According to statistics compiled by the United States Census Bureau, between the years 1998 and 2006, the average cost of a new home increased from $181,900 to $305,900! During those eight years, the average new home price increased more than it had during the previous 20 years! There is no question that this had a lot do with the economic meltdown that began at the end of 2007.
Fortunately, the United States housing industry has improved considerably since the recession, as the average cost of a new home is now around $280,000. Although this is still far from cheap, it at least shows that housing prices are a bit more realistic. As a result, the number of house sales in the United States have been gradually increasing since 2011, despite the fact that average new home prices are still relati