November 22, 2011 (Chris Moore)
Weekly home sales volume resumed their downward march last week after a one week respite while home prices continued their downward trend according to the National Home Sales Snapshot released by DataQuick.
There were 168,511 properties sold over the previous thirty day period ending November 17, down 1.4 percent from the previous week’s total of 170,943 properties sold. Sales are down 4.1 percent over the last month.
Last week’s home sales volume was still 2.8 percent higher than the 165,092 homes sold during same period a year ago but was down 9.1 percent from the same period three years ago when 189,592 homes were sold.
The median price of a home sold over the previous thirty day period ending November 17 decreased 1.1 percent to $177,500 from $179,500 the previous week.
Home prices were 6.5 percent lower than the same period a year ago when the median price of a home was $189,900 and were down 17.4 percent from the same period three years ago when the median price was $215,000.
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.
Tags: DataQuick, home sales, median home price, sales volume