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Median Price Existing Home
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 |
| MOST RECENT STATISTIC: |
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| Median |
$178,300 |
| Mean |
$225,400 |
| PERIOD COVERED: |
Dec. 2009 |
| Date Released: |
01/25/10 |
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| Next Released: |
02/26/10 |
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|
12/09 |
11/09 |
10/09 |
12/08 |
|
|
| Median Price (000) |
$178.3 |
$170.0 |
$172.2 |
$175.7 |
|
| % Change |
- |
4.88% |
3.54% |
1.48% |
|
| Mean Price (000) |
$225.4 |
$211.8 |
$217.3 |
$217.6 |
|
| % Change |
- |
6.42% |
3.73% |
3.58% |
|
|
| Source:
National Association of Realtors |
Analysis for the Housing Market
By:Ken Lee
In December, the median sales price of an existing home increased to $178,300 from $170,000 in November. This was the second straight month that existing home prices have increased and the highest they have been since July. December was also the first month since August 2007 that existing home prices recorded a year-over-year increase. The median existing home price is 1.48% higher than the same time last year when the median price was $175,700. It is a positive sign for the housing market that we are continuing to see stabilization in home prices.
Every region recorded an annual increase in home prices except for the South. The South region experienced a slight 0.98% decline in home prices from year-ago levels to $152,000 in December. The Northeast region of the country recorded the largest annual increase in prices, gaining 3.16% to $241,700. The West experienced a 2.74% increase in existing home prices from December of last year to $236,000 while the Midwest saw home prices increase 1.78% to $143,200.
Definitions and Importance for the Housing Market
By:Ken Lee
Primary data for existing home sale prices is supplied by the National Association of REALTORS® Economic Research Group. Data available includes the price of homes that have been previously owned and occupied only. Figures are released monthly. The median price indicates the mid-point of existing home prices; one-half of home prices are above and one-half home prices are below the median price. The median price differs in definition from the mean existing home price, which is the average of all existing home prices.
For additional information on existing home prices, go to: http://nar.realtor.com/research/home.htm
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