Home Sales and Prices Continue to Trend Downward

October 4, 2011 (Chris Moore)

Weekly home sales volume fell for the third consecutive week and home prices fell for the sixth time in the last seven weeks according to the National Home Sales Snapshot released by DataQuick.

The number of homes sold over the previous thirty day period ending September 29 was 179,577 properties, down 1.7 percent from the previous week’s total of 182,762 properties sold.

The number of homes sold was 7.0 percent higher than the 167,906 homes sold during same period a year ago but was down 12.7 percent from the same period three years ago when 205,818 homes were sold.

The median price of a home sold over the previous thirty day period ending September 29 declined 0.1 percent to $180,000 from $180,200 the previous week.

Home prices were 8.4 percent lower than the same period a year ago when the median price of a home was $196,600 and were down 20.5 percent from the same period three years ago when the median price was $226,500.

Over the last five years, median home prices nationwide have ranged from a high of $275,000 to a low of $170,000.

Sales volume for a thirty day period within the last five years has ranged from a high of 339,669 properties sold to a low of 119,636.

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