Even as the housing market continues to be a boon to the overall U.S. economy, it is still below historical norms in many ways. As it continues its climb back to, and beyond, historical norms, The Wall Street Journal has created nine charts to act as a visual representation of the housing market as a whole.
Charts measuring U.S. existing-home sales, U.S. median existing-home sale price, the monthly interest rate on a conventional 30-year fixed rate mortgage, privately owned single-family housing starts, and the 12-month moving average for U.S. private-sector construction spending are all included.
For example, sales of existing homes have grown to their highest level in over nine years and prices reached a new peak in May, but as another chart shows, after being adjusted for inflation, prices remain below their bubble-era peak, easing any fears of an overheating market.
Meanwhile, interest rates continue to rest near historic lows and private-sector construction spending for both single-family and multifamily homes continues to grow.
For a look at all nine charts, click the link below.