December 31, 2012 (Chris Moore)
Sales of existing homes fell again last week but at a much slower pace than the previous two weeks while home prices rebounded slightly to the previous week’s level according to the weekly National Home Sales Snapshot released by DataQuick.
There were 189,466 properties sold over the previous thirty-day rolling period ending December 27th, down 0.6 percent from the previous week’s total of 190,635 sold properties and 6.4 percent lower than the 202,385 properties sold four weeks ago.
Sales volume was 14.5 percent lower than the current year’s cycle peak of 221,695 sales which occurred during the 30-day rolling period prior to September 13th.
Last week’s home sales volume was still13.0 percent higher than the 167,710 homes sold during the same period a year ago but was 10.7 percent lower than during the same period three years ago when 212,103 homes were sold.
The median price of a home sold over the current thirty-day rolling period increased by $300 from the previous week to $196,000. Four weeks ago the median home price was $195,000.
Home prices were 8.9 percent higher than the same period a year ago when the median price of a home was $180,000 and were 4.3 percent higher than what they were three years ago when the median price was $188,000. It was the 37th 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