Home sales were down 4.7% year-over-year and down 18.5% month-over-month across the 51 metro areas surveyed for the latest national housing report published by REMAX (NYSE: RMAX). San Antonio recorded the greatest year-over-year sales decline at -22.9% while Wichita, Kansas, had the great increase at +12.0%.
November’s active inventory was up 14.5% from one year earlier, marking the 23rd consecutive month of year-over-year inventory increases. But it was also 5.5% lower than the previous month. Homes took an additional week to sell and averaged 54 days on market, up from 47 days in November 2024 and 50 days in October.
Buyers closed on 18.5% fewer home sales from October to November and 4.7% less than in November 2024, with REMAX attributed to “typical seasonal patterns.” The median sales price of $438,000 posted a 1.7% year-over-year gain, continuing a 29-month growth streak that began in July 2023, but prices were also 1.5% below the level set in October.
“While some numbers reflect the typical seasonal slowdown, others point to encouraging trends,” said REMAX CEO Erik Carlson. “Inventory has continued to grow as prices have remained steady, pointing to a resilient market for both buyers and sellers. As the market continues to adjust heading into the new year, there’s plenty of opportunity to make a smart move, especially with guidance from a trusted REMAX agent.”
