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December Market Report



U.S. existing home sales ticked up 0.5% from the previous month to a seasonally adjusted annual rate of 4.13 million, marking the third consecutive monthly increase, according to the National Association of REALTORS® (NAR). However, sales were down 1.0% from the same period last year. Regionally, sales rose month-over-month in the Northeast and South, were unchanged in the West, and declined in the Midwest. On a year-over-year basis, sales were flat in the Northeast and South and fell in both the Midwest and West.


New Listings decreased 29.2 percent to 63. Pending Sales increased 6.3 percent to 85. Inventory decreased 3.1 percent to 534.


Median Sales Price increased 4.6 percent from $239,000 to $250,000. Days on Market increased 2.4 percent to 86. Months Supply of Inventory decreased 7.8 percent to 4.7.


The national median existing-home price continued to climb, rising 1.2% from a year ago to $409,200, according to NAR. This year-over-year increase—the 29th consecutive monthly gain—reflects ongoing tightness in housing supply. At the end of November, there were 1.43 million units for sale, down 5.9% from the previous month but up 7.5% from the same time last year, representing a 4.2-month supply at the current sales pace.



Curious about the current value of your home? Don’t hesitate to reach out to a member of the Kira Witherwax Team at RE/MAX North Country.


To view the full Market Report for December download the link below.







 
 
 

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