- US home prices have soared 47% so far this decade.
- The price surge has outpaced the gains seen in the 1990s and 2010s, and is nearly ahead of the 2000s.
- The rising value of homes has coincided with a millennial-fueled demand surge and years of low mortgage rates.
US home prices have soared 47.1% so far this decade, according to a ResiClub analysis of the Case-Shiller National Home Price Index.
The massive price gains seen in the first four years of the 2020s have eclipsed all of the growth seen in the 1990s and 2010s, according to the analysis. Housing prices in those two decades grew 30.1% and 44.7%, respectively.
On top of that, housing price growth in the 2020s is on the verge of eclipsing all of the growth seen in the 2000s, which was 47.3% after peaking at just over 80% before the 2007 housing market crash.
Bought in '21, so far my home value is unchanged. But I have $40,000 in equity going for me so that’s nice.
As someone who has seen property values shoot up in my area even more than the average, it is such a relief to get out of the rental trap and start building equity. I know it’s more complicated than this, but knowing each mortgage payment gives me a little more claim over my property and more buying power if I ever need to sell it is such a good feeling.
I hope that we can get conditions to change so that more people can access home ownership if they want it.