Existing Home Sales Plummet

Sales of existing homes fell by over fourteen thousand transactions last week according to the National Home Sales Snapshot released by DataQuick while home prices held steady for another week

There were 207,914 properties sold over the previous thirty-day rolling period ending December 19th, down 6.6 percent from the previous week’s total of 222,597 sold properties and 8.7 percent lower than the 227,831 properties sold four weeks ago.

Sales volume was 22.9 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 9.4 percent higher than the 190,100 homes sold during the same period a year ago and was 36.1 percent higher than during the same period three years ago when 152,819 homes were sold.

The median price of a home sold over the current thirty-day rolling period remained unchanged from last week at $220,000, the third consecutive week that home values have remained at that level. Four weeks ago the median home price was $218,000.

Home prices were 11.7 percent higher than during the same period a year ago when the median price of a home was $197,000 and were 15.9 percent higher than the median price of $189,900 during the same period three years ago.

DataQuick Weekly Snapshot 12-23-13

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