July 2, 2012 (Chris Moore)
Summer home sales continued to push volume and prices higher with closed transactions increasing by over 18,000 in the last month while home prices jumped five percent during that same time period according to the weekly National Home Sales Snapshot released by DataQuick.
There were 208,626 properties sold over the previous thirty-day rolling period ending June 28th, up 2.3 percent from the previous week’s total of 203,929 sold properties and 9.7 percent higher than the 190,109 properties sold four weeks ago.
Sales volume was 9.3 percent above the previous year’s cycle peak of 190,934 sales which occurred during the 30-day rolling period prior to September 1st.
Last week’s home sales volume was 11.1 percent higher than the 187,835 homes sold during the same period a year ago and was 12.3 percent higher than during the same period three years ago when 185,837 homes were sold.
The median price of a home sold over the current thirty-day rolling period jumped up by $3,500 from last week to $193,500 and was 5.0 percent higher than what it was four weeks ago when the median sales price was $185,000.
Home prices were also 7.5 percent higher than the same period a year ago when the median price of a home was $180,000 and were 6.0 percent higher than what they were three years ago when the median price was also $182,500. It was the 12th 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