Another mixed bag in the housing market for November as existing-home sales and average house prices rose, but inventory remained somewhat mismatched with demand.
While the housing market inched forward in October, it’s still pacing down year-over-year. Inventory is recovering, albeit painfully slowly.
ESA@Work | The existing home sales numbers for September aren’t great: pacing is down, interest rates up, inventory up but still lagging, and affordability challenging today’s home shopper.
Even with tight inventory, the October housing market was strong as EHS rose to a pace not seen since early summer.