Price increases compared to three years ago, before the recovery officially began, and one year ago have been declining steadily since the end of May, according to the latest national DataQuick data.
Median sales prices have increased 25 percent since 2011 as of July 7, but on May 29 they were 28 percent above the level of three years ago.
During the same period, year over year price increases have been declining steadily over the past six weeks, from 6.7 percent t 5.9 percent on July 7. The DataQuick numbers are based on medians from 99 of the nation’s top 100 markets. The national median price hit $230,000 on July 7.
Sales on July 7 remain 2.5 percent below the level of a year ago and 27.2 percent above the level of sales in 2011.