The term "house prices" refers to the value or worth of a residential property. It represents how much money one would have to pay in order to purchase a particular house, taking into account factors such as location, size, condition and amenities. House prices can vary greatly depending on where you live, with real estate markets in major cities often being more expensive than those in smaller towns or rural areas. The price of a home is an important consideration for buyers, who want to ensure they are getting good value for their money while also taking into account other factors such as mortgage rates and property taxes.