Weekly Home Sales Fall but Prices Up for Second Consecutive Week

December 20, 2011 (Chris Moore)

Weekly existing home sales volume continued to decline last week while home prices rose for the second consecutive week according to the National Home Sales Snapshot released by DataQuick.

There were 155,305 properties sold over the previous thirty day rolling period ending December 15th, down 1.4 percent from the previous week’s total of 157,494 properties sold. Sales are down 7.8 percent in the last month.

Last week’s home sales volume was still 2.8 percent higher than the 151,029 homes sold during same period a year ago but was down 4.9 percent from the same period three years ago when 163,298 homes were sold.

The median price of a home sold over the previous thirty day rolling period also ending December 15th increased 1.7 percent to $180,000 from $177,000 the previous week. It was the second consecutive week that home prices have increased which puts prices 1.4 percent higher than they were a month ago.

Home prices were 5.5 percent lower than the same period a year ago when the median price of a home was $190,500 and were down 13.8 percent from the same period three years ago when the median price was $208,900.

Over the last five years, median home prices nationwide 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.

DataQuick Weekly Snapshot 12-20-11

Tags: DataQuick, home sales, median home price, sales volume

Source:
DataQuick