Existing home sales have increased by over twenty percent over the last four weeks according to the National Home Sales Snapshot released by DataQuick while home values have increased by five percent during the same period.
There were 197,751 properties sold over the previous thirty-day rolling period ending April 25th, up 4.8 percent from the previous week’s total of 188,680 sold properties and 21.3 percent higher than the 163,085 properties sold four weeks ago.
Sales volume was still 10.8 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 9.4 percent higher than the 180,778 homes sold during the same period a year ago and was 9.8 percent higher than during the same period three years ago when 180,067 homes were sold.
The median price of a home sold over the current thirty-day rolling period remained unchanged at $200,000. Four weeks ago the median home price was $190,000.
Home prices were 14.3 percent higher than the same period a year ago when the median price of a home was $175,000 and were 9.9 percent higher than what they were three years ago when the median price was $182,000. It was the 54th 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