The average, or arithmetic mean, sales price is obtained by dividing the sum of all the sales prices reported by the number of houses reporting a sales price. Median Months For Sale The median number of months for sale is the median number of months from the month of completion to the ...
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Sales have increased year-over-year for 12 consecutive months. June’s sales were the highest for that month since 2006, when 31,602 homes sold, but were 17.7 percent below the average June sales total since 1988, when DataQuick’s statistics begin. June sales peaked at 40,156 in 2005 a...
contracts typically take about two months to finalize, so pending home sales presage a drop next month when data on existing home sales is released for march. “three of the four major u.s. regions saw contract signings fall month-over-month, with the northeast being the only ar...
Elevated mortgage rates took a bite out of new home sales in February, as they declined slightly from the previous month. Builders continue to respond to affordability concerns; half of the homes sold in February cost under $400,000, compared with 45% in January. March 25, 2024 Holden Lewis...
Sales of previously owned homes tumbled 1.5% in December from the prior month to an annual rate of 4.02 million units, according to new data released Friday by the National Association of Realtors (NAR). On an annual basis, existing home sales are down 34% when compared with D...
Total month supply of existing homes increased to 11.1 in June from 10.8 in May, while housing inventory at the end of June rose 0.2 percent to 4.49 million existing homes available for sale. NAR chief economist, Lawrence Yun, said first-time home buyers are critical to the health of the ...
He added that “home prices reaching a record high for the month of April is very good news for homeowners.” A stalled recovery for the housing market The US housing market’s recovery from earlier in the year was cut short when it became clear the Federal Reserve likely won’t cut inte...
New sales and existing home sales data releases usually occur at around the same time each month. Given the difference in definition, new home sales lead existing home sales with regard to changes in the residential sales market by a month or two. For example, an existing home sale in Janua...
There are plenty of newly built homes for sale these days—and fewer takers. The rate of sales for newly built houses fell 0.6% between May and June to an annual rate of 617,000, down 7.4% from the same month last year, the Census Bureau said Wednesday.1That was despite the number ...