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Home Sales 19 Consecutive Monthly Gain Faces 2013 Wild Cards
Date:12/30/2012

showing a sustained upward trend overall in 2012. After tabulating November's statistics, NAR reports that the housing market has achieved a 19 consecutive monthly year-over-year price gain, which last occurred from September 2005 to May 2006.

Comparing Home Sales Year To Year - November 2012 to November 2011:

HUD and The U.S. Census Bureau released the "New Residential Construction Report" on December 19, 2012 and NAR's report contained the following highlights that effect home prices:

  • Privately-owned HOUSING STARTS - were at a seasonally adjusted annual rate of 861,000. This is 21.6 percent (±12.5%) above the November 2011 rate of 708,000.

  • Privately-owned HOUSING COMPLETIONS - in November were at a seasonally adjusted annual rate of 677,000. This is 16.1 percent (±9.5%) above the November 2011 rate of 583,000.

  • BUILDING PERMITS - in November 2012 were at a seasonally adjusted annual rate of 899,000, up 3.6 percent from the revised October rate and up 26.8 percent from November 2011.

  • TOTAL EXISTING HOME SALES - which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, rose 5.9 percent to a seasonally adjusted annual rate of 5.04 million in November. This is 14.5 percent higher than the 4.40 million-unit pace in November 2011.

  • The NATIONAL MEDIAN EXISTING HOME SALES PRICE - for all housing types was $180,600 in November, up 10.1 percent from November 2011.

  • MIDWEST EXISTING HOME SALES - up 7.2 percent in November to a peak of 1.19 million, coming in at 21.4 percent higher than in Nove
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Source: PRWeb
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