Real Estate and Silver Prices
Silver demand is up but silver prices are down. Real estate sales are down, yet home prices are up.
UPDATE September 5, 2013: Sales of U.S. Silver Eagles reach 33,750,000 year to date, passing 2012 total sales of 33,742,500 and heading towards 2011’s record 39,868,500.
UPDATE November 26: sales of U.S. Silver Eagles pass 41,0000 year to date setting an all time annual record/pending home sales fall for fifth month in a row-hit ten month low
The price of silver is declining while real estate values are climbing.
Sales of U.S. Silver Eagles are at a record pace. Sales of new homes are at relative historic lows.
Silver at $18.79 an ounce today is trading below its 1980 high of $50 an ounce. The median new home price now is at an all time high.
Here are your apples to oranges silver/real estate morning charts:
Year # U.S. Silver Eagles Sold by the U.S. Mint January-June
Year Average Price per Ounce
Current price of Silver – 6/28/2013: $18.78
Source: U.S. Mint
For comparison here are the average prices of silver from 1979-1981 prior to the minting and sale of U.S. Silver Eagles that began in 1986:
Year Average Price per Ounce
1980 $16.39 -Silver hit a high of $49.45 per ounce in January of 1980
Silver Price Source: Kitco
Here is a chart showing the number of new homes sold:
Year # of new homes sold
Source: US Census
Here are charts showing the Median New Home Price by Year
Year Median New Home Price
New Home Price Source: US Census
Median Home Price Source 2011, 2012: Zip Realty
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