Seasonal Home Buying Momentum Continues

Sales of existing homes over the past thirty days continued their seasonal upward momentum with over 4,700 additional transactions reported last week than the week before according to the National Home Sales Snapshot released by DataQuick.

There were 241,449 properties sold over the previous thirty-day rolling period ending July 4th, up 2.0 percent from the previous week’s total of 236,720 sold properties and 6.8 percent higher than the 226,067 properties sold four weeks ago.

Sales volume was 8.9 percent above last year’s cycle peak of 221,695 sales which occurred during the 30-day rolling period prior to September 13th of last year.

Last week’s home sales volume was 11.2 percent higher than the 217,097 homes sold during the same period a year ago and was 4.7 percent higher than during the same period three years ago when 230,673 homes were sold.

The median price of a home sold over the current thirty-day rolling period increased by $2,000 to $220,000. Four weeks ago the median home price was $212,500.

Home prices were 12.8 percent higher than during the same period a year ago when the median price of a home was $195,000 and were 15.8 percent higher than what they were three years ago when the median price was $190,000. It was the 64th consecutive week that year-over-year home prices surpassed the previous year’s levels.

DataQuick Weekly Snapshot 07-08-13

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 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