Home Sales Tumble While Prices Climb

(February 4, 2013) The number of existing homes sold over the previous 30 days tumbled last week and are down 4.4 percent from a month ago according to the weekly National Home Sales Snapshot released by DataQuick while home values increased slightly and are up 2.0 percent in the last month.

There were 179,113 properties sold over the previous thirty-day rolling period ending January 31st, down 2.9 percent from the previous week’s total of 184,413 sold properties and 4.4 percent lower than the 187,384 properties sold four weeks ago.

Sales volume was 19.2 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 still 10.7 percent higher than the 161,752 homes sold during the same period a year ago and was 1.1 percent higher than during the same period three years ago when 177,248 homes were sold. Home sales are about where they were at in the beginning of May of last year.

The median price of a home sold over the current thirty-day rolling period increased by $100 from the previous week to $200,000. Four weeks ago the median home price was $196,000.

Home prices were 13.6 percent higher than the same period a year ago when the median price of a home was $176,000 and were 8.1 percent higher than what they were three years ago when the median price was $185,000. It was the 42nd consecutive week that year-over-year home prices surpassed the previous year’s levels.

DataQuick Weekly Snapshot 02-04-13

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

Source:
DataQuick

Reported by Chris Moore