Thursday, December 20, 2012

NAR: November home sales, median price up again

The National Association of Realtors released new existing home sales data and median home price data today.

According to NAR's numbers, existing home sales in the US West region, which includes Colorado, were up 5.3 percent form November 2011 to November 2012. This is the smallest increase of the four regions measured. For example, home sales in the Midwest were up 25 percent during the same period.

Overall, there was slight growth in the region  in home sales compared to last year, as can be seen in the first graph. Most of the sales growth appears to be  in the midwest and south.

NAR also released median home prices for each region. In the West region, the median home price increased 18.1 percent from November 2011 to November 2012. The median home price was $295,900 in the West region. High prices in California keep the regional median home price well above the Colorado median home price which is well below $295,000.  In the metro Denver area, which has the highest metro-wide median home price, the median home price right now is in the $250,000-$260,000 range.