HOUSINGNEWS REPORT
MY TAKE
COMPARABLE EXISTING HOUSING SALES SEASONAL ITY — CLOSINGS PER MONTH
BOISE PHOENIX AVERAGE MEDIAN AVERAGE MEDIAN AVERAGE MEDIAN AVERAGE MEDIAN MINNEAPOLIS ORLANDO
JANUARY FEBRUARY
5.36% 6.07% 7.77% 9.19% 9.78%
5.35% 6.12% 7.66% 9.04%
5.19% 5.25% 7.05% 8.20%
5.21% 5.24% 6.89% 8.12%
6.13% 6.95% 8.78% 8.76%
5.98% 6.90% 8.78% 8.82% 9.06% 9.22% 9.13% 8.21% 7.96% 7.32% 8.46%
5.61% 5.86% 7.68% 8.67% 9.59% 9.73% 9.94% 8.63% 8.43% 7.45% 8.08%
5.64% 5.85% 7.72% 8.61% 9.60% 9.71% 9.97% 8.75% 8.39% 7.39% 8.11%
MARCH
APRIL MAY JUNE JULY
9.64% 10.02% 10.07% 9.21%
10.31% 10.27% 11.11% 11.06% 9.35% 10.06% 10.07% 10.33% 10.47% 9.20% 9.89% 10.05% 10.72% 10.75% 9.11%
9.16% 10.32% 10.29%
AUGUST
SEPTEMBER OCTOBER NOVEMBER DECEMBER
8.74% 8.27% 7.30% 7.25%
8.76% 8.26% 7.32% 7.19%
9.04% 8.86% 7.18% 7.05%
9.12% 8.88% 7.24% 7.02%
8.25% 8.23% 7.36% 8.66%
U.S. EXISTING HOME SALES PRICE SEASONAL ITY MEDIAN PRICE — NOT SEASONALLY ADJUSTED - $ THOUSANDS
median prices. Since closings peak in June, likewise do median prices.
2014
2015
2016
The interaction of supply and demand still drives prices.
$250
How much do prices vary seasonally during the year? To address this, median prices by month were compared based on a 100 index for the peak price month. • Data included monthly median prices for existing home sales from 2011 through 2016 • The month with the greatest median price within each year was assigned an index of 100 percent
$225
$200
$175
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
NATIONAL ASSOCIATION OF REALTORS
• The relative percentage of each month’s median price was calculated versus the 100 percent (top price) month, using both average and median statistics The following table shows the price relativity monthly for each year for U.S. existing home sales.
Prices peaked annually in June of each year for all six years while January was the annual price trough – again in each and every year. The typical median price each year in December was 6 percent less than June the same year (median statistic), while
• Monthly median price was expressed as a percentage of the maximum monthly median price within each year
15
OCTOBER 2017 | ATTOM DATA SOLUTIONS
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