There were no dramatic changes for the housing market in November and the first part of December.
Home values continue to rise in excess of 6%, slowing a bit from a pace that was higher than 10%
earlier this year. The number of homes for sale continues to rise giving buyers some relief from
inventory shortages. The Month's Supply of Inventory (MSI) remained about the same as last
November. New contracts written have been up the last 90 days while closed sales have actually
fallen. Though new contract data is less reliable than sold data, we remain optimistic that there is a
backlog of sales waiting to close in the next 60 days. The slower sale pace does reinforce our feeling
that the market is settling down to a more normal pace, especially in the over $500,000 segments.
With buyers spread out among more listings, many sellers will feel that the market is slower than it
really is. Read more now / Download the the December 2014 Monthly Market Update Report from Janet and Thomas - Click Here
Home values continue to rise in excess of 6%, slowing a bit from a pace that was higher than 10%
earlier this year. The number of homes for sale continues to rise giving buyers some relief from
inventory shortages. The Month's Supply of Inventory (MSI) remained about the same as last
November. New contracts written have been up the last 90 days while closed sales have actually
fallen. Though new contract data is less reliable than sold data, we remain optimistic that there is a
backlog of sales waiting to close in the next 60 days. The slower sale pace does reinforce our feeling
that the market is settling down to a more normal pace, especially in the over $500,000 segments.
With buyers spread out among more listings, many sellers will feel that the market is slower than it
really is. Read more now / Download the the December 2014 Monthly Market Update Report from Janet and Thomas - Click Here
Want to figure out what your home is worth? Contact Janet and Thomas 855-Janet-Tom Or Visit MacombandOaklandValues.com for a Free Immediate property value.
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