Summary: Total home sales went down 42.5% from the same month a year ago and down 18.2% from Oct 2018. Last month’s sales were 34.7% below the 10-year November sales average and was the lowest sales for the month since 2008. Home prices have edged down between 4% and 7% over the last six months depending on property type. Detached house market is still in strong favor of home buyers.
Housing Market Condition: Housing market condition and pricing can vary depending on area and property type so please consult me for your area of interest. Generally analysts say that a buyer’s market condition occurs when the sales ratio is 12% or less. Balanced market occurs when the ratio is between 13% and 20%. Seller’s market occurs when the ratio is 21% or more.