December 3, 2022

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Home prices are falling. Here is the Re / MAX report

There has been a decline in house prices in the United States. Last November Reported a 2.9% decrease in average selling price, a $ 330,000. On the other hand, sales have only declined compared to October 4.9%, Records a lower number than the seasonal decline. The data should be disclosed RE / MAX, In the report he examined 51 metropolitan areas.

November 2021: Low prices

After January 2020, there was the biggest decline in a month since the average price was reported -3,4%. This is an element of the trend because, according to the report’s data, a decline in prices is generally recorded January Not in November. In particular, the period 2015-2019 Average growth was confirmed in November (excluding 2020 for epidemics) 0.9%.

2021: Comparison compared to previous periods

The following highlights are highlighted in the comparison between the two periods.

  1. The Five-year average Sale Gives October A November Showing the decline 12.0%, More than twice equal 4.9% Registration November 2021.
  2. The Five-year average of offer Gives October A November Records the decline8.9%, More than half 17.7% From November 2021.
  3. And get Nine months of 2021 Have followed a five-year course From October 2015-2019, When there is an unusual price increase (+ 0.8%), Following its abnormal infiltration November 2021.

Nevertheless, the average selling price of homes in November was high11.9% I $ 295,000 Of November 2020. Average monthly sales trend (1.2 months) Decreased in comparison 1,4 From October And it was just that 0,1 More than a month than the record 1,1 Founded on March. Of the 51 cities involved, the average number of properties sold in November 2021 declined 4.9% Compared to October 2021 And 0,1% Compared to November 2020. Markets with the biggest decline in annual sales: Billings, MD With -13.0%, St. Anthony, TX With -11.4% e San Diego, That With -11.0%. From 51 cities, 39 Saw a double-digit increase over the years, with a maximum of: Phoenix, The With + 27.2%, Salt Lake City, Out With + 25.3% e Boise, ID With + 24.8%.

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Nick Bailey, CEO of RE / MAX LLC, says: “A moderate decline in prices may be the first sign of a recovery, but supply shortages continue to be an issue.

By Leticia del Nero