October 11, 2011 (Chris Moore)
Weekly home sales volume increased last week after falling for the previous three weeks while home prices posted its first weekly gain in eight weeks according to the National Home Sales Snapshot released by DataQuick.
The number of homes sold over the previous thirty day period ending October 6 was 180,659 properties, up 0.6 percent from the previous week’s total of 179,577 properties sold.
Last week’s home sales volume was 8.5 percent higher than the 166,353 homes sold during same period a year ago but was down 12.2 percent from the same period three years ago when 205,663 homes were sold.
The median price of a home sold over the previous thirty day period ending October 6 increased 1.1 percent to $182,000 from $180,000 the previous week.
Home prices were 6.7 percent lower than the same period a year ago when the median price of a home was $195,000 and were down 19.1 percent from the same period three years ago when the median price was $225,000.
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