08/07/2015
Housing Update
Time for my quarterly update of the housing situation in the United States, using the single-best barometer of all, existing home prices as published each month by the National Association of Realtors (NAR).
This go ‘round we look at the second quarter of the year. Spring is when activity picks up, as should prices, and they rose 6.5% in June 2015 vs. June 2014, compared with a 3.7% gain June 2014 over June 2013.
The following is the national median home price.
2015
Apr. ...$218,700
May ...$228,900
Jun. ....$236,400 (preliminary)
2014
Apr. ...$201,500
May ...$212,000
Jun. ....$222,000
2013
Apr. ...$191,800
May ...$203,100
Jun. ....$214,000
2012
Apr. …$173,700
May …$180,300
Jun. ….$188,800
2011
Apr. …$161,100
May …$169,300
Jun. ….$175,600
2010
Apr. …$172,300
May …$174,600
Jun. ….$182,900
2009
Apr. …$166,500
May …$174,800
Jun. ….$181,800
Using the NAR’s data, the median average for a full year is 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
2014....$208,300
*Existing home prices peaked in July 2006 at $230,200… according to the 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.
But now, the preliminary figure for June 2015 is $236,400...a new (non-inflation adjusted) high! Time to celebrate with an adult beverage.
Source: realtor.org
Wall Street History will return in two weeks.
Brian Trumbore
