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Housing Prices and Sales Volume Gained Sharply in May- Dataquick

Dataquick is reporting a 6.3% increase in sale prices and a 10.1% increase in sales volume for May versus May 2011.  Versus 3 years ago, the median sale price is up 3.3% and volume is up 10.1%.  Prices have now exceeded the 2011 peak reached in July and August and sales volume is virtually at the peak level of last August.

Most of these gains are attributable to a very sharp month to month gain in May. From April 26 to May 31 volume rose  by 9.1% and the median sale price rose by 3.4%.

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US Home Sales and Prices- Click to enlarge

US Home Sales and Prices- Click to enlarge

The data is for sales closed in May, therefore representing contracts mostly signed in March. Recent information reported by a mortgage industry group suggests some cooling of contract activity over the past month. I will have more in depth analysis in the Professional Edition housing update to be posted this evening.

These numbers are not modeled. They are real sales counts and medians from 98 of the top 100 US metros encompassing 66% of US  home sales.

via DQNews – California Home Sale Price Medians by County and City.

For more on housing values, visit the Home Sales Chart page.

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Lee Adler

I’ve been publishing The Wall Street Examiner and its predecessor since October 2000. I also publish LiquidityTrader.com, and was lead analyst for Sure Money Investor, of blessed memory. I developed David Stockman's Contra Corner for Mr. Stockman. I’ve had a wide variety of finance related jobs since 1972, including a stint on Wall Street in both sales, analytical, and trading capacities. Prior to starting the Wall Street Examiner I was a commercial real estate appraiser in Florida for 15 years. I was considered an expert in the analysis of failed properties that ended up in the hands of bank REO divisions, the FDIC, and the RTC. Remember those guys? I also worked in the residential mortgage and real estate businesses in parts of the 1970s and 80s. I have been charting stocks and markets and doing analytical work since I was a teenager. I'm not some Ivory Tower academic, Wall Street guy. My perspective comes from having my boots on the ground and in the trenches, as a real estate broker, mortgage broker, trader, account rep, and analyst. I've watched most of the games these Wall Street wiseguys play from right up close. I know the drill from my 55 years of paying attention. And I'm happy to share that experience with you, right here. 

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