September 13, 2011 (Chris Moore)
Weekly home sales volume dropped last week for the first time after four consecutive weeks of rising sales, while weekly home prices continued to drop for the fourth consecutive week according to the National Home Sales Snapshot released by DataQuick.
The number of homes sold over the previous thirty day period ending September 8 was 187,688 properties, down from the previous week’s total sales of 190,688 properties.
Despite the decline in sales, the number of homes sold was still 5.8 percent higher than the same period a year ago. Home sales for the period were down 12.0 percent from the same period three years ago.
The median price of a home sold over the previous thirty day period ending September 8 was $182,000, down from $183,000 for the period ending the previous week. Home prices were 6.7 percent lower than the same period a year ago and down 20.9 percent from the same period three years ago.
During the same time period last year, the median price of a home in the U.S. was $195,000. Three years ago the median price during this same period was $230,000.
Over the last five years, median home prices have ranged from a high of $275,000 to a low of $170,000.
Sales volume for a thirty day period within the last five years has ranged from a high of 339,669 properties sold to a low of 119,636.
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