Existing home sales continued their late season push according to the National Home Sales Snapshot released by DataQuick while home values fell for the third consecutive week.
There were 267,316 properties sold over the previous thirty-day rolling period ending September 5th, up 0.4 percent from the previous week’s total of 266,134 sold properties and 3.9 percent higher than the 257,259 properties sold four weeks ago.
Sales volume was 20.6 percent above last year’s cycle peak of 221,695 sales which occurred during the 30-day rolling period prior to September 13th of last year.
Last week’s home sales volume was 18.7 percent higher than the 225,112 homes sold during the same period a year ago and was 48.3 percent higher than during the same period three years ago when 180,305 homes were sold.
The median price of a home sold over the current thirty-day rolling period fell by $164 to $228,837. Four weeks ago the median home price was $229,000. It was the third consecutive week that home prices have declined.
Home prices were 14.2 percent higher than during the same period a year ago when the median price of a home was $200,459 and were 16.2 percent higher than the median price of $196,982 during the same period three years ago. It was the 72nd consecutive week that year-over-year home prices surpassed the previous year’s levels.
Over the last seven years, median home prices nationwide have ranged from a high of $275,000 to a low of $168,500.
Home sales volume over the last seven years has ranged from a high of 339,669 properties sold to a low of 124,051.
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
Reported by Chris Moore