One Median, Two Measures

Between Q3 2025 and Q2 2026, the median sales price of a new single-family home in the US rose by 0.15% in dollar terms Census/HUD via FRED. According to our calculations, the average quarterly price of gold increased by 30.45% over the same period data from the World Bank.

As a result, the ratio of the home price to the gold price decreased by 23.23%. This is our own calculation based on public data. It shows how the value of one asset changes when measured in units of another.

What the Home Price Covers

The U.S. Census Bureau statistics track sales of new single-family homes only, including the land. They do not include multi-family buildings, rental housing, or homes built on the owner's land Census Definitions.

A sale is recorded when a contract is signed or a deposit is made, not upon closing. The data series reflects the price distribution of different homes sold, not repeat sales of the same property. The median is the midpoint of this price distribution: half of the homes sold for less, and half sold for more.

The data is collected through a sample survey, not a complete count of all transactions in the country Census Methodology. The mix of homes sold can change from quarter to quarter. A decrease in the median could mean either that comparable properties have become cheaper or that more lower-priced homes were sold during that period.

How We Arrived at 91 Ounces

To make the comparison, we used quarterly median new home sales prices and average gold prices for the same three-month periods. All prices are nominal, in U.S. dollars; the median home price series is not seasonally adjusted.

Calculation Formula: Gold Equivalent (troy oz) = Quarterly Median New Home Price (USD) / Average Quarterly Gold Price (USD/troy oz).

The quarterly gold price is the simple average of three monthly average spot prices from the World Bank Pink Sheet, not a weighted average of all transactions. In June 2025, the World Bank changed its definition of the Gold series: it now uses the average spot price instead of the London PM Fix. Therefore, our calculation begins with Q3 2025, the first full quarter after this change. The original monthly values in the file are rounded to the nearest dollar; the decimal figures in our table result from averaging.

Period	Median New Home Sales Price, USD	Average Gold Price, USD/troy oz	Gold Equivalent of Median, troy oz
Q3 2025	410,100	3,458.67	118.6
Q4 2025	412,300	4,151.33	99.3
Q1 2026	408,500	4,876.33	83.8
Q2 2026	410,700	4,512.00	91.0

Sources: Census/HUD via FRED, updated July 24, 2026; World Bank Pink Sheet, August 4, 2026 issue. Quarterly gold prices and the gold equivalent are our own calculations.

Why the Number of Ounces First Fell, Then Rose

Sources: Census/HUD MSPUS via FRED (24 July 2026) and World Bank Commodity Price Data, Pink Sheet (4 August 2026). Editorial calculation: the quarterly, not-seasonally-adjusted median for new single-family homes including land, divided by the mean of three monthly gold-price averages. The sales mix changes: this is not an unchanged home, mortgage affordability or total return. WB data and reuse terms accompany the figure. World Bank Pink Sheet; data reuse terms. World Bank terms include a third-party-rights caveat. Data CSV.

By Q1 2026, the ratio had fallen from 118.6 to 83.8 ounces: the average quarterly gold price rose, while the median new home sales price decreased slightly. In the fraction, the numerator changed little, while the denominator increased significantly.

In Q2 2026, the trend reversed: the ratio increased from 83.8 to 91.0 ounces. The average quarterly gold price fell relative to Q1, while the median new home sales price rose slightly.

What This Yardstick Misses

The resulting number of ounces is not a ready-made purchasing budget or a measure of housing affordability. Besides the home price, one must consider property taxes, insurance, utilities, repairs, and maintenance. For a mortgage, the down payment, interest rates, and the monthly payment relative to the buyer's income are also crucial Consumer Financial Protection Bureau.

The calculation also doesn't account for transaction costs. Retail premiums and the spread between the buy and sell prices for physical gold can change the cash available for a purchase. Additionally, there are costs for storage, insurance, and taxes, which were not estimated here.

How to Make Good Use of This Metric

The metric expresses the quarterly median new home sales price in notional troy ounces at the average gold price for the same quarter. It is a comparison of two data series, not a calculation for a potential transaction on a specific day.

This metric is not a forecast of future prices, a mortgage affordability index, or an assessment of the total return on investment for real estate or gold. Its value lies in showing how the two price series move relative to each other. This yardstick offers an additional perspective on price, but it does not represent the single "true" value of a home.