Existing Home Sales Continue Slide

Sales of existing homes continued to slide last week according to the National Home Sales Snapshot released by DataQuick while home values posted a slight increase.

There were 204,498 properties sold over the previous thirty-day rolling period ending December 26th, down 1.6 percent from the previous week’s total of 207,914 sold properties and 8.7 percent lower than the 221,468 properties sold four weeks ago.

Sales volume was 24.2 percent below this year’s cycle peak of 269,817 sales which occurred during the 30-day rolling period prior to September 12th of this year.

Last week’s home sales volume was still 6.4 percent higher than the 192,139 homes sold during the same period a year ago and was 34.8 percent higher than during the same period three years ago when 151,663 homes were sold.

The median price of a home sold over the current thirty-day rolling period increased by $1,000 last week to $221,000 after remaining at $220,000 for the previous three weeks. Four weeks ago the median home price was $216,160.

Home prices were 11.1 percent higher than during the same period a year ago when the median price of a home was $199,000 and were 16.3 percent higher than the median price of $190,000 during the same period three years ago.

DataQuick Weekly Snapshot 12-26-13

Over the last seven years, median home prices nationwide have ranged from a high of $275,000 to a low of $168,500.

Home sales volume over the last seven years has ranged from a high of 339,669 properties sold to a low of 124,051.

The National Home Sales Snapshot includes 98 out of the top 100 metropolitan statistical areas covering 66.25 percent of U.S. home sales.

Tags: DataQuick, home sales, median home price, sales volume

Source:
DataQuick

Reported by Chris Moore