Existing Home Sales Hold Steady

Sales of existing homes remained at the previous week’s levels according to the National Home Sales Snapshot released by DataQuick while home values posted another slight increase.

There were 204,629 properties sold over the previous thirty-day rolling period ending January 2nd, one hundred and thirty-one sales above the previous week’s total of 204,498 sold properties but was still 6.6 percent lower than the 219,035 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 last year.

Last week’s home sales volume was 5.3 percent higher than the 194,273 homes sold during the same period a year ago and was 34.0 percent higher than during the same period three years ago when 152,716 homes were sold.

The median price of a home sold over the current thirty-day rolling period increased by $500 to $221,500 after increasing by $1,000 the week before. Four weeks ago the median home price was $220,000.

Home prices were 10.8 percent higher than during the same period a year ago when the median price of a home was $199,900 and were 17.2 percent higher than the median price of $189,000 during the same period three years ago.

DataQuick Weekly Snapshot 01-06-14

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