NAR Sees U.S. Median Home Price Hitting $1 Million by 2050 as Sales Rebound 4%
Updated
Updated · Fox Business · Jun 17
NAR Sees U.S. Median Home Price Hitting $1 Million by 2050 as Sales Rebound 4%
3 articles · Updated · Fox Business · Jun 17
Summary
Lawrence Yun said the national median home price is on track to reach $1 million by 2050, when many millennials will be nearing traditional retirement age.
Yun framed the forecast as a long-run supply problem, noting the U.S. median existing-home price was nearly $430,000 in May versus $90,000 in 1990.
He said the gap between owners and renters will widen as homeowners keep building equity while average U.S. rent stands at $2,006 a month.
For 2026, Yun does not expect a U.S. recession, sees mortgage rates averaging 6.5%, and projects existing-home sales to rise 4% after a 30-year low in 2025.
Jessica Lautz described a "wonky market" with uneven inventory and demand, though baby boomers, COVID-era buyers and lifestyle renters remain active.
As the homeowner-renter wealth gap widens, what does America's social future look like?
Will building smaller homes and reforming zoning actually solve the affordability crisis for new buyers?
If a home costs $1 million, is it a retirement asset or a lifelong debt trap?
U.S. Housing Market 2026: Rising Prices, Affordability Crisis, and the Road to a $1 Million Median by 2050
Overview
As of mid-2026, the U.S. housing market remains complex and fragmented, with both buyers and sellers facing significant challenges. The national median home sale price reached $395,000 in May 2026, marking a 1.8% increase from the previous year, while luxury homes saw even sharper gains, pushing many properties over the $1 million mark. Despite these price surges, the market is still difficult for many to navigate, as high costs and limited supply persist. These trends highlight a delicate balance between ongoing demand and affordability, shaping the outlook for the rest of the year.