Weekly Home Sales Volume and Prices Resume Downward Fall

October 18, 2011 (Chris Moore)

Weekly home sales volume and prices fell back into the loss column this last week following a brief respite the previous week according to the National Home Sales Snapshot released by DataQuick.

The number of homes sold over the previous thirty day period ending October 13 was 175,863 properties, down 2.7 percent from the previous week’s total of 180,659 properties sold.

Last week’s home sales volume was still 6.5 percent higher than the 165,113 homes sold during same period a year ago but was down 13.6 percent from the same period three years ago when 203,590 homes were sold.

The median price of a home sold over the previous thirty day period ending October 13 decreased a modest 0.1 percent to $181,800 from $182,000 the previous week.

Home prices were 5.8 percent lower than the same period a year ago when the median price of a home was $193,000 and were down 17.4 percent from the same period three years ago when the median price was $220,000.

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

Source:
DataQuick