Here's Why a New House Costs a Lot More in 2022

Here's Why a New House Costs a Lot More in 2022
·3 min read

The national average cost of a new house plateaued at around $389,400 between 2017 and 2019, and ticked up just a bit in 2020, according to Statista. Housing prices, both new construction and existing units have been on a tear since the pandemic. The price of a pre-existing home is set to have its slowest growth in almost a decade this year, staying put at around 2.9%, according to "Fortune." This is all relative, of course, as the increase in prices might be slowing down, but home prices are still rather high overall, as the median home price has risen roughly 30% over the past decade, according to CNBC.

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