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The number of new houses sold in the United States took a big hit during the financial crisis, dropping from a high of around *** million houses sold in 2005 to a low of ** homes sold in 2011 – around a ** percent decrease. While the economy has largely recovered since the crisis, consumers have remained hesitant when it comes to buying homes. In 2020, demand for housing surged, and house sales volumes spiked to **.Ìý

Housing construction remains suppressed

One of the main challenges in the U.S. housing market has been the insufficient number of new homes built. During the financial crisis, construction slowed dramatically, and has still struggled to recover. Construction costs, on the other hand, have risen notably, making homeownership increasingly pricier.Ìý

House prices on the rise

Unsurprisingly, the median sales price of new homes has risen substantially. In 2026, the U.S. Case Shiller National Home Price Index, reached * index points, suggesting the price of a home tripled since 2000, the base year of the index.