May 14, 2012 (Chris Moore)
Home sales continued to climb during the last month but at the slowest pace reported in the last two months, while home prices remained flat for a third consecutive week according to the weekly National Home Sales Snapshot released by DataQuick.
There were 181,276 properties sold over the previous thirty-day rolling period ending May 10th, up 1.4 percent from the previous week’s total of 178,695 sold properties and 10.5 percent higher than the 163,984 properties sold four weeks ago.
Sales volume is still down 5.1 percent from the current 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 3.6 percent higher than the 174,903 homes sold during the same period a year ago and was 8.9 percent higher than during the same period three years ago when 166,470 homes were sold.
The median price of a home sold over the current thirty-day rolling period increased a modest $100 from last week to $180,000 and was 3.0 percent higher than what it was four weeks ago.
Home prices were also 3.2 percent higher than the same period a year ago when the median price of a home was $174,500 and were 1.1 percent higher than what they were three years ago when the median price was $178,000. It was the fifth 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