December 6, 2011 (Chris Moore)
Weekly existing home sales volume and prices were relatively stable last week with both falling slightly from the previous week according to the National Home Sales Snapshot released by DataQuick.
There were 165,285 properties sold over the previous thirty day rolling period ending December 1st, down 0.3 percent from the previous week’s total of 165,729 properties sold. Sales are down 2.2 percent in the last month.
Last week’s home sales volume was still 1.8 percent higher than the 162,417 homes sold during same period a year ago but was down 8.2 percent from the same period three years ago when 180,139 homes were sold.
The median price of a home sold over the previous thirty day rolling period ending December 1st decreased 0.1 percent to $175,000 from $175,250 the previous week. Home prices have fallen 2.7 percent in the last month and are only $5,000 away from reaching the five year low.
Home prices were 7.9 percent lower than the same period a year ago when the median price of a home was $190,000 and were down 17.5 percent from the same period three years ago when the median price was $212,000.
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