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Home Sales and Prices Continued Their Rise and Listing Inventory Continued Decline Last Week

The 30 day moving average of US house sales showed prices and volume continuing to rise in the week ended June 14 in data reported by Dataquick. There were 198,090 sales recorded for the period, versus 194,965 for the period ended June 7, which was 8.2% higher than the year ago period. Median sale prices rose from $188,000 to $189,500 for a gain of 6.8%. That was a slowing from the previous week, when the year over year gain was 7.4%, but it still represents an acceleration from the May 17 figure, which was 4.3%.

US Home Sales and Prices 30 day moving averages- DataQuick - Click to enlarge
US Home Sales and Prices 30 day moving averages- DataQuick – Click to enlarge

Source: DQNews – California Home Sale Price Medians by County and City. Using the most current 30/31 days for each county. Covers 98 of the Top 100 US MSAs (excludes Louisville and Wichita) – 66.25% of US home sales. These numbers are not modeled. They are real sales counts and medians.

Aggregate listing prices from have proven to be accurate representations of the trend of the market. Subsequently released sales data has shown that sales prices are consistently between 95% and 97% of listing prices. The median real time listing price of 54 large US metropolitan areas has risen by0.6% in the month ended June 11, with a year to year gain of 2.1%. That indicates a slowing of the rate of appreciation from recent months. Data

Listing Inventory fell  by 1.3 percent in the month ended June 11, and are down 21.8% year to year. Normally inventories peak in the summer between June and August. If this turn sticks, it would suggest that the trend of declining inventory is continuing.

See also NAHB Data Shows Increasing Model Home Traffic, Sales Should Follow

Wall Street Examiner Home Sales Charts

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