November Home Sales and Prices Higher than Expected
November home sales saw the second-highest year-over-year increase in 2012, with a 15.7% rise from last November. October had a 17.8% increase, making sales this fall season unusually high. The November RE/MAX National Housing Report, a survey of MLS data in 52 metropolitan areas, also shows that home prices rose 6.9% higher than the prices seen in November 2011. The Median Price for homes sold this November was $163,750. Rising prices are due mostly to a dwindling inventory, which continued to drop across the country. The average number of homes for sale is now 29.1% lower than last year. Low inventory levels are having a negative impact on home sales in many markets, where there are more buyers than homes for sale.
The above is an excerpt from the monthly RE/MAX National Housing Report. Click here to read the full two-page report.
Tags: December, national housing report, NHR, remax report
About Keri Henke
Keri Henke is the Public Relations & Communications Coordinator for RE/MAX North Central.
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Monday, December 31, 2012
November Home Sales and Prices Higher than Expected - Sold Sign Blog
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