Wall Street History

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Wall Street History

07/27/2020

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 second quarter of the year. Spring is when activity picks up, as should prices, and the latter rose 3.5% in June vs. a year ago, making it 100 straight months of year-over-year price gains, while sales fell 11.3% year-on-year to 4.72 million in this crazy new world, though were up 20.7% over May, according to the NAR. 

The following is the national median home price.

2020

Apr. …$286,700
May …$283,600
Jun. ….$295,300 (preliminary…all-time high)

2019

Apr. ...$266,900
May ...$278,200
Jun. ....$285,400

2018

Apr. ...$257,900
May ...$265,100
Jun. ....$273,800

2017

Apr. ...$245,000
May ...$252,500
Jun. ....$263,300

2016

Apr. ...$230,900
May ...$238,900
Jun. ....$247,600

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
2016....$233,800
2017....$247,200
2018....$259,300
2019…$271,900

*Existing home prices first 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, after the summer of ‘06, before the big rebound.  Today, we are up to $295,300.

Source: realtor.org

Wall Street History will return in a few weeks.

Brian Trumbore

 

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