Here is an interesting graph from Robert Shiller’s book Irrational Exuberance.
The Yale economist Robert J. Shiller created an index of American housing prices going back to 1890. It is based on sale prices of standard existing houses, not new construction, to track the value of housing as an investment over time. It presents housing values in consistent terms over 116 years, factoring out the effects of inflation.
See also the same graph as a roller coaster ride on Google Video.