This go ‘round we look at the first quarter of the year. Spring is here so activity picks up, as should prices, though while prices are indeed up vs. a year ago to the tune of 7.9%, sales were off 7.5%, according to the NAR. The following is the national median home price.
Jan. …$187,900
Feb. …$188,300
Mar. …$198,500 (preliminary)
Jan. …$170,600
Feb. …$173,200
Mar. …$184,000
Jan. …$154,600
Feb. …$155,600
Mar. …$164,800
Jan. …$157,900
Feb. …$156,100
Mar. …$159,800
Jan. …$164,900
Feb. …$164,600
Mar. …$169,500
Jan. …$164,700
Feb. …$168,200
Mar. …$170,000
Using the NAR’s data, the median average for a full year was as follows.
2004…$185,200
2005…$219,600
2006…$221,900*
2007…$219,000
2008…$198,100
2009…$172,500
2010…$172,900
2011…$166,100
2012….$176,800
2013….$197,100
*Existing home prices peaked in July 2006 at $230,200… according to NAR. You can play around with the numbers but generally you’re talking a ‘formal’ decline of 30%, peak to trough. That’s the national figure. Of course the damage elsewhere was far worse.
Wall Street History will return in two weeks.
