NOVEMBER MARKET STATISTICS

Sales of single-family, re-sale homes were up 5.6% year-over-year in November. Home inventory continues to be abysmal. It was off 73% from last November. The median price for homes jumped 23.4% year-over-year. The median price has been higher than the year before for the past ten months. The sales price to list price ratio has been over 100% for the past nine months. The average price for homes was up 19.2% year-over-year. Pending home sales were down 6.9% year-over-year.

SALES MOMENTUM…
for homes rose 0.8 of a point to +4.

PRICING MOMENTUM…
has been on the up-swing the past nine months. It rose 1.8 points to +9.2.

CONDO STATISTICS… The median price for condos was up 43.6% year-over-year. That’s nine straight months of double-digit gains. Sales were off 4.5%, while pending sales fell 10.5%.