Existing U.S. Home Sales Pace Picks Up As Median Price FallsFebruary 23, 2011
The pace of seasonally adjusted existing-home sales in the U.S. increased 2.7 percent from a revised 5.22 million in December to 5.36 million in January, up 5.3 percent on a year-over-year basis.
At the same time, the median sale price for existing-homes fell 3.7 percent on a year-over-year basis to $158,800 as distressed sales accounted for 37 percent of the sales volume, up one point from December and down one point from January 2010.
Existing-home sales in the west increased 7.9 percent from December to January. On a year-over-year basis sales were up 7.0 percent as the median sales price fell 5.7 percent.
∙ Existing-Home Sales Rise Again in January [realtor.org]
∙ Existing U.S. Home Sales Pace Up 12.3%, Down 2.9% Year-Over-Year [SocketSite]
Comments from Plugged-In Readers
These are truly fascinating “statistics” from APCA. I’m hanging on their every word. Until the” revisions”, that is.
Two things we pretty much know for sure: sales were weaker, and prices fell more than they will ever let on.
It would seem that housing as an industry is terribly depressed, however there are good signs. Pending home sales, or contracts to buy homes, were observed during the month of March, as spring is certainly the getting season. That said, recovery is nevertheless far from complete. I read this here: April showers bring may flowers and boost pending home sales
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