Gold vs. home prices since 1987
Both gold and median U.S. home prices have appreciated meaningfully since the late 20th century, but at very different rates and through different shocks. The chart below indexes both series to 100 at the start of the displayed range so you can compare growth shape — gold is volatile and cyclical, home prices are slower-moving but with a sharp 2008 inflection.
Gold vs. home prices — FAQ
Has gold beaten home prices over the long run?
It depends entirely on the start year you pick. Gold has had multi-decade stretches where it outpaced home prices (2001–2011 was dramatic) and stretches where home prices outpaced it (1995–2000, 2012–2019). The chart lets you toggle ranges so you can see both.
Why does the chart start in 1987?
The Case-Shiller National Home Price Index begins in January 1987. Earlier home-price data exists in the Shiller historical dataset back to 1890 but is not yet wired into this chart — it's on the follow-on roadmap.
Is this nominal or real (inflation-adjusted)?
Both series are nominal (current dollars at the time, not inflation-adjusted). Toggle the CPI line on the chart to see the inflation track underneath; subtract that from gold or home prices for a quick "real" approximation.