Existing Home Sales Continue Upward Trend

Sales of existing homes over the previous thirty days continued their upward trend last week but at a slightly slower pace according to the National Home Sales Snapshot released by DataQuick.

There were 208,384 properties sold over the previous thirty-day rolling period ending May 2nd, up 2.0 percent from the previous week’s total of 204,355 sold properties and 18.6 percent higher than the 175,691 properties sold four weeks ago.

Sales volume was still 6.0 percent lower than the current year’s cycle peak of 221,695 sales which occurred during the 30-day rolling period prior to September 13th of last year.

Last week’s home sales volume was 10.2 percent higher than the 189,115 homes sold during the same period a year ago and was 9.4 percent higher than during the same period three years ago when 190,463 homes were sold.

The median price of a home sold over the current thirty-day rolling period increased by $3,000 to $205,000. Four weeks ago the median home price was $198,000.

Home prices were 13.9 percent higher than the same period a year ago when the median price of a home was $180,000 and were 11.4 percent higher than what they were three years ago when the median price was $184,000. It was the 56th consecutive week that year-over-year home prices surpassed the previous year’s levels.

DataQick Weekly Snapshot 03-13-13

Over the last five 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 five 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