This go ‘round we look at the first quarter of the year. Spring is here so activity will no doubt pick up, as should prices, but the question is, have we finally bottomed and will the spring’s advance be sustained? The following is the national median home price.
Jan. …$154,600
Feb. …$155,600
Mar. …$163,800 (preliminary)
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
*Existing home prices peaked in July 2006 at $230,200… according to NAR. You can play around with the numbers any way you want but generally you’re talking of a ‘formal’ decline of 30%, peak to trough. That’s the national figure. Of course the damage elsewhere has been far worse.
Source: realtor.org
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