September 10, 2012 (Chris Moore)
Existing home sales increased slightly but still remained at similar levels seen over the previous eight weeks according to the weekly National Home Sales Snapshot released by DataQuick while home prices haven’t budged for the last five weeks.
There were 219,926 properties sold over the previous thirty-day rolling period ending August 30th, up 443 sales from the previous week’s total of 219,483 sold properties and 0.9 percent higher than the 217,931 properties sold four weeks ago.
Sales volume was only 499 below the current year’s cycle peak of 220,425 sales which occurred during the 30-day rolling period prior to July 19th.
Last week’s home sales volume was 10.3 percent higher than the 199,430 homes sold during the same period a year ago and was 0.8 percent higher than during the same period three years ago when 218,087 homes were sold.
The median price of a home sold over the current thirty-day rolling period remained unchanged for the fifth consecutive week at $200,000.
Home prices were 6.1 percent higher than the same period a year ago when the median price of a home was $188,500 and were 2.6 percent higher than what they were three years ago when the median price was also $195,000. It was the 22nd 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