November 1, 2011 (Chris Moore)
Weekly home sales volume dropped to four month lows last week while home prices remained unchanged from the previous week according to the National Home Sales Snapshot released by DataQuick.
There were 172,934 properties sold over the previous thirty day period ending October 27, down 1.6 percent from the previous week’s total of 175,664 properties sold.
Last week’s home sales volume was still 4.5 percent higher than the 165,556 homes sold during same period a year ago but was down 12.3 percent from the same period three years ago when 197,160 homes were sold. Sales volume is back to levels last seen at the beginning of June.
The median price of a home sold over the previous thirty day period ending October 27 remained unchanged from the previous week at $180,000.
Home prices were 5.1 percent lower than the same period a year ago when the median price of a home was $190,000 and were down 17.1 percent from the same period three years ago when the median price was $217,000.
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