My grandmother paid 1000$ for her house in 1950

The average annual inflation rate, based on the increase in house price from $1,000 in 1950 to $800,000 in 2024, is approximately 9.45% per year. 

If you take the average house price it's still higher than the supposed Fed target for inflation

The average annual inflation rate, based on the increase in house price from $7,000 in 1950 to $800,000 in 2024, is approximately 6.61% per year.