Existing Home Sales Push Past 200k

Sales of existing homes over the last thirty days pushed past the 200,000 mark for the first time since the beginning of December according to the National Home Sales Snapshot released by DataQuick.

There were 204,355 properties sold over the previous thirty-day rolling period ending May 2nd, up 3.3 percent from the previous week’s total of 197,751 sold properties and 21.3 percent higher than the 168,616 properties sold four weeks ago.

Sales volume was still 7.8 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.

Last week’s home sales volume was 10.1 percent higher than the 185,580 homes sold during the same period a year ago and was 10.5 percent higher than during the same period three years ago when 184,988 homes were sold.

The median price of a home sold over the current thirty-day rolling period increased by $2,000 to $202,000. Four weeks ago the median home price was $194,000.

Home prices were 13.8 percent higher than the same period a year ago when the median price of a home was $177,500 and were 9.9 percent higher than what they were three years ago when the median price was $183,800. It was the 55th consecutive week that year-over-year home prices surpassed the previous year’s levels.

DataQuick Weekly Snapshot 05-06-87

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