Sales of existing homes over the previous thirty days recovered slightly from last week’s tumble according to the National Home Sales Snapshot released by DataQuick while home values increased for the first time since the beginning of January.
There were 164,089 properties sold over the previous thirty-day rolling period ending March 21st, up 0.6 from the previous week’s total of 162,958 sold properties and were 2.1 percent lower than the 167,536 properties sold four weeks ago.
Sales volume was 26.0 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.
Last week’s home sales volume was 11.0 percent higher than the 147,808 homes sold during the same period a year ago and was 11.8 percent higher than during the same period three years ago when 146,727 homes were sold.
The median price of a home sold over the current thirty-day rolling period increased by $500 from the previous week to $189,000. Four weeks ago the median home price was $192,000. Median home prices remain at the levels last seen in late-May/early-June of last year.
Home prices were 11.2 percent higher than the same period a year ago when the median price of a home was $169,900 and were 5.0 percent higher than what they were three years ago when the median price was $180,000. It was the 49th consecutive week that year-over-year home prices surpassed the previous year’s levels.
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
Reported by Chris Moore