Average price of existing homes in the United States from 1990 to 2011 (in thousand U.S. dollars)
| Characteristic | Average price in thousand U.S. dollars |
|---|---|
| 2011 | 214 |
| 2010 | 220 |
| 2009 | 216.9 |
| 2008 | 242.7 |
How was the housing market in 2011?
The housing market continued to weaken in 2011, albeit by and large the rate of weakening has declined. S&P/Case-Shiller’s national index of housing prices showed an annual decline of 3.9 percent in the third quarter of 2011, which is an improvement over the 5.8 percent annual decline posted in the previous quarter.
Why is there a sluggish housing market in 2011?
This downward trend in prices stemmed from excess inventories of homes, which arose from a combination of previous over-building and lack of demand during a weak economy. These inventories have slowly declined in 2011, as housing construction throughout the year has remained historically low.
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What was the number of existing homes sold in 2018?
In 2018, around 5.34 million of existing homes were sold in the U.S. Existing home sales in the United States. The steady rise in sales after the sharp drop in 2008 is indicative of the general consensus that the housing market is recovering.
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