The maps illustrate the housing prices for 2018 side-by-side with the projected housing prices for 2023. Median home selling prices are currently over $400,000 in four markets: District of Columbia, Hawaii, California and Massachusetts. By July 2023, Colorado, Washington, Oregon & New Jersey are expected to join this group as well.
The current national median selling price is $239,542. By June 2023, it is forecasted to reach $307,618 — an annual growth rate of 5.1%.
Twenty states currently have home prices lower than $200,000. That number is forecast to drop to 10 states by 2023. California is expected to have the highest home appreciation rate — 8.5% — and will see its average price rise from $485,000 to $730,413 by June 2023.1
1Source data: CoreLogic®
Data date: 08/25/2018
Data for 06/2018 vs 06/2023 (forecast)
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