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Median Price Existing Home
| |
. |
|
|
 |
| MOST RECENT STATISTIC: |
|
|
|
| Median |
$174,900 |
| Mean |
$219,800 |
| PERIOD COVERED: |
Sept. 2009 |
| Date Released: |
10/23/09 |
|
|
|
| Next Released: |
11/23/09 |
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|
|
|
|
|
09/09 |
08/09 |
07/09 |
09/08 |
|
|
| Median Price (000) |
$174.9 |
$177.3 |
$181.5 |
$191.2 |
|
| % Change |
- |
(1.35%) |
(3.64%) |
(8.53%) |
|
| Mean Price (000) |
$219.8 |
$222.4 |
$227.4 |
$235.0 |
|
| % Change |
- |
(1.17%) |
(3.34%) |
(6.47%) |
|
|
| Source:
National Association of Realtors |
Analysis for the Housing Market
By:Ken Lee
In September, the median sales price of an existing home declined to $174,900 from $177,300 in August. Median existing home prices have now declined for three straight months and are back to their lowest levels since May. Existing home prices remain noticeably lower than they were this time last year. The median existing home price is 8.53% lower than the same time last year when the median price was $191,200.
Every region recorded a decline in prices from September of last year. The West region of the country recorded the largest annual drop in prices, falling 15.15% to $219,000. Existing home prices in the West have been significantly hurt by foreclosures and short sales over the past year. The Northeast, which is the most expensive region in the country, experienced a 6.98% decline in existing home prices to $234,700. Compared to last year, the Midwest saw prices decline 1.01% to $147,600 while median existing home prices in the South fell 7.64% to $153,500.
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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