Home Sales See First Rise in Three Months

Existing home sales saw their first rise in three months last week according to the National Home Sales Snapshot released by DataQuick while home prices held steady from the previous week

There were 222,597 properties sold over the previous thirty-day rolling period ending December 12th, up 1.6 percent from the previous week’s total of 219,035 sold properties but still 3.9 percent lower than the 231,567 properties sold four weeks ago.

Sales volume was still 17.5 percent below this year’s cycle peak of 269,817 sales which occurred during the 30-day rolling period prior to September 12th of this year.

Last week’s home sales volume was 14.1 percent higher than the 195,052 homes sold during the same period a year ago and was 41.9 percent higher than during the same period three years ago when 156,870 homes were sold.

The median price of a home sold over the current thirty-day rolling period remained unchanged from last week at $220,000 after increasing by $3,840 the week before. Four weeks ago the median home price was $219,900.

DataQuick Weekly Snapshot 12-16-13

Home prices were 12.5 percent higher than during the same period a year ago when the median price of a home was $195,505 and were 17.0 percent higher than the median price of $188,000 during the same period three years ago.

Over the last seven 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 seven 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

Source:
DataQuick

Reported by Chris Moore