--- title: The Average U.S. Home Is Now Worth Over $350,000 — an All-Time High description: The average U.S. home is now worth an all-time high over $350,000, according to Zillow's Home Value Index. authors: - name: Brenden Rearick role: Reporter url: https://money.com/author/brenden-rearick/ bio: Brenden Rearick is a former news reporter at Money who specialized in mortgages, real estate, and personal finance topics. education: University of Pittsburgh, BA at_money_since: 2023 articles: 133 covers: - Housing - Banking - Career Advice - Credit - Credit Cards - Economy and Politics - Education - Insurance - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Professional Services - Retirement - Shopping - Taxes - Technology former_staff: true editors: - name: Brad Tuttle role: Senior Editor url: https://money.com/author/brad-tuttle/ bio: Brad Tuttle is a former senior editor at Money with over 10 years’ experience covering a vast number of personal finance topics, including careers, cars, travel, budgeting, investing, insurance, credit cards, consumer psychology, real estate, banking, and shopping and deals. education: Columbia University School of Journalism, MS at_money_since: 2014 articles: 366 covers: - Housing - Banking - Business - Career Advice - Credit - Credit Cards - Economy and Politics - Education - Health and Wellness - Identity Theft - Insurance - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Pets - Professional Services - Retirement - Shopping - Taxes - Technology social: - https://twitter.com/bradrtuttle - https://linkedin.com/in/brad-tuttle-834b225 former_staff: true published: '2023-07-13T13:00:47.000Z' modified: '2024-02-18T12:41:19.000Z' section: Housing tags: - News word_count: 487 canonical: https://money.com/average-home-worth-all-time-high/ type: NewsArticle source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![Illustration of the housing market hitting record highs](https://img.money.com/2023/07/News-Home-values-hit-record-high.jpg?crop=0px%2C70px%2C2880px%2C1620px&quality=85) Average home values in America just surpassed $350,000 for the first time ever, according to new estimates from Zillow. That might seem like good news for sellers who are hoping to score a higher price on their home. However, sellers don't necessarily have the upper hand in today's wild [housing market](https://money.com/trends-shaping-spring-housing-market/). Real estate company Zillow's recent [report](https://www.zillow.com/research/june-2023-market-report-32848/) marks a U.S. housing market milestone: As of June, the average American home is now estimated to be worth $350,213, the highest ever. The high comes after a 1.41% rise in the average home value from May to June, measured with Zillow's Home Value Index. It beats out the previous all-time high of $348,225 set in July of 2022. (Side note: There are some indications that [home values could soon decline](https://money.com/property-values-might-fall-soon/) once again, but perhaps that's to be expected after surging to a new peak.) All 50 of the largest real estate markets saw home value growth on a monthly basis. Plenty of markets saw higher-than-average increases, though, including Detroit, [New Orleans](https://money.com/best-places-to-travel/new-orleans-louisiana/), Buffalo, [Chicago](https://money.com/best-places-to-travel/chicago-illinois/) and Hartford, Connecticut, all of which saw month-over-month increases of 2% or more. Zillow also reported that inventory remains depressed across the U.S. June 2023 saw 28% fewer listings than June of 2022. The company chalked the low inventory up to the [mortgage rate trap](https://money.com/low-mortgage-rates-trap-home-sellers/) sellers find themselves in — not wanting to sell for fear of taking on a new [mortgage rate](https://money.com/current-mortgage-rates/) almost twice as high as their current one. Earlier this month, mortgage rates reached their [highest this year](https://money.com/current-mortgage-rates/) so far, with a 30-year fixed rate mortgage clocking in at an average 6.81%. Additionally, Zillow suggested that the low inventory could be a result of sellers waiting for their properties to reach their full price potential before selling. That time could be coming soon; the average price of a U.S. house is reportedly now at a [new record high](https://money.com/home-prices-peak-most-big-cities/), and a majority of the largest markets are at their personal price highs, too. ## Keep in mind Zillow's Home Value Index, like other real estate company estimates, is a rough approximation of value — and not necessarily how much a home would actually sell for on the market. While they are helpful resources, estimated [home values can be inaccurate](https://money.com/zillow-zestimate-accuracy-flipping/) and should be taken with a grain of salt by both buyers and sellers. Also, while the average U.S. home value is at a record high, it doesn't mean sellers in all markets are at record high values. In fact, Zillow reported that over half of the 50 largest markets in the country are still valued *below* their levels from June of 2022. So, while $350,213 stat is eye-popping, it doesn't give an accurate picture of *all* U.S. real estate markets. [9 Best Home Equity Loans of 2023](https://money.com/best-home-equity-loans/) [A Record-High Share of Homebuyers Are Looking to Relocate Right Now](https://money.com/homebuyers-relocate-sun-belt-cities/) [3 Sneaky Homebuying Fees You Can Negotiate Away](https://money.com/negotiate-homebuying-fees/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/average-home-worth-all-time-high/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://money.com" }, { "@type": "ListItem", "position": 2, "name": "Housing", "item": "https://money.com/housing/" }, { "@type": "ListItem", "position": 3, "name": "Home Prices", "item": "https://money.com/home-prices/" }, { "@type": "ListItem", "position": 4, "name": "The Average U.S. Home Is Now Worth Over $350,000 — an All-Time High" } ] }, { "@type": "WebSite", "@id": "https://money.com/#website", "url": "https://money.com", "name": "Money", "publisher": { "@id": "https://money.com/#organization" } }, { "@type": "WebPage", "@id": "https://money.com/average-home-worth-all-time-high/#webpage", "url": "https://money.com/average-home-worth-all-time-high/", "name": "The Average U.S. Home Is Now Worth Over $350,000 — an All-Time High", "isPartOf": { "@id": "https://money.com/#website" }, "datePublished": "2023-07-13T13:00:47.000Z", "mainEntity": { "@id": "https://money.com/average-home-worth-all-time-high/" }, "inLanguage": "en-US", "breadcrumb": { "@id": "https://money.com/average-home-worth-all-time-high/#breadcrumb" }, "dateModified": "2024-02-18T12:41:19.000Z" }, { "@type": "NewsArticle", "headline": "The Average U.S. Home Is Now Worth Over $350,000 — an All-Time High", "articleSection": "Housing", "image": [ { "@type": "ImageObject", "url": "https://img.money.com/2023/07/News-Home-values-hit-record-high.jpg?crop=0px%2C70px%2C2880px%2C1620px&quality=85", "width": 1012, "height": 569, "caption": "News-Home-values-hit-record-high" } ], "author": [ { "@type": "Person", "name": "Brenden Rearick", "url": "https://money.com/author/brenden-rearick/", "@id": "https://money.com/author/brenden-rearick/#author", "description": "Brenden Rearick is a former news reporter at Money who specialized in mortgages, real estate, and personal finance topics.\r\n\r\n", "email": "brenden.rearick@money.com", "alumniOf": "University of Pittsburgh, BA" } ], "publisher": "https://money.com/#organization", "datePublished": "2023-07-13T13:00:47.000Z", "description": "The average U.S. home is now worth an all-time high over $350,000, according to Zillow's Home Value Index.", "abstract": "The average U.S. home is now worth an all-time high over $350,000, according to Zillow's Home Value Index.", "@id": "https://money.com/average-home-worth-all-time-high/", "inLanguage": "en-US", "dateModified": "2024-02-18T12:41:19.000Z", "editor": [ { "@type": "Person", "name": "Brad Tuttle", "url": "https://money.com/author/brad-tuttle/", "@id": "https://money.com/author/brad-tuttle/#author", "description": "Brad Tuttle is a former senior editor at Money with over 10 years’ experience covering a vast number of personal finance topics, including careers, cars, travel, budgeting, investing, insurance, credit cards, consumer psychology, real estate, banking, and shopping and deals.\r\n\r\n", "image": "https://img.money.com/2014/01/Brad-Tuttle.png?w=226&h=247&crop=1", "alumniOf": "Columbia University School of Journalism, MS", "sameAs": [ "https://twitter.com/bradrtuttle", "https://linkedin.com/in/brad-tuttle-834b225" ] } ], "wordCount": 487, "keywords": [ "News" ], "about": [ { "@type": "Thing", "name": "Housing in the United States", "sameAs": [ "https://en.wikipedia.org/wiki/Housing_in_the_United_States" ] }, { "@type": "Thing", "name": "Real estate economics", "sameAs": [ "https://en.wikipedia.org/wiki/Real_estate_economics" ] }, { "@type": "Thing", "name": "Real estate", "sameAs": [ "https://en.wikipedia.org/wiki/Real_estate" ] } ] } ] } ```