NPR reports US home prices hit all time high in June 2025

[alarmguy]

The thing that puzzles me is, nobody settles for the smaller, easier houses to maintain. They all go for the 2,500+ sqft houses on small lots that are a small fortune.

Back in the 60's a house just like mine was all you needed.

I see a good bit of young buyers (hate to generalize, but typically Gen Z) complain they can't afford to buy a home, but I show them my simple house they go "eww no!" and then show me pictures of big houses. Got to be more realistic and within your means.

My son when first married bought a house similar to yours. They had 8ish wonderful years there. Like you a nice piece of property but not as rural. They bought a foreclosure. It was in good shape. They got a USDA loan, barely any down payment. Now on firm footing, 2 kids, stay at home mom and his job going well they do need more room and are building one of those bigger homes you speak of/

But the point was (and very proud of them) they got into their first home on a USDA mortgage, on a foreclosure in a nice area of SC. The house perfectly livable though they did upgrades over time, windows, HVAC etc. Recently sold at 125% their purchase price. I only post this because I feel that if determined anyone can buy a home. My son, did this on his own, no financial help from my side or his wife's side. He used to struggle a bit as a kid but somehow I got him through in a straight and narrow way. Now, what a great confidence booster this last 10 years was for him. Right now, he feels like he is sitting on top of his little part of the world with his family. (im rambling because your photo reminds me of them AND to this day that home will always be special to them)

 

[Delta]

My son when first married bought a house similar to yours. They had 8ish wonderful years there. Like you a nice piece of property but not as rural. They bought a foreclosure. It was in good shape. They got a USDA loan, barely any down payment. Now on firm footing, 2 kids, stay at home mom and his job going well they do need more room and are building one of those bigger homes you speak of/

But the point was (and very proud of them) they got into their first home on a USDA mortgage, on a foreclosure in a nice area of Spartanburg SC. The house perfectly livable though they did upgrades over time, windows, HVAC etc. Recently sold at 125% their purchase price. I only post this because I feel that if determined anyone can buy a home. My son, did this on his own, no financial help from my side or his wife's side. He used to struggle a bit as a kid but somehow I got him through in a straight and narrow way. Now, what a great confidence booster this last 10 years was for him. Right now, he feels like he is sitting on top of his little part of the world with his family. (im rambling because your photo reminds me of them AND to this day that home will always be special to them)

Exactly how I did mine. At the time a good USDA rate and some closing assist from the seller. It was actually bought at auction from the original owners daughter. They were originally gonna rent it, but the wife put a kebash on that. So, I'm only the second person to live there since it was built in 1965.

I do eventually plan on "upgrading". Not the size of the house, but somewhere with either a bigger garage or available land to do it. Due to setback requirements I can't build a shop where I want it. Only place to set it would be right over the future septic field replacement area.

 

[Arc]

No debate with your post.

A question to ask, is home values in collapsed nations. Using Haiti as an example. A failed state, yet single family home prices in Haiti have not collapsed.

It was more of a "when civilizations disappear" thing not just fail. Home prices could have been an indicating factor. Today with a well documented global history it is doubtful we would see an entire empire just cease to be with no unknown cause like in past years. Just a thought.

 

[alarmguy]

History teachers us that every civilization reaches a peak in prosperity right before it disappeared. When things fall apart the people can't adjust and chaos happens. If only we knew what home prices looked like before all the falls we could know where we stand. Or not, who knows lol?

This is an interesting point. A peak in prosperity by the ones that created it gives the younger generations a sense of entitlement. Then chaos happens. The "can do" work ethic and "make it happen" gets lost in that prosperity and something that wasn't taught to them. Because after decades of hard work they see the older generation living it up and think that is the way life is supposed to me. But missing was the formula that got them there.

 

[SC Maintenance]

It was really a generalization, not meant to call out once specific gen. There's younger Millennials that are the same way. I was able to buy this place at 32, but bought within my means. I see houses like mine $275-$300K. But, they all want those "big" houses and they are $400K and up here.

Many houses just like mine are coming to market due to aging out and death. They're all in really decent shape, a little ugly inside, but people see it needs paint and general updating and they scoff at the idea. Me, I'm all for it! I snagged mine for $203K, have about $20K into it and sits on an estimated $280+/-. Was it a good bit of work? Yes. But a feel of big accomplishment. I notice younger people want that instant gratification. Maybe I'm built different...

Things here are rather different. Here are some houses that recently sold. These are <1500 Square feet.

This one is Way, Way, Way out of town (way past me, and I specifically bought 10 years ago because I wanted to be way, way, way out of town. There selling lots of these - new construction on 1/8 acre. Its a nice community and has good schools. Best I can tell there selling like hot cakes.

This is a genrifying area getting pretty close to town - 15 minutes to downtown if there were no traffic. I would like to buy here - the schools are awful but I am beyond that. These are selling pretty quick also. Well they were, that has ended. I am waiting for the price to drop. Mrs. SC says there too small though....

In the same area, where the house is too far gone, they bulldoze and build stuff like this now. Too tall for me.

Note none of these are in the "good" parts of town. Those always bulldozed - either for larger houses or townhomes. Wish I had bought a couple 15 years ago, but I was broke then.

 

[Brons2]

There seems to be less homes on the market in my area, they were really sitting over the winter though.

OTOH, we have a realtor friend who lives in the next neighborhood over from us who has lots of listings that haven't moved, but she works in a little more high end stuff. Things in the $300-500 range are moving. She was really hoping the Fed would drop the rate, but they held steady.

 

[Brons2]

Things here are rather different. Here are some houses that recently sold. These are <1500 Square feet.

This one is Way, Way, Way out of town (way past me, and I specifically bought 10 years ago because I wanted to be way, way, way out of town. There selling lots of these - new construction on 1/8 acre. Its a nice community and has good schools. Best I can tell there selling like hot cakes.

View attachment 292795

This is a genrifying area getting pretty close to town - 15 minutes to downtown if there were no traffic. I would like to buy here - the schools are awful but I am beyond that. These are selling pretty quick also. Well they were, that has ended. I am waiting for the price to drop. Mrs. SC says there too small though....

View attachment 292792

In the same area, where the house is too far gone, they bulldoze and build stuff like this now. Too tall for me.

View attachment 292793

Note none of these are in the "good" parts of town. Those always bulldozed - either for larger houses or townhomes. Wish I had bought a couple 15 years ago, but I was broke then.

I had to get rid of mine that was like the $595K one because I had a kid late and the schools were terrible. But it was great being close in while it lasted (12 years).

 

[Brons2]

My brother is 10 years younger, in his early 30s and has been a renter since college. He makes a good salary and could afford to buy but is content renting. He doesn’t want to do maintenance or be responsible for homeownership. He can rent a place for much less than he could purchase it for. If he ever buys it will probably be a condo but I could see him renting for life.

I doubled up on my last house in 4 years of ownership. The market is obviously not always like that, but I would have never been able to take advantage if I had been renting.

 

[SC Maintenance]

I had to get rid of mine that was like the $595K one because I had a kid late and the schools were terrible. But it was great being close in while it lasted (12 years).

My plan if I stay would have been to keep mine - its nothing special but backs up to a large buffer and its on a dead end loop street - so no one behind, no traffic - hard to find - and buy a condo near the beach / ocean. Go back and forth. However sort of got priced out of that in the last few years, plus I won't buy a Condo now - too many variables.

In the meantime my county is doing its best to ruin the schools here, too many cheap houses / townhomes / apartments. Sorry to the upstanding young folks looking for a start, but it atracts the wrong kind also. So I might want to sell sooner than later.

So were sort of in a stuck pattern waiting for the kids to get done college so we can decide whats next.

 

[GON]

My plan if I stay would have been to keep mine - its nothing special but backs up to a large buffer and its on a dead end loop street - so no one behind, no traffic - hard to find - and buy a condo near the beach / ocean. Go back and forth. However sort of got priced out of that in the last few years, plus I won't buy a Condo now - too many variables.

In the meantime my county is doing its best to ruin the schools here, too many cheap houses / townhomes / apartments. Sorry to the upstanding young folks looking for a start, but it atracts the wrong kind also. So I might want to sell sooner than later.

So were sort of in a stuck pattern waiting for the kids to get done college so we can decide whats next.

Cheap townhomes, houses, condos, etc are big short term windfalls for a township. Over the long run these high density housing end up costing the township huge in police, fire, schools, etc.

 

[alarmguy]

My son when first married bought a house similar to yours. They had 8ish wonderful years there. Like you a nice piece of property but not as rural. They bought a foreclosure. It was in good shape. They got a USDA loan, barely any down payment. Now on firm footing, 2 kids, stay at home mom and his job going well they do need more room and are building one of those bigger homes you speak of/

But the point was (and very proud of them) they got into their first home on a USDA mortgage, on a foreclosure in a nice area of SC. The house perfectly livable though they did upgrades over time, windows, HVAC etc. Recently sold at 125% their purchase price. I only post this because I feel that if determined anyone can buy a home. My son, did this on his own, no financial help from my side or his wife's side. He used to struggle a bit as a kid but somehow I got him through in a straight and narrow way. Now, what a great confidence booster this last 10 years was for him. Right now, he feels like he is sitting on top of his little part of the world with his family. (im rambling because your photo reminds me of them AND to this day that home will always be special to them)

I’m updating my own post because as I reread it, I should’ve stated not a selling price of 125% but his profit was 125% above what he paid for the house
Meaning sold it for double the price he paid for it plus another 25%

 

[Zee09]

Just got my property tax assesment in the mail recently. I know my home value is going up

I didn’t even open mine...
From what i just saw, they should be going down... I don't trust Redfin but look at this crazy graph for a 22 acre lot I own in MD..