Home prices in the U.S. have surged dramatically over the past few years, with the Case-Shiller U.S. National Home Price Index indicating a 50% increase. This growth is primarily linked to market forces during the COVID-19 pandemic, where median list prices soared from $319,000 in March 2020 to over $431,000 by April 2025. While nationally prices are stabilizing, there are significant local variations, with some metro areas experiencing price surges of over 20% year-over-year, particularly in the Midwest region.
According to the Case-Shiller U.S. National Home Price Index, a typical single-family home is now about 50% more expensive than it was five years ago.
Data from Realtor.com shows that, at the beginning of the pandemic in March 2020, a typical home in the U.S. was listed for just $319,000.
As of April 2025, the typical home in the U.S. was listed for $431,250, which is considerably less than the all-time-high of $449,000.
24/7 Wall St. identified the cities where home prices are surging, with increases ranging from 20.4% to nearly 50% over the last year.
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