REAL ESTATE UPDATES


		NewPanda REAL ESTATE UPDATE

REAL ESTATE UPDATES

Here's the latest news and headlines on property investments, housing, mortgages, refinancing, and real estate markets.

November 2024 brought 4.15 million in sales, a median sales price of $406,100, and 3.8 months of inventory. The median sales price is up 6.1% year-over-year, and inventory was up 0.3 months from November 2023.


	KEY HIGHLIGHTS:

	•	Existing-home sales up 4.8%, largest increase since June 2021

	•	Pending home sales rose 2.0% month-over-month

	•	Median sales price up 6.1% year-over-year

		Existing-home sales soar in November: Strongest yearly gain since 2021
		The housing market is on the rise, with existing-home sales experiencing a notable boost in November.

		The two factors that could unlock the housing market in 2025
		2025 could usher in a more balanced market with better opportunities for homebuyers.

		More starter homes are hitting the market
		After years of limited inventory and rising prices, first-time buyers are finally seeing more options.

“Home sales momentum is building. More buyers have entered the market as the economy continues to add jobs, housing inventory grows compared to a year ago, and consumers get used to a new normal of mortgage rates between 6% and 7%."

- Lawrence Yun, NAR Chief Economist

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		DID YOU KNOW?


	Why it’s called “real estate”

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