Tag Archives: Median Home Prices

Existing Home Sales June 2020 — Extraordinarily Nimble in a Catastrophic Economy

Given the record 32.9 percent plunge in U.S. GDP in Q2 2020 (advanced estimate), June 2020 existing home sales levels could be described as unexpectedly resilient, down just 11.3 percent year-over-year on a seasonally adjusted annualized rate (SAAR) according to the National Association of Realtors® (NAR).   That descriptor rises to extraordinary when viewing the  year-over-year …Read more

Existing Single Family Home Sales Median Prices Q1 2020

Each quarter the National of Association of Realtors® (NAR) reports quarterly median prices for single family home sales and condominiums for almost 200 Metropolitan Statistical Areas (MSAs).  The following analysis is based on the current and prior reports from NAR on median prices of existing single family home sales. The first table below shows the …Read more

New Home Sales Pickup in May 2020

New home sales picked up the pace growing by double digits percentage wise in May 2020, as the demand for clean, safe and never-lived in housing rose.  Sales came in at 676,000 dwelling units on a seasonally adjusted annualized rate (SAAR) according to the U.S. Census Bureau, up 16.6 percent from the revised 580,000 in …Read more

Existing Home Sales Plunge in May 2020

Existing home sales in May 2020 plunged from a seasonally adjusted analyzed rate (SAAR) of 5.76 million in February to 3.91 million as of May (down 32.1 percent  and a year-over-year drop of 26.6 percent according to the National Association of Realtors® (NAR).  In comparison, during the housing bubble implosion, the largest decline was 30.1 …Read more

Potential High-Risk Housing Markets Due to Coronavirus

The economic impact of the Coronavirus varies from one city to the next  just like medical symptoms and severity of those infected by the virus differs from one person to another.    A myriad of factors affect how each local housing market will respond under these pressures and economic uncertainties.  My favorite economic and real estate …Read more

Pick a Number, Round 2 –January 2020 Existing Home Sales

Existing home sales in January 2020 were either lackluster or robust depending on which statistic or metric is viewed, based on the National Association of Realtors® (NAR) latest press release.   NAR sales focus is on a seasonally adjusted annualized rate (SAAR).  The following describes four individual conclusions regarding existing home sales in January 2020 using …Read more

Pick a Number — Existing Home Sales November 2019

In this day and age of mathematical precision and faster-than-light calculation speeds, answering the question as to existing home sales numbers and direction almost makes one stutter.   The following bullets summarize November existing home sales statistics.  Pick a number — pick any number — and what you saying is probably  correct.  Each of these data …Read more

Another Top-10 List — Highest Gaining (and Losing) Median Home Price Metropolitan Statistical Areas Q3 2019

While the U.S. has seen all-time record-high employment, the lowest unemployment rate in 50 years, and rising wages, home sales stuttered in 2018 and the first half of 2019 due to affordability.  Home price  increases in the past decade have out-sprinted income gains, negatively impacting affordability. Prices changes are not uniform nor consistent across the …Read more

U.S. Homeownership Rate by State

Not only is homeownership the key component of the American Dream, the home is the largest store of wealth for the majority of American families.  Good news is that homeownership is increasing in the U.S. once again.  After the U.S. homeownership rate peaked at 69.2 percent in 2004 (driven by the unthrottled availability of subprime …Read more