Today, in the Real Estate Newsletter: 4th Look at Local Housing Markets in November
Excerpt: This update adds Austin, California, Des Moines, Memphis, Minneapolis, Minnesota, Rhode Island, and Sacramento.
Here is a summary of active listings for these housing markets in November. Inventory was down 15.3% in November month-over-month (MoM) from October, and down 26.7% year-over-year (YoY).
Inventory almost always declines seasonally in November, so the MoM decline is not a surprise. Last month, these markets were down 23.4% YoY, so the YoY decline in November is larger than in October. This isn’t indicating a slowing market.
1. New additions to table in BOLD.
2. Northwest (Seattle), North Texas (Dallas), and Santa Clara (San Jose), Jacksonville, Source: Northeast Florida Association of REALTORS®
3. Totals do not include Denver or Minneapolis (included in state totals).