Over the past 20 years the prices of homes have increased by 30%, resulting in the average price of a house being $500,000. What was the average price of a house 20 years ago?

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Chongman · Answer 1 · 2022-05-07T12:30:54+0000

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In the best 30 years for the housing market (1976-2005), real price appreciation averaged 2.2% per year. In the worst 30 years for housing (1895-1924), real price appreciation averaged -2.0% per year.

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Over the past 20 years the prices of homes have increased by 30%, resulting in the average price of a house being $500,000. What was the average price of a house 20 years ago?

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