seasonally adjusted.

The price to income ratio is the nominal house price index divided by the nominal disposable income per head and can be considered as a measure of affordability.

The price to rent ratio is the nominal house price index divided by the housing rent price index and can be considered as a measure of the profitability of house ownership.

The price to income and price to rent ratios are indices with base year

Sours: https://data.oecd.org/price/housing-prices.htm

Housing price statistics - house price index

Annual and quarterly growth rates

The HPI shows the price changes of residential properties purchased by households (flats, detached houses, terraced houses, etc.), both newly-built and existing ones, independently of their final use and independently of their previous owners.

The index levels ( = ) for house prices of the euro area and EU aggregates are shown in Figure 1. After a slight increase between the first quarter of and the second quarter of , house prices showed a sharp decline until the first quarter of Then, they remained more or less stable until and rose sharply since early Both the euro area and the EU follow a similar trend.

Figure 1: House Prices – Euro area and EU aggregates – Index levels ( = ), QQ2 – Source: Eurostat (prc_hpi_q)

The annual growth rate of the euro area and EU HPIs from the first quarter of to the second quarter of are presented in Figure 2. Looking in detail at the entire period, the annual growth rate for the euro area HPI reached a maximum of +&#;% in the second quarter of and a minimum of &#;% in the first quarter of For the EU HPI, the annual growth rate reached a maximum of +&#;% in the second quarter of and a minimum of &#;% in the second and third quarters of Between and , the annual growth rate has remained rather stable for both the euro area and the EU (between +&#;% and +&#;%). Since the first quarter of , the annual growth rate for both the euro area and the EU reached again levels that had not been recorded since (between +&#;% and +&#;%).

Figure 2: House Prices – Euro area and EU aggregates – Annual rates of change, QQ2 (%) – Source: Eurostat (prc_hpi_q)

Table 1 presents the quarterly and annual rates of change for the HPI for the most recent four quarters.

Among the Member States for which data are available, eleven showed an annual increase of their house prices, in the second quarter of , of more than 10&#;%. The highest annual increases were recorded in Estonia (+&#;%), Denmark (+&#;%) and Czechia (+&#;%), while prices fell only in Cyprus (&#;%).

Compared with the previous quarter, prices increased in all Member States. The highest increases were recorded in Latvia (+&#;%), Slovenia (+&#;%) and Austria (+&#;%).

Table 1: House Prices – Quarterly and annual rates of change, QQ2 (%) – Source: Eurostat (prc_hpi_q)

Dynamics in the housing market: uses of the house price index and policy implications

The HPI has been used in conjunction with other macroeconomic statistics to build derived indicators for the analysis of the housing market dynamics.

A well-known example is the deflated (or real) house price index, which is part of the Scoreboard of indicators used in the Macroeconomic Imbalances Procedure (MIP) of the European Commission. See the dedicated section on Eurostat website and ECFIN web page.

The deflated HPI is the ratio between the nominal HPI and an index of consumer price inflation. A consumer price index, such as the HICP, or a national accounts final consumption deflator can be used for stripping out consumer prices inflation from the HPI. The deflated HPI included in the MIP Scoreboard and in this publication uses the national accounts household final consumption deflator. The deflated HPI growth rate is a key variable for the analysis of house price cycles. In particular, a too high growth rate is considered an early warning indicator of tensions in the real estate market signalling the risk of price bubbles. The alarm threshold adopted in the context of the MIP is 6&#;% of annual growth rate in the deflated HPI. The level of the threshold was established by the European Commission. It was set on the basis of an analysis of historical data on past boom and bust cycles of house prices.

The deflated HPI for the euro area is presented in Figure 3 (quarterly index) and Figure 4 (annual rate of change).

Between and , the decreasing trend (or negative annual rate of change) reflects the fact that house prices in the euro area decreased or increased less than inflation. In , house prices started to increase more than inflation and, since , house prices increased &#;% to &#;% more than inflation.

There are significant differences between Member States, as can be seen in Table 2 (annual deflated HPI). Figure 5 illustrates the magnitude of the differences in the annual rate of change for the year

Between and , every year, house prices increased more than inflation in 25 to 26 EU countries. In , the highest differences between annual changes of house prices and the annual inflation rate were recorded in Luxembourg (+&#;%), Croatia and Portugal (+&#;% each), Slovakia (+&#;%), Germany (+&#;%) and Poland (+&#;%).

Figure 3: Deflated House Prices – Euro area – Index levels ( = ), QQ2 – Source: Eurostat (tipsho30)
Figure 4: Annual deflated House Prices – Euro area – Rates of change, (%) – Source: Eurostat (tipsho10)
Table 2: Annual deflated House Prices – Member States - Rates of change, (%) – Source: Eurostat (tipsho10)
Figure 5: Annual deflated House Prices – Member States – Rates of change, (%) – Source: Eurostat (tipsho10)

Long term trends in House prices and rents

Figures 6 and 7 below show the long term trends of house prices and rents (since ).

Over the period until the second quarter of , rents increased by &#;% and house prices by &#;%.

Rents and house prices in the EU have continued their steady increase in the second quarter of , going up by &#;% and &#;% respectively, compared to the second quarter of

Between and the second quarter of , house prices and rents in the EU followed similar paths. Since the second quarter of , they have followed very different paths: while rents increased steadily throughout the period up to the second quarter of , house prices have fluctuated significantly.

After a sharp decline between the second quarter of and the first quarter of , house prices remained more or less stable between and Then, there was a rapid rise in early , since when house prices have increased at a much faster pace than rents.

When comparing the second quarter of with , house prices increased more than rents in 18 EU Member States. House prices increased in 23 Member States and decreased in four, with the highest rises in Estonia (+&#;%), Luxembourg (+&#;%) and Hungary (+&#;%). Decreases were observed in Greece [1] (&#;%), Italy (&#;%), Cyprus (&#;%) and Spain (&#;%).

For rents, the pattern was different. When comparing the second quarter of with , prices increased in 25 EU Member States and decreased in two, with the highest rises in Estonia (+&#;%), Lithuania (+&#;%) and Ireland (+&#;%). Decreases were recorded in Greece (&#;%) and Cyprus (&#;%).

Weights for the calculation of house price indices

Weights for the euro area and the EU

The House Price Indices (HPI) for the euro area and EU aggregates are calculated as weighted averages of the national HPIs, currently using as weights the GDP at market prices (based on PPS) of the countries concerned. The weights used in are based on data for

HPIs are computed as Laspeyres-type annual chain indices allowing weights to be changed each year.

Figure 8 shows the weights used for the calculation of the EU HPI aggregates.

Figure 8: Weights of Member States in the EU House Prices aggregate, (%) – Source: Eurostat (nama_10_gdp)

Figure 9 shows the weights used for the calculation of the euro area HPI aggregates.

Figure 9: Weights of Member States in the euro area House Prices aggregate, (%) – Source: Eurostat (nama_10_gdp)

Weights for new and existing dwellings sub-indices

In addition to the price index for total dwellings transacted in the market, Eurostat publishes separate indices for newly built and existing dwellings. The separation of dwellings into newly built and existing is relevant due to their often different price evolutions. Due to limited data availability, no European aggregates are compiled for these sub-categories.

The weights of the indices for new and existing dwellings are disseminated as parts per thousand of the expenditure (with total dwellings = new dwellings + existing dwellings = 1&#;). The weights for the indices are illustrated in Figure 10, for available countries.

Figure Weights of new and existing dwellings in total dwellings – Member States, (‰) – Source: Eurostat (prc_hpi_inw)

Source data for tables and graphs

Data sources

Methodological background information is given in the Handbook on Residential Property Prices Indices (RPPIs) .

Compilation

The first and most important issue in the compilation of HPI is the availability of data on dwelling purchases. This refers to information about the price of the transaction and the dwelling characteristics. The dwelling characteristics which most influence price are the type of dwelling (flat, detached house, terraced house, etc.), its size and location. A second issue is the heterogeneity of the housing market, where virtually every dwelling bought and sold is different from the others in some respect. The consequent quality adjustment from one time period to the next is also a major methodological issue in compiling house price indices. The HPI should be seen as an independent price index aimed at measuring price developments for dwellings transacted in the market. The main technical characteristics of the HPI are:

  • the price of land is included in the price and in the weight (gross acquisition concept);
  • only actual transactions of dwellings are covered;
  • market prices for residential properties are covered, while non-market prices are ruled out of the scope of the HPI; meaning that self-built dwellings are excluded, with the possible exception of turnkey pre-fabricated houses;
  • the focus is on the measurement of price developments for all residential properties purchased by households, independently of their final use; so dwellings bought by households for uses other than owner-occupancy are included, for example for investment;
  • all purchases of new and existing dwellings are to be considered, independently of their previous owner; so existing dwellings transacted between households are included.

Prices cover the acquisition cost of a property in itself, and not the total cost that is necessary to acquire, own and maintain a residential property; so other costs related to the acquisition of the property and major repairs are ruled out from its scope.

Additional information on national house price data

Below you can find the available links to the national statistical institutes' websites dealing with housing price statistics. These links contain, in some cases, additional data on housing or methodological notes regarding the compilation of house price indices. Where there is no specific link on housing, a general link to the NSI website is provided.

  • Belgium: data provided by Statbel, the Belgian statistical office.
  • Czechia: data provided by the Czech Statistical Office can be found here.
  • Ireland: Central Statistics Office Ireland (OOH project), Residential Property Price Index (RPPI); data can be accessed at the website of the Central Statistics Office.
  • Spain: data based on OOH pilot study, provided by INE (complemented with Eurostat estimates for QQ3 based on non-harmonised data); the link to the INE website dealing with housing price index: Methodology and results (press release, quarterly series, annual averages indices and weightings) are available therein.
  • Italy: provisional data provided by the Italian National Institute of Statistics; see press release and methodological note in English and Italian version.
  • Latvia: data based on OOH pilot study provided by Central Statistical Bureau of Latvia (complemented with Eurostat estimates based on non-harmonised data for ); link to the website of Central Statistical Bureau of Latvia; link to the short-term data and annual data - HPI statistics database, domain 'Consumer prices'.
  • Lithuania: Statistics Lithuania data about Housing price statistics can be found in the Database of indicators => Economy and finance (macroeconomics) => Price indices, changes and prices => House price index (HPI), price changes and index weights => Owner-occupied housing price index, price changes and index weights.
  • Luxembourg: data based on OOH pilot study (complemented with estimates) provided by the National Statistical Institute of Luxembourg (STATEC); methodological information available on STATEC’s website for the HPI.
  • Hungary: data provided by the Hungarian Central Statistical Office; a publication on home prices is available on the website of the Hungarian Central Statistical Office: Housing prices, housing price index, a series of statistical tables are also published in the annex.
  • Austria: data based on OOH pilot study, provided by Statistics Austria (complemented by Eurostat with non-harmonised estimates for the years ).
  • Portugal: sources for Q1-onwards, House Price Index (Statistics Portugal), methodology available on the website of Statistics Portugal (in Portuguese only); for , price indexes estimated by Statistics Portugal using bank appraisals data; for the QQ4, Eurostat’s estimates based on non-harmonised data.
  • Romania: data based on OOH pilot study, provided by the National Statistical Institute of Romania (complemented by Eurostat with non-harmonised estimates for the years ). The document on which HPI data are published is the 'Prices statistical bulletin'; information and data on dwelling price indices can be found at the Methodological Note and in the table for 'Residential Property Price Indices'.
  • Slovakia: data based on OOH pilot study, provided by the Statistical Office of the Slovak Republic (complemented with Eurostat estimates for the year based on non-harmonised data); link to the website of the Statistical Office of the Slovak Republic.
  • Sweden: data based on OOH pilot study, provided by Statistics Sweden can be found here.
  • Iceland: data provided by Statistics Iceland; currently Statistics Iceland doesn't have a special page or metadata for the house price index; the Icelandic house price index can be found here.
  • Norway: data provided by Statistics Norway. For more information on the Norwegian HPI see here.

Context

In recent years, the analysis of housing markets has intensified as has the demand for high quality statistics on national, euro area and EU housing, in particular on residential property price indices. Eurostat and the national statistical institutes have been working together since on a series of pilot projects to set up a system to provide harmonised data for residential property prices at European level. Prior to this work, there was very little comparability between national data on housing prices within the EU. The development of comparable, timely and frequent statistics on changes in residential property prices has been considered an essential target for European statistics.

In this context, the terms 'residential property price', 'house price' and 'dwelling price' are used interchangeably to describe the price developments of all residential properties purchased by households (flats, detached houses, terraced houses, etc.), both new and existing, independent of their final use and independent of their previous owners. The emphasis is on market prices, with non-market prices being ruled out from the scope of the house price indices (self-build dwellings are therefore excluded. The price of dwellings follows a gross acquisition concept, i.e. it includes the land price component.

Sours: https://ec.europa.eu/eurostat/statistics-explained/index.php/Housing_price_statistics_-_house_price_index
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Spain’s housing market cooling rapidly, amidst economic slump

Lalaine C. Delmendo | January 26,

After five consecutive years of modest house price increases, Spain’s housing market is cooling rapidly again, amidst an economic slump caused by the COVID pandemic.  Nevertheless Spain is once again looking like a possible investment destination, as yields rise.

Spain houses for sale

Spanish house prices rose slightly by % during the year to Q3 (% inflation-adjusted), a sharp slowdown from the previous year’s % rise, according to the Instituto Nacional de Estadistica (INE). On a quarterly basis, house prices increased % in Q3 (% inflation-adjusted).

By property type:

  • Existing dwellings: prices rose by a minuscule % during the year to Q3 (% inflation-adjusted), the slowest growth in six years.
  • New dwellings: prices continue to rise strongly by % y-o-y in Q3 (% inflation-adjusted), slightly up from the annual rise of % in Q3

By autonomous regions, Melilla saw the biggest y-o-y price growth during the year to Q3 , at % (% inflation-adjusted), followed by Ceuta (%), Balears (%), Murcia (%), Asturias (%), Aragón (%), Castilla y León (%), and Valencian Community (%).

Minimal house price increases were seen in Galicia (%), País Vasco (%), Navarra (%), Cataluña (%), Canarias (%), Castilla - La Mancha (%), Cantabria (%), Andalucía (%), Madrid (%), and La Rioja (%). House prices were unchanged in Extremadura.

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Spain’s housing market only returned to growth in , having fallen by % (% inflation-adjusted) from Q3 to Q1 , with existing home prices falling by as much as % (% inflation-adjusted), based on figures from INE. There were 24 consecutive quarters of y-o-y declines.

House prices rose by an annual average of % (% inflation-adjusted) from to

SPAIN’S HOUSE PRICE INDEX, ANNUAL CHANGE (%)

YearNominalInflation-adjusted
Sources: Bank of Spain, Global Property Guide

Demand is now falling sharply. Home sales in Spain fell sharply by % to , units in the first ten months of compared to the same period last year, after a modest annual decline of % in , according to the Instituto Nacional de Estadistica (INE). The number of transactions for second-hand houses was down by % y-o-y while transactions for newly built houses dropped %. All of the autonomous regions saw falling demand.

Foreign demand, which buoyed the Spanish housing market in recent years, is also falling rapidly. In the first half of , home sales to foreigners plummeted by 37% from a year earlier, according to the latest figures from the Association of Spanish Notaries.

Spain house price index region

Standard & Poor’s projects a % decline in Spanish house prices by end

The COVID pandemic has severely hurt Spain’s already weakening economy. The Bank of Spain expects the economy to have contracted by % in , and to rebound with % growth this year. The European Commission and the IMF released gloomier projections of contractions of % and %, respectively.

Foreigners have a right to buy and resell all kinds of property - residential, commercial or land, with no limits.

Home sales plunging

Home sales in Spain fell by % to , units in the first ten months of compared to the same period last year, after a modest annual decline of % in and y-o-y rises of % in , % in , 14% in and % in , according to the Instituto Nacional de Estadistica (INE).

All autonomous regions saw falling demand. During the first ten months of , Ceuta recorded the biggest fall in sales of %, followed by Valencian Community (%), Madrid (%), Balears (%), Cataluña (%), Canarias (%), Navarra (%), Andalucia (%), Galicia (%), Pais Vasco (%), and La Rioja (%).

Sales were also falling in Castilla y León (%), Melilla (%), Castilla La Mancha (%), Aragón (%), Cantabria (%), Asturias (%), Murcia (%), and Extremadura (%).

Spain residential transactions

After reaching a decade high of almost , home sales in , demand slowed slightly in , with a % fall in sales.  Yet it remained the second highest level since

Foreign demand falling sharply

Foreign investors started to return to the Spanish property market in In , foreign homebuyers bought over 65, homes in Spain, up % from a year earlier, following annual growth of % in However, foreign homebuying slowed in the past two years and the COVID pandemic has aggravated the situation in

The Golden Visa scheme, applicable since 30th September , has increased interest not only from the Middle East but also Asia and Russia. Any non-EU national bringing more than €, to invest is automatically granted a Spanish residency permit.

In , Spain granted Golden Visas to foreigners via the real estate option – up % from a year earlier and the highest figure ever recorded. Overall, the country granted a record 8, Golden Visas in , up sharply by % compared to

However due to the pandemic, Golden Visas approved via the real estate investment option fell to just in the first five months of , compared to in the prior year. Chinese real estate investors fell from to 65 over the same period while Russians fell from 21 to 6.

The Balearic Islands are especially attractive to foreigners with about one third of total demand coming from foreigners, mainly due to its white-sand beaches and sunny Mediterranean landscape. It is followed by the Canary Islands, Valencian Community, Murcia, and Andalucia.

In recent years, foreign homebuyers accounted for about 12% to 20% of all home sales in Spain annually, sharply up from just a % share in   Britons remain the number one foreign homebuyers in Spain in H1 , making about 14% of all home purchases by foreigners.

Spanish real house prices still 32% below peak!

From to , Spain’s national average house price rose by % (% inflation-adjusted), one of Europe’s highest house price increases. The price of coastal properties surged % (% inflation-adjusted) from to , as hundreds of thousands of foreigners, mainly from the UK, France and Germany, bought property.

In Madrid and Barcelona house prices rose % (% inflation-adjusted) from to , while prices in other inner provinces rose by % (% inflation-adjusted).

Spain house price index type

The boom ended abruptly in in a housing slump which battered the Spanish economy, and brought spiraling unemployment. Developers were left with blocks of unsold properties and massive debts.

Despite the price rises in the past five years ( to ), nationwide house prices are still about 23% (% inflation-adjusted) below the peak levels seen before the global crisis.

Land prices are falling sharply

The average price of urban land transactions in Spain plummeted by % to € per sq. m in Q3 from a year earlier, in contrast to a % y-o-y increase in Q3 , according to the Ministry of Development.

Spain urban land prices

Thirteen of the 17 autonomous communities where figures are available saw land price declines during the year to Q3

  • In Madrid, average urban land prices fell by % to € per sq. m, in stark contrast to a whopping % increase in Q3
  • In Andalucia, land prices fell by % to an average of € per sq. m, compared to a y-o-y increase of % in the prior year.
  • In Cataluña, the country’s second largest region, land prices fell by % y-o-y to € per sq. m, in contrast to an annual rise of % in a year earlier.
  • In Castile-La Mancha, the average land price was down % to € per sq. m., following a slight increase of % in Q3
  • In Galicia, land prices plummeted by 18% to an average of € sq. m, in sharp contrast to a y-o-y growth of % a year earlier.
  • In Castilla y Leon, the average land price plunged by 20% to just € per sq. m, in contrast to a y-o-y growth of % a year ago.
  • In Canary Islands, average land price plunged % to € per sq. m, in contrast to a y-o-y rise of % a year earlier.
  • In Valencian Community, average land price increased slightly by % to € per sq. m, following a y-o-y fall of % in Q3

The number of land transactions fell by % y-o-y during the first three quarters of , and their value fell by almost 43%, according to the Ministry of Development.

No more housing oversupply

Spain’s housing market is now close to being balanced after being massively oversupplied. The oversupply reached its peak in , when the surplus stock amounted to , homes, according to the Institute of Business Practices (el Instituto de Práctica Empresarial or IPE). With home sales of about , units per year from to and completions of just about 50, annually, it is believed that the housing glut has been finally corrected. In fact, some allege there is now a housing shortage.

Spain residential construction

However construction activity is slowing again, after reaching a seven-year high in During , the number and area of residential building permits fell by % and %, respectively. While no official figures for yet, it is estimated that the pandemic has caused construction activity to fall by double-digit figures.

Yields are moderately good

Gross rental yields on property in Spain are now moderately good, according to Global Property Guide’s research on Spanish yields. In some places in Spain, buying an apartment has increasingly become more attractive in recent years from a yields perspective – a completely new situation for Spain.  But it only applies to the smallest-sized apartments.

For apartments in Barcelona’s Ciutat Vella, gross rental yields – the return earned on the purchase price of a rental property, before taxation, vacancy costs, and other costs – ranged from % to % in

Similar yields, or maybe slightly lower, can also be had in Madrid. All these yields figures are higher than the previous year, when yields were higher than the previous year. Spain is once again beginning to look a possible investment destination.

Rental demand shifts to less-densely populated locations

In Q3 , the average rent across Spain fell by % from the previous quarter, according to Fotocasa, one of the leading property portals in Spain. Spain’s major cities such as Barcelona and Madrid saw the biggest quarterly decline as tourists vanished and as local interest shifted to less densely-populated areas due to the pandemic.

However year-on-year, nationwide rental prices remain 12% higher in Q3

“Many Spaniards are considering leaving the big cities and going to live in outlying areas where they can find bigger, brighter and more spacious homes,” said Fotocasa’s Anais Lopez.

This was supported by data released by another leading property site Idealista. “The lockdown and increase of remote working in Spain has led to a shift in housing demand, generating increasing interest in housing in villages with fewer than 5, inhabitants.”

From January to June , the share of potential homebuyers looking for properties in such locations rose from % to %, according to Idealista. Also, the number of flats listed for rent surged % in Madrid and 92% in Barcelona between January to September

Rent control law introduced

In March , a new government decree regulating rental dwellings in Spain went into effect, in an effort to limit rent increases and expand tenant protection and rights.

Among the major changes, the measure caps annual rent hikes at the rate of inflation within the contract period; extends the duration of the rental contract from 3 years to 5 years (or 7 years if the landlord is a business entity); and introduces a state benchmark index for rental prices that will be used to gauge the current state of the market. The new law has been applied to new lease agreements signed on March 6, onwards.

Spanish interest rates are amazingly low

Following post-crisis European Central Bank (ECB) key rate reductions, average mortgage rates in Spain dropped to % in December , and have held more or less steady since. In October , the average mortgage rate in Spain was %, slightly down from % a year earlier, according to the European Central Bank (ECB).

Spain interest rates

In October

  • The interest rate for housing loans with initial rate fixation (IRF) of up to 1 year stood at %, down from % in October
  • The interest rate for housing loans with IRF between 1 and 5 years was %, up from % in the previous year.
  • The interest rate for loans with IRF of over 5 years was %, almost unchanged from % a year earlier.

Spain’s housing market has traditionally been extremely vulnerable to interest rate changes, given that before more than 80% of new mortgages had initial rate fixations (IRF) of less than 1 year, a proportion which rose to 90% from to

Spain mortgage by interest rate

However, there has been a continuous decline in the share of adjustable rate mortgages in recent years. In October , fixed rate mortgages represented % of all new loans contracted, up from 45% share a year earlier, and from just about 3% a decade ago, according to INE.

Mortgage market remains weak

Despite ultra-low interest rates, the Spanish mortgage market continues to contract - to about % of GDP in , down from % in This year, the size of the mortgage market as a percent of GDP is estimated by the Global Property Guide to increase to about 46% - but not because of increase in the volume of mortgage loans but mainly due to a contraction in the country’s GDP due to the pandemic.  In fact in November , the total amount of mortgage loans outstanding fell by % y-o-y to about € billion, according to the ECB. 

Spain housing loans

New home mortgages fell % y-o-y to , during the first ten months of – far below the annual average of million new home mortgages granted from to

The average mortgage term is now 24 years, according to INE.

Foreclosures are falling

Foreclosures fell by % to 13, dwellings during the first three quarters of , following an annual increase of % in and y-o-y declines of % in , % in , % in and % in , according to the INE.

By dwelling type:

  • Existing dwellings: 10, units in Q1-Q3 , down by % a year earlier
  • New dwellings: 2, units, down % a year earlier

Of the autonomous regions and cities, Extremadura registered the biggest y-o-y fall in foreclosures of 69% in the first three quarters of , followed by Galicia (%), Castile-La Mancha (%), Melilla (%), Andalucia (%), Cataluña (%), Murcia (%), Canarias (%) and Asturias (%).

Spain foreclosures

Foreclosures also fell in Castilla y Leon (%), Valencian Community (%), Madrid (%), Aragón (%), Navarra (%), and Balears (%).

In contrast, foreclosures continue to rise in Ceuta (8 times more), La Rioja (2 times more), and Cantabria (%) while it was unchanged in País Vasco.

Cataluña, Andalucia, and Valencian Community accounted for about 61% of all foreclosures during Q1-Q3

Spanish economy struggling again, unemployment remains high

In January 23, , Spain became the second euro zone country to exit its international bailout program, after Ireland. The Spanish economy has consistently outperformed much of Europe since. The economy grew by more than 3% annually from to

However, it has been a long, hard slog. Recession had been Spain’s normal condition for years, due to the global financial meltdown and the Eurozone debt crisis.

Spain gdp inflation

In , economic growth slowed to 2%, as consumer demand waned and business investment weakened.

The COVID pandemic has dramatically hurt Spain’s already weakening economy. The Bank of Spain expects the economy to have contracted by % in , but to rebound with % growth this year. The European Commission and the IMF were more pessimistic, projecting contractions of % and %, respectively.

Spanish unemployment rose to % in Q3 , up from the previous year’s % but still lower than the annual average of about 22% from to , according to INE.

Inflation is expected at % in , from % in , according to the European Commission.

Spain unemployment

Spain narrowed its budget deficit to around % of GDP in , down from % in , 3% in , % in , % in , 6% in , 7% in and % in However, the deficit is estimated to have risen dramatically again in to about % of GDP due to the pandemic, according to the European Commission. Spain’s gross public debt surged to % of GDP in , up from % of GDP in

In November , Spain’s governing Socialists, led by Prime Minister Pedro Sánchez, won the country’s fourth election in four years, but they remain short of a majority. In January , Sánchez successfully formed a minority coalition government with the left-wing Podemos party. Sánchez had taken over as prime minister in June , after his conservative predecessor Mariano Rajoy lost a parliamentary vote of confidence amidst a long-running corruption trial involving members of his Popular Party.


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Spain - More data and information

Sours: https://www.globalpropertyguide.com/Europe/Spain/Price-History
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S&P/Case-Shiller U.S. National Home Price Index (CSUSHPINSA)

Source:S&P Dow Jones Indices LLC  

Release:S&P/Case-Shiller Home Price Indices  

Units:  Index Jan =, Not Seasonally Adjusted

Frequency:  Monthly

Notes:

For more information regarding the index, please visit Standard & Poor's. There is more information about home price sales pairs in the Methodology section. Copyright, , Standard & Poor's Financial Services LLC. Reprinted with permission.

Suggested Citation:

S&P Dow Jones Indices LLC, S&P/Case-Shiller U.S. National Home Price Index [CSUSHPINSA], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/CSUSHPINSA, October 12,

Sours: https://fred.stlouisfed.org/series/CSUSHPINSA

Home price graph median

Historical Home Prices: Monthly Median Value in the US from

Below, I provide and graph historical monthly median single-family home values in the United States. Importantly, this data is non-seasonally adjusted and based on sales of existing homes.

The data includes home prices from January until May (data lags behind by a few months). There is a historical home price series using nominal prices and one adjusted for inflation. In May , the median single-family home price in the United States was $,

Historical Median Home Value

I needed historical median home prices on the United States housing market – and (of course) this data doesn’t really exist.

The Census Bureau provides data on median new home sales, but nothing for existing home sales. This data uses the non-seasonally adjusted housing price index data from Robert Shiller and the FHFA to mash up these values.

United States Median Home Price History

Month of ObservationMedian Home Price (NSA)Inflation Adjusted Price
1/1/53$18,$,
2/1/53$18,$,
3/1/53$18,$,
4/1/53$18,$,
5/1/53$18,$,
6/1/53$18,$,
7/1/53$18,$,
8/1/53$18,$,
9/1/53$18,$,
10/1/53$18,$,
11/1/53$18,$,
12/1/53$18,$,
1/1/54$18,$,
2/1/54$18,$,
3/1/54$18,$,
4/1/54$18,$,
5/1/54$18,$,
6/1/54$18,$,
7/1/54$18,$,
8/1/54$18,$,
9/1/54$18,$,
10/1/54$18,$,
11/1/54$18,$,
12/1/54$18,$,
1/1/55$18,$,
2/1/55$18,$,
3/1/55$18,$,
4/1/55$18,$,
5/1/55$18,$,
6/1/55$18,$,
7/1/55$18,$,
8/1/55$18,$,
9/1/55$18,$,
10/1/55$18,$,
11/1/55$18,$,
12/1/55$18,$,
1/1/56$18,$,
2/1/56$18,$,
3/1/56$18,$,
4/1/56$18,$,
5/1/56$18,$,
6/1/56$18,$,
7/1/56$18,$,
8/1/56$18,$,
9/1/56$18,$,
10/1/56$18,$,
11/1/56$18,$,
12/1/56$18,$,
1/1/57$18,$,
2/1/57$18,$,
3/1/57$18,$,
4/1/57$18,$,
5/1/57$18,$,
6/1/57$18,$,
7/1/57$18,$,
8/1/57$18,$,
9/1/57$18,$,
10/1/57$19,$,
11/1/57$19,$,
12/1/57$19,$,
1/1/58$19,$,
2/1/58$19,$,
3/1/58$19,$,
4/1/58$19,$,
5/1/58$19,$,
6/1/58$19,$,
7/1/58$19,$,
8/1/58$19,$,
9/1/58$19,$,
10/1/58$19,$,
11/1/58$19,$,
12/1/58$19,$,
1/1/59$19,$,
2/1/59$19,$,
3/1/59$19,$,
4/1/59$19,$,
5/1/59$19,$,
6/1/59$19,$,
7/1/59$19,$,
8/1/59$19,$,
9/1/59$19,$,
10/1/59$19,$,
11/1/59$19,$,
12/1/59$19,$,
1/1/60$19,$,
2/1/60$19,$,
3/1/60$19,$,
4/1/60$19,$,
5/1/60$19,$,
6/1/60$19,$,
7/1/60$19,$,
8/1/60$19,$,
9/1/60$19,$,
10/1/60$19,$,
11/1/60$19,$,
12/1/60$19,$,
1/1/61$19,$,
2/1/61$19,$,
3/1/61$19,$,
4/1/61$19,$,
5/1/61$19,$,
6/1/61$19,$,
7/1/61$19,$,
8/1/61$19,$,
9/1/61$19,$,
10/1/61$19,$,
11/1/61$19,$,
12/1/61$19,$,
1/1/62$19,$,
2/1/62$19,$,
3/1/62$19,$,
4/1/62$19,$,
5/1/62$19,$,
6/1/62$19,$,
7/1/62$19,$,
8/1/62$19,$,
9/1/62$19,$,
10/1/62$19,$,
11/1/62$19,$,
12/1/62$19,$,
1/1/63$19,$,
2/1/63$19,$,
3/1/63$19,$,
4/1/63$19,$,
5/1/63$19,$,
6/1/63$19,$,
7/1/63$19,$,
8/1/63$19,$,
9/1/63$19,$,
10/1/63$19,$,
11/1/63$19,$,
12/1/63$20,$,
1/1/64$20,$,
2/1/64$20,$,
3/1/64$20,$,
4/1/64$20,$,
5/1/64$19,$,
6/1/64$19,$,
7/1/64$20,$,
8/1/64$20,$,
9/1/64$20,$,
10/1/64$20,$,
11/1/64$20,$,
12/1/64$20,$,
1/1/65$20,$,
2/1/65$20,$,
3/1/65$20,$,
4/1/65$20,$,
5/1/65$20,$,
6/1/65$20,$,
7/1/65$20,$,
8/1/65$20,$,
9/1/65$20,$,
10/1/65$20,$,
11/1/65$20,$,
12/1/65$20,$,
1/1/66$20,$,
2/1/66$20,$,
3/1/66$20,$,
4/1/66$20,$,
5/1/66$20,$,
6/1/66$20,$,
7/1/66$20,$,
8/1/66$20,$,
9/1/66$20,$,
10/1/66$20,$,
11/1/66$20,$,
12/1/66$20,$,
1/1/67$20,$,
2/1/67$20,$,
3/1/67$20,$,
4/1/67$20,$,
5/1/67$20,$,
6/1/67$20,$,
7/1/67$20,$,
8/1/67$21,$,
9/1/67$21,$,
10/1/67$21,$,
11/1/67$21,$,
12/1/67$21,$,
1/1/68$21,$,
2/1/68$21,$,
3/1/68$21,$,
4/1/68$21,$,
5/1/68$21,$,
6/1/68$21,$,
7/1/68$21,$,
8/1/68$21,$,
9/1/68$21,$,
10/1/68$21,$,
11/1/68$22,$,
12/1/68$22,$,
1/1/69$22,$,
2/1/69$22,$,
3/1/69$22,$,
4/1/69$22,$,
5/1/69$22,$,
6/1/69$22,$,
7/1/69$23,$,
8/1/69$23,$,
9/1/69$23,$,
10/1/69$23,$,
11/1/69$23,$,
12/1/69$23,$,
1/1/70$24,$,
2/1/70$24,$,
3/1/70$24,$,
4/1/70$24,$,
5/1/70$24,$,
6/1/70$24,$,
7/1/70$24,$,
8/1/70$25,$,
9/1/70$25,$,
10/1/70$25,$,
11/1/70$25,$,
12/1/70$25,$,
1/1/71$25,$,
2/1/71$25,$,
3/1/71$25,$,
4/1/71$25,$,
5/1/71$25,$,
6/1/71$26,$,
7/1/71$26,$,
8/1/71$26,$,
9/1/71$26,$,
10/1/71$26,$,
11/1/71$26,$,
12/1/71$26,$,
1/1/72$26,$,
2/1/72$26,$,
3/1/72$26,$,
4/1/72$26,$,
5/1/72$27,$,
6/1/72$27,$,
7/1/72$27,$,
8/1/72$27,$,
9/1/72$27,$,
10/1/72$27,$,
11/1/72$27,$,
12/1/72$27,$,
1/1/73$27,$,
2/1/73$27,$,
3/1/73$27,$,
4/1/73$27,$,
5/1/73$27,$,
6/1/73$27,$,
7/1/73$27,$,
8/1/73$27,$,
9/1/73$28,$,
10/1/73$28,$,
11/1/73$28,$,
12/1/73$28,$,
1/1/74$28,$,
2/1/74$29,$,
3/1/74$29,$,
4/1/74$29,$,
5/1/74$29,$,
6/1/74$29,$,
7/1/74$29,$,
8/1/74$30,$,
9/1/74$30,$,
10/1/74$30,$,
11/1/74$30,$,
12/1/74$31,$,
1/1/75$32,$,
2/1/75$32,$,
3/1/75$32,$,
4/1/75$32,$,
5/1/75$32,$,
6/1/75$32,$,
7/1/75$32,$,
8/1/75$32,$,
9/1/75$32,$,
10/1/75$33,$,
11/1/75$33,$,
12/1/75$33,$,
1/1/76$33,$,
2/1/76$33,$,
3/1/76$34,$,
4/1/76$34,$,
5/1/76$34,$,
6/1/76$34,$,
7/1/76$35,$,
8/1/76$35,$,
9/1/76$35,$,
10/1/76$35,$,
11/1/76$36,$,
12/1/76$36,$,
1/1/77$36,$,
2/1/77$37,$,
3/1/77$37,$,
4/1/77$38,$,
5/1/77$38,$,
6/1/77$39,$,
7/1/77$39,$,
8/1/77$39,$,
9/1/77$40,$,
10/1/77$40,$,
11/1/77$41,$,
12/1/77$41,$,
1/1/78$42,$,
2/1/78$42,$,
3/1/78$43,$,
4/1/78$43,$,
5/1/78$44,$,
6/1/78$44,$,
7/1/78$45,$,
8/1/78$46,$,
9/1/78$46,$,
10/1/78$47,$,
11/1/78$47,$,
12/1/78$48,$,
1/1/79$48,$,
2/1/79$49,$,
3/1/79$50,$,
4/1/79$50,$,
5/1/79$51,$,
6/1/79$52,$,
7/1/79$52,$,
8/1/79$53,$,
9/1/79$53,$,
10/1/79$54,$,
11/1/79$54,$,
12/1/79$54,$,
1/1/80$55,$,
2/1/80$55,$,
3/1/80$55,$,
4/1/80$56,$,
5/1/80$56,$,
6/1/80$57,$,
7/1/80$57,$,
8/1/80$57,$,
9/1/80$58,$,
10/1/80$58,$,
11/1/80$58,$,
12/1/80$58,$,
1/1/81$59,$,
2/1/81$59,$,
3/1/81$59,$,
4/1/81$60,$,
5/1/81$60,$,
6/1/81$60,$,
7/1/81$61,$,
8/1/81$61,$,
9/1/81$61,$,
10/1/81$61,$,
11/1/81$61,$,
12/1/81$61,$,
1/1/82$61,$,
2/1/82$61,$,
3/1/82$61,$,
4/1/82$62,$,
5/1/82$62,$,
6/1/82$62,$,
7/1/82$62,$,
8/1/82$62,$,
9/1/82$62,$,
10/1/82$62,$,
11/1/82$62,$,
12/1/82$62,$,
1/1/83$62,$,
2/1/83$62,$,
3/1/83$62,$,
4/1/83$63,$,
5/1/83$63,$,
6/1/83$63,$,
7/1/83$64,$,
8/1/83$64,$,
9/1/83$64,$,
10/1/83$64,$,
11/1/83$64,$,
12/1/83$65,$,
1/1/84$65,$,
2/1/84$65,$,
3/1/84$65,$,
4/1/84$66,$,
5/1/84$66,$,
6/1/84$67,$,
7/1/84$67,$,
8/1/84$67,$,
9/1/84$67,$,
10/1/84$68,$,
11/1/84$68,$,
12/1/84$68,$,
1/1/85$68,$,
2/1/85$68,$,
3/1/85$69,$,
4/1/85$69,$,
5/1/85$70,$,
6/1/85$70,$,
7/1/85$71,$,
8/1/85$71,$,
9/1/85$72,$,
10/1/85$72,$,
11/1/85$72,$,
12/1/85$73,$,
1/1/86$73,$,
2/1/86$74,$,
3/1/86$74,$,
4/1/86$75,$,
5/1/86$76,$,
6/1/86$76,$,
7/1/86$77,$,
8/1/86$78,$,
9/1/86$78,$,
10/1/86$79,$,
11/1/86$79,$,
12/1/86$80,$,
1/1/87$80,$,
2/1/87$81,$,
3/1/87$81,$,
4/1/87$82,$,
5/1/87$83,$,
6/1/87$83,$,
7/1/87$84,$,
8/1/87$85,$,
9/1/87$85,$,
10/1/87$86,$,
11/1/87$86,$,
12/1/87$86,$,
1/1/88$86,$,
2/1/88$87,$,
3/1/88$87,$,
4/1/88$88,$,
5/1/88$89,$,
6/1/88$90,$,
7/1/88$90,$,
8/1/88$91,$,
9/1/88$92,$,
10/1/88$92,$,
11/1/88$92,$,
12/1/88$92,$,
1/1/89$93,$,
2/1/89$93,$,
3/1/89$94,$,
4/1/89$94,$,
5/1/89$95,$,
6/1/89$95,$,
7/1/89$96,$,
8/1/89$96,$,
9/1/89$96,$,
10/1/89$96,$,
11/1/89$97,$,
12/1/89$96,$,
1/1/90$97,$,
2/1/90$97,$,
3/1/90$97,$,
4/1/90$97,$,
5/1/90$98,$,
6/1/90$98,$,
7/1/90$98,$,
8/1/90$98,$,
9/1/90$97,$,
10/1/90$97,$,
11/1/90$96,$,
12/1/90$96,$,
1/1/91$96,$,
2/1/91$96,$,
3/1/91$96,$,
4/1/91$96,$,
5/1/91$96,$,
6/1/91$97,$,
7/1/91$97,$,
8/1/91$97,$,
9/1/91$97,$,
10/1/91$97,$,
11/1/91$98,$,
12/1/91$98,$,
1/1/92$98,$,
2/1/92$98,$,
3/1/92$98,$,
4/1/92$98,$,
5/1/92$99,$,
6/1/92$99,$,
7/1/92$99,$,
8/1/92$,$,
9/1/92$,$,
10/1/92$,$,
11/1/92$,$,
12/1/92$,$,
1/1/93$,$,
2/1/93$99,$,
3/1/93$,$,
4/1/93$,$,
5/1/93$,$,
6/1/93$,$,
7/1/93$,$,
8/1/93$,$,
9/1/93$,$,
10/1/93$,$,
11/1/93$,$,
12/1/93$,$,
1/1/94$,$,
2/1/94$,$,
3/1/94$,$,
4/1/94$,$,
5/1/94$,$,
6/1/94$,$,
7/1/94$,$,
8/1/94$,$,
9/1/94$,$,
10/1/94$,$,
11/1/94$,$,
12/1/94$,$,
1/1/95$,$,
2/1/95$,$,
3/1/95$,$,
4/1/95$,$,
5/1/95$,$,
6/1/95$,$,
7/1/95$,$,
8/1/95$,$,
9/1/95$,$,
10/1/95$,$,
11/1/95$,$,
12/1/95$,$,
1/1/96$,$,
2/1/96$,$,
3/1/96$,$,
4/1/96$,$,
5/1/96$,$,
6/1/96$,$,
7/1/96$,$,
8/1/96$,$,
9/1/96$,$,
10/1/96$,$,
11/1/96$,$,
12/1/96$,$,
1/1/97$,$,
2/1/97$,$,
3/1/97$,$,
4/1/97$,$,
5/1/97$,$,
6/1/97$,$,
7/1/97$,$,
8/1/97$,$,
9/1/97$,$,
10/1/97$,$,
11/1/97$,$,
12/1/97$,$,
1/1/98$,$,
2/1/98$,$,
3/1/98$,$,
4/1/98$,$,
5/1/98$,$,
6/1/98$,$,
7/1/98$,$,
8/1/98$,$,
9/1/98$,$,
10/1/98$,$,
11/1/98$,$,
12/1/98$,$,
1/1/99$,$,
2/1/99$,$,
3/1/99$,$,
4/1/99$,$,
5/1/99$,$,
6/1/99$,$,
7/1/99$,$,
8/1/99$,$,
9/1/99$,$,
10/1/99$,$,
11/1/99$,$,
12/1/99$,$,
1/1/00$,$,
2/1/00$,$,
3/1/00$,$,
4/1/00$,$,
5/1/00$,$,
6/1/00$,$,
7/1/00$,$,
8/1/00$,$,
9/1/00$,$,
10/1/00$,$,
11/1/00$,$,
12/1/00$,$,
1/1/01$,$,
2/1/01$,$,
3/1/01$,$,
4/1/01$,$,
5/1/01$,$,
6/1/01$,$,
7/1/01$,$,
8/1/01$,$,
9/1/01$,$,
10/1/01$,$,
11/1/01$,$,
12/1/01$,$,
1/1/02$,$,
2/1/02$,$,
3/1/02$,$,
4/1/02$,$,
5/1/02$,$,
6/1/02$,$,
7/1/02$,$,
8/1/02$,$,
9/1/02$,$,
10/1/02$,$,
11/1/02$,$,
12/1/02$,$,
1/1/03$,$,
2/1/03$,$,
3/1/03$,$,
4/1/03$,$,
5/1/03$,$,
6/1/03$,$,
7/1/03$,$,
8/1/03$,$,
9/1/03$,$,
10/1/03$,$,
11/1/03$,$,
12/1/03$,$,
1/1/04$,$,
2/1/04$,$,
3/1/04$,$,
4/1/04$,$,
5/1/04$,$,
6/1/04$,$,
7/1/04$,$,
8/1/04$,$,
9/1/04$,$,
10/1/04$,$,
11/1/04$,$,
12/1/04$,$,
1/1/05$,$,
2/1/05$,$,
3/1/05$,$,
4/1/05$,$,
5/1/05$,$,
6/1/05$,$,
7/1/05$,$,
8/1/05$,$,
9/1/05$,$,
10/1/05$,$,
11/1/05$,$,
12/1/05$,$,
1/1/06$,$,
2/1/06$,$,
3/1/06$,$,
4/1/06$,$,
5/1/06$,$,
6/1/06$,$,
7/1/06$,$,
8/1/06$,$,
9/1/06$,$,
10/1/06$,$,
11/1/06$,$,
12/1/06$,$,
1/1/07$,$,
2/1/07$,$,
3/1/07$,$,
4/1/07$,$,
5/1/07$,$,
6/1/07$,$,
7/1/07$,$,
8/1/07$,$,
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11/1/07$,$,
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1/1/08$,$,
2/1/08$,$,
3/1/08$,$,
4/1/08$,$,
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6/1/08$,$,
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8/1/08$,$,
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10/1/08$,$,
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12/1/08$,$,
1/1/09$,$,
2/1/09$,$,
3/1/09$,$,
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5/1/09$,$,
6/1/09$,$,
7/1/09$,$,
8/1/09$,$,
9/1/09$,$,
10/1/09$,$,
11/1/09$,$,
12/1/09$,$,
1/1/10$,$,
2/1/10$,$,
3/1/10$,$,
4/1/10$,$,
5/1/10$,$,
6/1/10$,$,
7/1/10$,$,
8/1/10$,$,
9/1/10$,$,
10/1/10$,$,
11/1/10$,$,
12/1/10$,$,
1/1/11$,$,
2/1/11$,$,
3/1/11$,$,
4/1/11$,$,
5/1/11$,$,
6/1/11$,$,
7/1/11$,$,
8/1/11$,$,
9/1/11$,$,
10/1/11$,$,
11/1/11$,$,
12/1/11$,$,
1/1/12$,$,
2/1/12$,$,
3/1/12$,$,
4/1/12$,$,
5/1/12$,$,
6/1/12$,$,
7/1/12$,$,
8/1/12$,$,
9/1/12$,$,
10/1/12$,$,
11/1/12$,$,
12/1/12$,$,
1/1/13$,$,
2/1/13$,$,
3/1/13$,$,
4/1/13$,$,
5/1/13$,$,
6/1/13$,$,
7/1/13$,$,
8/1/13$,$,
9/1/13$,$,
10/1/13$,$,
11/1/13$,$,
12/1/13$,$,
1/1/14$,$,
2/1/14$,$,
3/1/14$,$,
4/1/14$,$,
5/1/14$,$,
6/1/14$,$,
7/1/14$,$,
8/1/14$,$,
9/1/14$,$,
10/1/14$,$,
11/1/14$,$,
12/1/14$,$,
1/1/15$,$,
2/1/15$,$,
3/1/15$,$,
4/1/15$,$,
5/1/15$,$,
6/1/15$,$,
7/1/15$,$,
8/1/15$,$,
9/1/15$,$,
10/1/15$,$,
11/1/15$,$,
12/1/15$,$,
1/1/16$,$,
2/1/16$,$,
3/1/16$,$,
4/1/16$,$,
5/1/16$,$,
6/1/16$,$,
7/1/16$,$,
8/1/16$,$,
9/1/16$,$,
10/1/16$,$,
11/1/16$,$,
12/1/16$,$,
1/1/17$,$,
2/1/17$,$,
3/1/17$,$,
4/1/17$,$,
5/1/17$,$,
6/1/17$,$,
7/1/17$,$,
8/1/17$,$,
9/1/17$,$,
10/1/17$,$,
11/1/17$,$,
12/1/17$,$,
1/1/18$,$,
2/1/18$,$,
3/1/18$,$,
4/1/18$,$,
5/1/18$,$,
6/1/18$,$,
7/1/18$,$,
8/1/18$,$,
9/1/18$,$,
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Methodology on US Historical Home Prices

For this historical data, I mashed up a few sets (and used a couple proxies) to show you these median home prices.

The NAR has a restrictive sharing license for non-REALTOR®s (like yours truly). We can use the data only if we also substantially transform it: we do that by sampling over a year.

First, take the overlap of the NAR’s data and the FHFA index to come up with an average “multiple.” For the first revision of this post, that was a month overlap and a average multiple.

Second, use the average ratio in the overlap of the FHFA index and Shiller’s NSA home data. That averaged to over samples.

Finally, for data back to , multiply the FHFA index by Between and , multiply by (*).

If you want to adjust for inflation, I used NSA CPI-U. It’s a bit dubious (CPI-U includes shelter), but should do a decent job of showing price level. Use the raw data and your favorite deflator if you’re hardcore.

How do I cite this data?

Credit Don’t Quit Your Day Job… and link back to this page. Note the underlying sources, too (The National Association of Realtors, The Federal Housing Finance Agency, Robert Shiller, and the U.S. Bureau of Labor Statistics).

Can you get US median home price data before ?

Yes, but maybe not monthly median home values.

Shiller’s monthly data started in ; before then, we have a yearly home value resolution. If you clamor enough, I’ll extend the series further back with linear interpolation.

Why are you deriving historical median home values and not average?

Home prices have an extensive span, and there are some wildly expensive properties in the United States. They sell enough that median is a better representation of home sales than average.

Why look at single-family home prices?

Some of it is personal interest, and my sense of what the “American Dream” might be (or was as the case may be).

I don’t know the condo, co-op, townhome, or multi-family market well enough to try to create proxies. Single-family homes are mostly comparable countrywide, so this feels like a good series.

Is this data reasonable?

Yes, arguably. In a sense, looking at home-price data for a country as large as the United States is weird on its face

Small local markets are mostly blended away. Still, if California, Texas, or New York change housing policies, it can move the whole country’s median home price.

So, it’s about as reasonable as looking at any US-aggregated data. I trust the underlying indices to get us in the ballpark of the actual market, too.

Consider: we look at recessions on a country-level, but also recognize that some regions or industries might be in contraction while others are expanding.

In short: apply the same skepticism to this aggregated data as you do other aggregates.

Sours: https://dqydj.com/historical-home-prices/
House Price Prediction using Linear Regression Machine Learning

Median Sales Price of Houses Sold for the United States (MSPUS)

Source:U.S. Census Bureau  

Source:U.S. Department of Housing and Urban Development  

Release:New Residential Sales  

Units:  Dollars, Not Seasonally Adjusted

Frequency:  Quarterly

Suggested Citation:

U.S. Census Bureau and U.S. Department of Housing and Urban Development, Median Sales Price of Houses Sold for the United States [MSPUS], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/MSPUS, October 13,

Sours: https://fred.stlouisfed.org/series/MSPUS

You will also like:

National Association of REALTORS®

Median Home Values

The map above allows you to see the median home price for each county. Applying the House Price Index growth from FHFA to the latest housing data from the American Community Survey (ACS), we calculated a median home value for 3, counties and county-equivalents in the United States. Home values represent the value of all homes instead of home sales.

Here is the list of the counties with the highest median home values in the 2nd quarter of

  • New York County, NY: $1,,
  • Nantucket County, MA: $1,,
  • San Mateo County, CA: $1,,
  • Santa Clara County, CA: $1,,
  • San Francisco County, CA: $1,,

In the meantime, home prices continue to rise due to the record low housing inventory. In fact, rising home prices threaten housing affordability and significant concerns have been raised about its effects on affordability especially at local level. Although mortgage rates are lower than a year earlier, the mortgage payment is higher in 98% of the counties across the country due to the fast price appreciation. This causes many would-be homebuyers to be priced out of the market.

The tool below shows you the monthly mortgage payment for a year fixed rate mortgage as of now compared to a year earlier. Select a state and county to see how much the payment drops due to the low mortgage rates.

Data

Citation guidelines for NAR research and statistics

Sours: https://www.nar.realtor/research-and-statistics/housing-statistics/county-median-home-prices-and-monthly-mortgage-payment


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