Median House Prices in USA

There has been much talk about House prices in the USA over the last couple of years, especially how these prices have crashed.

To do a comparison with my own country, I began to check these figures, and came up with this chart of median pricing of New Houses in the United States, from a US Government source:

Year ended Median Change
Jun 1963 $18,000
Jun 1964 $18,800 4.44%
Jun 1965 $19,800 5.32%
Jun 1966 $21,200 7.07%
Jun 1967 $23,900 12.74%
Jun 1968 $25,400 6.28%
Jun 1969 $25,200 -0.79%
Jun 1970 $23,800 -5.56%
Jun 1971 $26,100 9.66%
Jun 1972 $26,800 2.68%
Jun 1973 $33,100 23.51%
Jun 1974 $35,100 6.04%
Jun 1975 $37,900 7.98%
Jun 1976 $46,100 21.64%
Jun 1977 $48,700 5.64%
Jun 1978 $56,700 16.43%
Jun 1979 $64,200 13.23%
Jun 1980 $64,900 1.09%
Jun 1981 $68,800 6.01%
Jun 1982 $69,300 0.73%
Jun 1983 $75,800 9.38%
Jun 1984 $80,500 6.20%
Jun 1985 $86,300 7.20%
Jun 1986 $91,200 5.68%
Jun 1987 $109,000 19.52%
Jun 1988 $111,500 2.29%
Jun 1989 $122,800 10.13%
Jun 1990 $125,000 1.79%
Jun 1991 $119,000 -4.80%
Jun 1992 $124,500 4.62%
Jun 1993 $124,500 0.00%
Jun 1994 $133,500 7.23%
Jun 1995 $133,700 0.15%
Jun 1996 $140,000 4.71%
Jun 1997 $145,000 3.57%
Jun 1998 $148,000 2.07%
Jun 1999 $159,300 7.64%
Jun 2000 $160,100 0.50%
Jun 2001 $179,400 12.05%
Jun 2002 $190,600 6.24%
Jun 2003 $187,900 -1.42%
Jun 2004 $215,700 14.80%
Jun 2005 $226,100 4.82%
Jun 2006 $243,200 7.56%
Jun 2007 $235,500 -3.17%
Jun 2008 $234,300 -0.51%
Jun 2009 $214,700 -8.37%
Jun 2010 $218,000 1.54%

The source of the above US data is from this www.census.gov PDF Document

Where is the BIG drop in prices during the GFC ?

The US House prices in 2009 were back to 2004 values, which is remarkably similar to the average prices in Sydney NSW, Australia.

Period Sydney Average Change
Jun-2004 $498,800
Jun-2005 $500,000 0.24%
Jun-2006 $497,000 -0.60%
Jun-2007 $513,400 3.30%
Jun-2008 $517,500 0.80%
Jun-2009 $490,000 -5.31%

Source: Australian Bureau of Statistics 6416.0 House Price Indexes: Eight Capital Cities

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