Tag Archives: existing home sales

Existing Home Sales Data from NAR

31 Oct

The Existing-Home Sales data measures sales and prices of existing single-family homes for the nation overall, and gives breakdowns for the West, Midwest, South, and Northeast regions of the country. These figures include condos and co-ops, in addition to single-family homes.

Latest News

After a modest decline last month, existing-home sales bounced back in September to their highest annual pace of the year. Read the full news release.

View supplemental market data (Excel: 42 KB)
Summary of September 2014 Existing Home Sales Statistics (PDF: 369 KB)

Next release: Existing-Home Sales for October is scheduled for November 20, 2014.

Overview

Current sales rates, actual totals and median prices by month going back 12 months. Annual totals for three years. Includes all existing-home sales — single-family, condos and co-ops — rolled into monthly and annual totals. This file contains figures for the nation and four regions. It does not contain breakouts.

Existing-Home Sales Overview Chart for Printing (PDF: 28 KB)
Existing-Home Sales Overview Chart for Database Work (MS Excel: 36 KB)

Map of Existing-Home Sales Regions

Breakouts of Single-family, Condo and Co-op

Figures for the nation only — includes total existing-home sales, single-family sales and condo/co-op sales — seasonally adjusted and actual. Months supply by category also included. Median and average sales prices for all existing-home sales, for single-family sales and for condo-co-op sales.

Total Sales With Breakouts of Single-family and Condo/Co-op for Printing(PDF: 22 KB)
Total Sales With Breakouts of Single-family and Condo/Co-op Spreadsheet for Database Work (MS Excel: 36 KB)

Single-Family Existing-Home Sales and Prices

Current single-family existing-home sales rates, actual totals and median prices by month for 12 months. Annual totals for three years. Figures for the nation and four regions.

Single-Family Only for Printing (PDF: 27 KB)
Single-Family Only Spreadsheet for Database Work (MS Excel: 37 KB)

Map of Existing-Home Sales Regions

Condo and Co-op Sales and Prices

Current condo and co-op sales rates, actual totals and median prices by month for 12 months. Annual totals for three years. Figures for the nation and four regions.

Condo/Co-op Only for Printing (PDF: 26 KB)
Condo/Co-op Spreadsheet for Database Work (MS Excel: 37 KB)

Map of Existing-Home Sales Regions

Seasonally-Adjusted Historical Files

Each February, NAR Research incorporates a normal review of seasonal activity factors and fine-tunes historic data for the past three years based on the most recent findings. Revisions have been made to monthly seasonally adjusted annual sales rates for 2011 through 2013, as well as the inventory month’s supply data; most revisions are minor with little or no impact on previous characterizations of the overall market. There are no revisions to monthly home prices (single family and condo) or to raw inventory data (beyond normal prior-month revisions).

Seasonally-Adjusted Historical Files (MS Excel: 28 KB)

National Association of Realtors Reports Strong Existing-Home Sales

24 Jan

December Existing-Home Sales Rise, 2013 Strongest in Seven Years

Media Contact: Walter Molony / 202-383-1177 / Email

WASHINGTON (January 23, 2014) – Existing-home sales edged up in December, sales for all of 2013 were the highest since 2006, and median prices maintained strong growth, according to the National Association of Realtors®.

Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 1.0 percent to a seasonally adjusted annual rate of 4.87 million in December from a downwardly revised 4.82 million in November, but are 0.6 percent below the 4.90 million-unit level in December 2012.

For all of 2013, there were 5.09 million sales, which is 9.1 percent higher than 2012. It was the strongest performance since 2006 when sales reached an unsustainably high 6.48 million at the close of the housing boom.

Lawrence Yun, NAR chief economist, said housing has experienced a healthy recovery over the past two years. “Existing-home sales have risen nearly 20 percent since 2011, with job growth, record low mortgage interest rates and a large pent-up demand driving the market,” he said. “We lost some momentum toward the end of 2013 from disappointing job growth and limited inventory, but we ended with a year that was close to normal given the size of our population.”

The national median existing-home price for all of 2013 was $197,100, which is 11.5 percent above the 2012 median of $176,800, and was the strongest gain since 2005 when it rose 12.4 percent.

The median existing-home price for all housing types in December was $198,000, up 9.9 percent from December 2012. Distressed homes – foreclosures and short sales – accounted for 14 percent of December sales, unchanged from November; they were 24 percent in December 2012. The shrinking share of distressed sales accounts for some of the price growth.

Ten percent of December sales were foreclosures, and 4 percent were short sales. Foreclosures sold for an average discount of 18 percent below market value in December, while short sales were discounted 13 percent.

Total housing inventory at the end of December fell 9.3 percent to 1.86 million existing homes available for sale, which represents a 4.6-month supply at the current sales pace, down from 5.1 months in November. Unsold inventory is 1.6 percent above a year ago, when there was a 4.5-month supply.

The median time on market for all homes was 72 days in December, up sharply from 56 days in November, but slightly below the 73 days on market in December 2012. Adverse weather reportedly delayed closings in many areas. Twenty-eight percent of homes sold in December were on the market for less than a month, down from 35 percent in November, which appears to be a weather impact.

Short sales were on the market for a median of 122 days in December, while foreclosures typically sold in 67 days and non-distressed homes took 70 days.

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage rose to 4.46 percent in December from 4.26 percent in November; the rate was 3.35 percent in December 2012.

NAR President Steve Brown, co-owner of Irongate, Inc., Realtors® in Dayton, Ohio, said that with jobs expected to improve this year, sales should hold even despite rising home prices and higher mortgage interest rates. “The only factors holding us back from a stronger recovery are the ongoing issues of restrictive mortgage credit and constrained inventory,” he said. “With strict new mortgage rules in place, we will be monitoring the lending environment to ensure that financially qualified buyers can access the credit they need to purchase a home.”

First-time buyers accounted for 27 percent of purchases in December, down from 28 percent in November and 30 percent in December 2012.

All-cash sales comprised 32 percent of transactions in December, unchanged from November; they were 29 percent in December 2012. Individual investors, who account for many cash sales, purchased 21 percent of homes in December, up from 19 percent in November, but are unchanged from December 2012.

Single-family home sales rose 1.9 percent to a seasonally adjusted annual rate of 4.30 million in December from 4.22 million in November, but are 0.7 percent below the 4.33 million-unit pace in December 2012. The median existing single-family home price was $197,900 in December, up 9.8 percent from a year ago.

Existing condominium and co-op sales fell 5.0 percent to an annual rate of 570,000 units in December from 600,000 units in November, and are unchanged a year ago. The median existing condo price was $198,600 in December, which is 10.9 percent above December 2012.

Regionally, existing-home sales in the Northeast slipped 1.5 percent to an annual rate of 640,000 in December, but are 3.2 percent higher than December 2012. The median price in the Northeast was $239,300, up 3.6 percent from a year ago.

Existing-home sales in the Midwest fell 4.3 percent in December to a pace of 1.11 million, and are 0.9 percent below a year ago. The median price in the Midwest was $150,700, which is 7.0 percent higher than December 2012.

In the South, existing-home sales increased 3.0 percent to an annual level of 2.03 million in December, and are 4.6 percent above December 2012. The median price in the South was $173,200, up 8.9 percent from a year ago.

Existing-home sales in the West rose 4.8 percent to a pace of 1.09 million in December, but are 10.7 percent below a year ago. Inventory is tightest in the West, which is holding down sales in many markets, and multiple bidding is causing it to experience the strongest price gains in the U.S. The median price in the West was $285,000, up 16.0 percent from December 2012.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries. For additional commentary and consumer information, visit www.houselogic.com and http://retradio.com.

Home prices show one of the strongest annual price gains in 8 years

25 Sep

Existing-home sales in August reached their highest level in six years according to the National Association of Realtors (NAR).

 

Total existing-home sales rose 1.7% to a seasonally adjusted annual rate of 5.48 million in August. This was an increase from July’s 5.39 million, and 13.2% higher year-over-year compared to August 2012.

 

Total housing inventory at the end of August increased 0.4% to 2.25 million existing homes available for sale. This figure represents a 4.9-month supply at the current sales pace, down from a 5.0-month supply in July.

 

Meanwhile, the national average commitment rate for a 30-year conventional fixed-rate mortgage rose to 4.46% in August, and is the highest since July 2011 when it was 4.55%. In August 2012, the rate was 3.60%.

The national median existing-home price for all housing types was $212,100 in August, up 14.7% from year ago levels, and the strongest year-over-year appreciation since October 2005, when the median price rose 16.6%.

 

August’s home price increase was also the ninth consecutive month of double-digit year-over-year increases, and marks 18 consecutive months of annual gains.

 

Rising home values will encourage more people to sell as homeowners’ equity continues to improve, says NAR President Gary Thomas.

 

“Most of those owners also will be buying another home, but higher levels of new home construction going into 2014, combined with some reduction in demand from less favorable affordability conditions, will help to moderate price growth to more sustainable levels,” he said.

Home Sales, Prices Up

30 Nov

October’s 2.1 increase of existing home sales represents a seasonally adjusted annual rate of 4.79 million as reported by the National Association of Realtors (NAR)., putting October at a 10.9% year-over increase from the 4.32 million-unit figure in October 2011.

“Home sales continue to trend up and most October transactions were completed by the time the storm [Sandy] hit, but the growing demand with limited inventory is pressuring home prices in much of the country, said Lawrence Yun, NAR chief economist. “We expect an impact on Northeastern home sales in the coming months from a pause and delays in storm-impacted regions.”

NAR notes the national median existing-home price for all housing types was $178,600 in October, an 11.1% rise from last year, marking eight consecutive monthly year-over-year increases.

“Rising home prices have already resulted in a $760 billion growth in home equity during the past year,” said Yun. “Given that percentage point of price appreciation translates into an additional $190 billion in home equity, we could see close to a $1 trillion gain next year.”