January 10, 2012 (Chris Moore)
Weekly existing home sales volume improved for the third consecutive week while home prices continued to hold steady during the same time span according to the National Home Sales Snapshot released by DataQuick.
There were 160,998 properties sold over the previous thirty day rolling period ending January 5th, up 3.0 percent from the previous week’s total of 158,091 properties sold. Sales have increased 2.2 percent in the last month.
Last week’s home sales volume was 3.5 percent higher than the 156,322 homes sold during same period a year ago and 7.7 percent higher than during the same period three years ago when 149,530 homes were sold.
The median price of a home sold over the same thirty day rolling period ending January 5th remained virtually unchanged from last week, increasing by only $50 to $179,950 from $179,900. Home prices are 1.7 percent higher than they were a month ago and have fluctuated within a narrow $100 range over the last three weeks.
Home prices were 5.3 percent lower than the same period a year ago when the median price of a home was $190,000 and were 12.2 percent lower than the same period three years ago when the median price was $205,000.
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