--- title: The Median Home Sale Closed at a Record-High $386,000 Last Year description: The median price for homes sold in the U.S. hit a record high of $386,000 in 2022, up over 10% in one year, according to a new NAR report. authors: - name: Mary Ellen Cagnassola role: Reporter url: https://money.com/author/mary-ellen-cagnassola/ bio: Mary Ellen (M.E.) Cagnassola is a former Money reporter who specialized in U.S. rent and real estate, with a focus on market trends and affordability. education: Rutgers University, BA Journalism at_money_since: 2021 articles: 205 covers: - Housing - Banking - Business - Career Advice - Credit - Credit Cards - Economy and Politics - Education - Identity Theft - Insurance - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Pets - Professional Services - Retirement - Shopping - Taxes 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: '2023-01-24T15:53:00.000Z' modified: '2024-01-10T17:48:18.000Z' section: Housing tags: - News word_count: 308 canonical: https://money.com/median-home-sale-price-2022-nar/ 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/). ![House sitting on dollar bills mountain](https://img.money.com/2023/01/Mortgage-Home-Price-Reccord-High-2.jpg) Rising [mortgage rates](https://money.com/current-mortgage-rates/) may have tempered the housing market in the last half of 2022, but home prices hit record highs for the year as a whole. The median home sale price in the United States reached an all-time high of $386,300 last year, according to data released Friday by the trade association National Association of Realtors (NAR). That's an increase of more than 10% from [2021's median](https://www.nar.realtor/blogs/economists-outlook/existing-home-sales-reach-highest-annual-level-since-2006-but-weaken-in-december-2021#:~:text=The%202021%20annual%20existing%2Dhome,compared%20to%20the%20prior%20year.) of $346,900. ## What the research says The NAR report shows that home prices are up at the same time that the number of houses sold has declined sharply. - Since 2019, the year leading up to the pandemic’s home-buying frenzy, to the end of 2022, median home sale prices have increased a whopping 42%. - The number of houses sold in the U.S. in 2022 dropped to about 5 million, the fewest recorded since 2014 and a 17.8% decline from 2021. The last time annual sales dropped by that much was during the 2008 housing crisis. - Sellers still closed 2022 out strong despite receding home sales. The median home sale price increased 2.3% from November to $366,900 for the month of December — even though the number of houses sold declined 34% compared to December of 2021. ## What it means for buyers - NAR Chief Economist Lawrence Yun said NAR expects sales to pick up again soon now that mortgage rates are coming down. He added that 2022 was a “transition” year, and the playing field will likely even out a little going forward. - A recent report from real estate marketplace Zillow found that the majority of [homes sold below list price](https://money.com/homes-selling-below-list-price/) in November, potentially signaling a power shift favoring buyers in the new year. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/median-home-sale-price-2022-nar/#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 Median Home Sale Closed at a Record-High $386,000 Last Year" } ] }, { "@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/median-home-sale-price-2022-nar/#webpage", "url": "https://money.com/median-home-sale-price-2022-nar/", "name": "The Median Home Sale Closed at a Record-High $386,000 Last Year", "isPartOf": { "@id": "https://money.com/#website" }, "datePublished": "2023-01-24T15:53:00.000Z", "mainEntity": { "@id": "https://money.com/median-home-sale-price-2022-nar/" }, "inLanguage": "en-US", "breadcrumb": { "@id": "https://money.com/median-home-sale-price-2022-nar/#breadcrumb" }, "dateModified": "2024-01-10T17:48:18.000Z" }, { "@type": "NewsArticle", "headline": "The Median Home Sale Closed at a Record-High $386,000 Last Year", "articleSection": "Housing", "image": [ { "@type": "ImageObject", "url": "https://img.money.com/2023/01/Mortgage-Home-Price-Reccord-High-2.jpg", "width": 2880, "height": 1920, "caption": "Mortgage-Home-Price-Record-High" } ], "author": [ { "@type": "Person", "name": "Mary Ellen Cagnassola", "url": "https://money.com/author/mary-ellen-cagnassola/", "@id": "https://money.com/author/mary-ellen-cagnassola/#author", "description": "Mary Ellen (M.E.) 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