Wall Street History

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Wall Street History

04/24/2017

Housing Update

Time for my quarterly update of the housing situation in the United States, using the National Association of Realtors’ (NAR) database for existing home prices. 

This go ‘round we look at the first quarter of the year. Spring is here so activity picks up, as should prices, with the latter up 6.8% in March vs. a year ago, while sales advanced 5.9% yoy, to the best annualized pace since Feb. 2007, 5.71 million in March, according to the NAR. The following is the national median home price.

2017

Jan. ....$227,300
Feb. ....$228,200
Mar. ...$236,400 (preliminary)

2016 

Jan. ....$213,700
Feb. ....$212,100
Mar. ...$221,400 

2015

Jan. ....$197,600
Feb. ....$201,900
Mar. ...$210,700

2014 

Jan. ....$187,900
Feb. ....$188,300
Mar. ...$196,700 

2013

Jan. ....$170,600
Feb. ....$173,200
Mar. ...$184,000

2012

Jan. ….$154,600
Feb. ….$155,600
Mar. …$164,800

2011

Jan. ….$157,900
Feb. ….$156,100
Mar. …$159,800

2010

Jan. ….$164,900
Feb. ….$164,600
Mar. …$169,500

2009

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
2014....$208,300
2015....$222,400
2016....$233,800

*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 rebound.  A new high was then set this past June at $247,600.

Source: realtor.org

Wall Street History will return in two weeks.

Brian Trumbore

 

 

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