NATIONAL HOUSING REPORT: NOVEMBER 2020
The housing market on a national level has continued its extraordinary half-year run of high activity, with November 2020 home sales up almost 20% over November 2019 – establishing a new high for the month in the 13-year history of the report.
November 2020 broke several records for the RE/MAX National Housing Report, and inventory reached its lowest point since the report debuted in 2008.
New November records reflecting across 52 U.S. markets included:
• The Median Sales Price of $292,000 was up 13.8% from November 2019
• Days on Market was a mere 36 – down nearly 2 weeks from last year’s 49
• Months Supply of Inventory was 1.8
I am seeing these same trends throughout most of the major markets in the US. Central Texas just happens to be on steroids, meaning leading the trends as one of the most extreme when it comes to the velocity of it's pace, including the lack of inventory, reduced days on market, increases in sales, prices, and activity.
