December Market Statistics

Sales of single-family, re-sale homes ended the year off 0.4% year-over-year in December.

Home inventory continues to be abysmal. It was off 77.2% from last December.

The median price for homes jumped 28.8% year-over-year. The median price has been higher than the year before for the past eleven months. The sales price to list price ratio has been over 100% for the past ten months: 102.6%.

The average price for homes was up 27.2% year-over-year.

Pending home sales were down 29.8% year-over-year, portending a slow start to 2013.

Sales momentum…

for homes rose 0.6 of a point to +4.6.

Pricing momentum…

has been on the up-swing the past ten months. It rose 2.1 points to +11.3.

Condo Statistics…

The median price for condos was up 32.3% year-over-year. That’s ten straight months of double-digit gains.

Sales were off 19.5%, while pending sales fell 36.4%.

Condo inventory was down 85.8% from last December.