Week of May 27, 2019

Housing price comparison

2018 median selling prices

2018 median selling prices

2023 projected median selling prices

2023 projected median selling prices
State Name Median selling price in 2018 Forecasted Median selling price in 2023
Alabama $125,286 $159,993
Alaska $280,961 $371,749
Arizona $236,088 $302,031
Arkansas $133,474 $163,421
California $470,917 $700,492
Colorado $351,255 $439,918
Connecticut $236,892 $317,964
Delaware $232,768 $291,539
District of Columbia $521,555 $640,967
Florida $211,917 $282,017
Georgia $179,608 $225,735
Hawaii $536,725 $724,833
Idaho $238,690 $318,883
Illinois $182,917 $234,506
Indiana $157,840 $200,708
Iowa $132,367 $167,725
Kansas $196,299 $244,123
Kentucky $135,271 $168,152
Louisiana $161,894 $186,252
Maine $220,939 $303,205
Maryland $269,095 $332,161
Massachusetts $381,367 $496,792
Michigan $136,143 $180,361
Minnesota $208,188 $253,578
Mississippi $190,147 $237,818
Missouri $161,162 $203,750
Montana $254,882 $327,658
Nebraska $158,421 $196,796
Nevada $275,346 $402,087
New Hampshire $230,036 $312,664
New Jersey $277,035 $365,324
New Mexico $200,852 $258,754
New York $251,542 $337,696
North Carolina $186,213 $234,409
North Dakota $199,223 $232,650
Ohio $125,375 $158,443
Oklahoma $121,613 $144,019
Oregon $308,212 $412,155
Pennsylvania $157,797 $199,982
Rhode Island $245,042 $308,539
South Carolina $176,125 $224,628
South Dakota $146,518 $175,630
Tennessee $159,783 $195,831
Texas $227,760 $254,382
Utah $304,500 $396,572
Vermont $183,032 $238,891
Virginia $259,178 $323,575
Washington $334,582 $433,361
West Virginia $122,692 $155,213
Wisconsin $153,519 $191,069
Wyoming $225,716 $295,262

Median home prices in California and Hawaii are projected to climb above $700,000 in the next five years.1 That is well above the forecasted national average of $279,000 for a house by 2023. The most expensive region will be the West, where the average house will be around $390,000. New Mexico and Wyoming will be the only Western states with prices below $300,000.

Affordability issues have already affected homeownership, which declined by more than a half percent in the first quarter of 2019. However, 12 states will still have average prices below $200,000 by 2023. The most affordable states will be spread across the Midwest, Plains and the South. Oklahoma will be the cheapest with a median price of $144,018.

1Source data: CoreLogic®

Data date: 4/26/2019

 

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