Home/Mortgages, Real Estate/Existing Home Sales Take a Dip as Spring Selling Season Remains on Hold

The beginning of the spring selling season remained on hold as existing home sales over the latest thirty day rolling period dipped by a thousand sales from last week according to the National Home Sales Snapshot released by DataQuick while home values increased for the second consecutive week.

There were 163,085 properties sold over the previous thirty-day rolling period ending March 28th, down 0.6 from the previous week’s total of 164,089 sold properties and were 3.4 percent lower than the 168,811 properties sold four weeks ago.

Sales volume was 26.4 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 still 4.9 percent higher than the 155,457 homes sold during the same period a year ago and was 10.0 percent higher than during the same period three years ago when 148,217 homes were sold.

The median price of a home sold over the current thirty-day rolling period increased by $1,000 from the previous week to $190,000. Four weeks ago the median home price was also $190,000.

Home prices were 11.8 percent higher than the same period a year ago when the median price of a home was $170,000 and were 5.6 percent higher than what they were three years ago when the median price was $180,000. It was the 50th consecutive week that year-over-year home prices surpassed the previous year’s levels.

DataQuick Weekly Snapshot 04-01-13

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