Wall Street History

---

Wall Street History

08/05/2016

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 4.8% in June 2016 vs. June 2015, less than the 6.5% gain June 2015 over June 2014.

The following is the national median home price.

2016

Apr. ...$230,900
May ...$238,900
Jun. ....$247,700 (preliminary)

2015

Apr. ...$218,700
May ...$228,900
Jun. ....$236,300

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
2015....$222,400

*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, nationally, before the bounceback.  A new high was then first set June of last year at $236,300, while this June’s reading reflects a further increase to $247,700.

Source: realtor.org

Wall Street History will return in two weeks.

Brian Trumbore

 

 

---