Existing home sales improved for the third consecutive week according to the National Home Sales Snapshot released by DataQuick while home values increased by $2,000, the fifth consecutive week that home values have improved.
There were 188,680 properties sold over the previous thirty-day rolling period ending April 18th, up 7.4 percent from the previous week’s total of 175,691 sold properties and 15.0 percent higher than the 164,089 properties sold four weeks ago.
Sales volume was still 15.0 percent lower than the current year’s cycle peak of 221,695 sales which occurred during the 30-day rolling period prior to September 13th.
Last week’s home sales volume was 6.6 percent higher than the 177,059 homes sold during the same period a year ago and was 8.9 percent higher than during the same period three years ago when 173,186 homes were sold.
The median price of a home sold over the current thirty-day rolling period increased by $2,000 to $200,000. Four weeks ago the median home price was $189,000.
Home prices were 14.3 percent higher than the same period a year ago when the median price of a home was $175,000 and were 9.9 percent higher than what they were three years ago when the median price was $182,000. It was the 53rd consecutive week that year-over-year home prices surpassed the previous year’s levels.
Over the last five 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 five 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