November sales better than expected, but prices lag behind

  • November's year-over-year home sales gains are the strongest the industry's seen since June, according to the most recent Real Trends Housing Market Report.
  • However, the average price of homes sold showed only a slight increase of 0.5 percent overall, with the Northeast and Western regions reporting a slight price decline.
  • The consensus still remains that we will see moderate increases in unit sales and prices next year.

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Last month’s predictions that home sales would be stronger than previously anticipated came to fruition, with sales increasing 7.5 percent year-over-year in November, according to the most recent Real Trends Housing Market Report.