The median home price was $489,591 in November, which was an increase of 1.6 percent from October and a 7.4 percent increase from November of last year. The median home price has increased by approximately $33,524 in the past year.
A seasonally adjusted 42,927 homes were sold in November, which was down 5.3 percent from October and down 2.2 percent from November of the previous year. Currently, 2016 is outpacing 2015 by approximately 36,404 home sales.
The sales-to-new-listings ratio decreased to 59.8 percent in November, while a seasonallyadjusted 71,777 new listings came on the market. This ratio could indicate a balanced market in the majority of regions.
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