Demand for existing homes continued to rise over the previous thirty days according to the National Home Sales Snapshot released by DataQuick while home values rebounded after three weeks of declines.
There were 269,817 properties sold over the previous thirty-day rolling period ending September 12th, up 0.9 percent from the previous week’s total of 267,316 sold properties and 2.3 percent higher than the 261,461 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 19.1 percent higher than the 226,510 homes sold during the same period a year ago and was 53.1 percent higher than during the same period three years ago when 176,283 homes were sold.
The median price of a home sold over the current thirty-day rolling period increased by $1,164 to $230,000 after three weeks of declines. Four weeks ago the median home price was also $230,000.
Home prices were 15.0 percent higher than during the same period a year ago when the median price of a home was $200,000 and were 17.9 percent higher than the median price of $195,000 during the same period three years ago. It was the 73rd consecutive week that year-over-year home prices surpassed the previous year’s levels.
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Source: Loan Rate Update