While realtor.com’s November data shows the first signs of a traditional winter season slowdown, the relatively small dampening in median list prices and inventory numbers of listings on the portal in November reveals that the price recovery the housing market saw in 2013 may hold.
Median sale prices for homes listed on realtor.com were $197,700 in November, down 0.65 percent from October, but up 6.92 percent from a year ago. Inventory was down (3.1 percent), too, for the month, but also up slightly (0.2 percent) for the year with an average of approximately 1.8 million homes listed for sale during November.
“The housing market in November continues to demonstrate encouraging signs of sustainability for the escalating gains this year in price,” realtor.com President Errol Samuelson said in a statement. “With demand in a much stronger position compared to last year, we anticipate these gains to remain steady into 2014, but with increases expected at a more moderate pace than we have seen in 2013.”
November also saw homes sit 7.5 percent longer than in October with a median age of 101 days. However, that sales rate is still 10.6 percent below the median age of realtor.com’s November inventory last year.
See November 2013 data for all 146 metros realtor.com tracks here.