Home Buying Pace Pushes Higher

Purchases of existing homes continued at an upbeat pace last week, growing by more than seven percent in the last month and by more than ten percent in the last year according to the National Home Sales Snapshot released by DataQuick.

There were 236,720 properties sold over the previous thirty-day rolling period ending June 27th, up 2.2 percent from the previous week’s total of 231,733 sold properties and 7.2 percent higher than the 220,809 properties sold four weeks ago.

Sales volume was 6.8 percent above last year’s cycle peak of 221,695 sales which occurred during the 30-day rolling period prior to September 13th of last year.

Last week’s home sales volume was 10.6 percent higher than the 213,985 homes sold during the same period a year ago and was 5.2 percent higher than during the same period three years ago when 224,972 homes were sold.

The median price of a home sold over the current thirty-day rolling period increased by $1,000 to $218,000. Four weeks ago the median home price was $210,000.

Home prices were 13.5 percent higher than during the same period a year ago when the median price of a home was $192,000 and were 15.0 percent higher than what they were three years ago when the median price was $189.613. It was the 63rd consecutive week that year-over-year home prices surpassed the previous year’s levels.

DataQuick Weekly Snapshot 07-01-13

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

Source:
DataQuick

Reported by Chris Moore