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Latest Housing Trends & Insights for November 2022

November 2022 housing trends

Inventory of New Homes Increased by 33.5% Over the Past Year

Nationally, the inventory of homes actively for sale on a typical day in October increased by 33.5% over the past year. This amounted to 189,000 more homes actively for sale on a typical day in October compared to the previous year.

November 2022 Housing Trends

Newly Listed Homes Declined by 15.9% Compared to the Same Time Last Year

In October, newly listed homes declined by 15.9% compared to the same time last year, a greater rate of decline compared to last month’s 9.8% year-over-year decrease. In September, seller sentiment improved slightly but remained well below last year’s levels.

November 2022 Housing Trends

Price Growth Continues to Slow but Remains in Double-Digits

The median national list price declined to $425,000 in October, down from an all-time high of $449,000 in June. This represents an annual growth rate of 13.3%, a slight deceleration from last month’s growth rate of 13.9% and down from a peak growth rate of 18.2% in June.

Homes are Staying on the Market for Longer

The median number of days a for-sale home has been on the market is up 45% from last year nationally and is up in 48 of the 50 largest markets. 46% of listings have been on the market for more than 60 days, up 10 percentage points from last year.

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