Existing Home Sales Hold Steady for a Third Week

Sales of existing homes remained at about the same levels as the previous two weeks according to the National Home Sales Snapshot released by DataQuick while home values edged slightly higher.

There were 258,180 properties sold over the previous thirty-day rolling period ending August 1st, up 0.3 percent from the previous week’s total of 257,365 sold properties and 6.9 percent higher than the 241,449 properties sold four weeks ago.

Sales volume was 16.5 percent above last 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 15.8 percent higher than the 223,031 homes sold during the same period a year ago and was 17.6 percent higher than during the same period three years ago when 219,576 homes were sold.

The median price of a home sold over the current thirty-day rolling period increased by $1,500 to $228,000. Four weeks ago the median home price was $220,000.

Home prices were 14.0 percent higher than during the same period a year ago when the median price of a home was $200,000 and were also14.0 percent higher than what they were three years ago when the median price was $199,990. It was the 67th consecutive week that year-over-year home prices surpassed the previous year’s levels.

DataQuick Weekly Snapshot 08-05-13

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