A picture is worth a thousand words: the median monthly home price is just now starting to brush against highs set in the summer of 2005 in inflation-adjusted terms.
![](http://michaeldbraaten.com/wp-content/uploads/2023/05/image-1024x576.png)
On a price per square foot basis the froth of the mid-2000s hasn’t yet been reached:
![](http://michaeldbraaten.com/wp-content/uploads/2023/05/image-1-1024x576.png)
This may be because houses are getting bigger:
![](http://michaeldbraaten.com/wp-content/uploads/2023/05/image-2-1024x576.png)