According to Redfin, as the holiday season nears, the housing market is showing signs of stability and even resilience through the seasonal slowdown. Redfin has more:
The 19-market median sales price is up 15.3 percent year-over-year at $327,302, Redfin said.
Month-over-month prices ticked down slightly with a 0.9 percent decrease. Home sales were up 0.6 percent over last year’s very strong October with 74,363 homes sold this month. Inventory continues to be the low point in the housing market, down 10.4 percent over last year, and down 5.5 percent from last month. As we said last week, shifting market conditions, such as reduced competition and falling mortgage rates, likely sustained demand in October.