In November, the average home sat on the market for 62 days, up 11 days from last year, according to Realtor.com. Here’s the breakdown:
- Mortgage Rates: 30-year fixed averaged 6.84%, with a 2025 forecast of 6.3%.
- Home Prices: Averaged $416,880, down 0.7% YOY.
- Price Cuts: 16.7% of homes reduced prices.
- Inventory: Active listings rose 26.2% YOY, but new listings edged up only 2% YOY.
Regional Insights
Inventory surged in:
- South: +34.8%
- West: +29.2%
- Midwest: +18.9%
- North: +9.7%
Our Take
Homes lingering longer means sellers should prepare for extended timelines, while buyers can take advantage of a less rushed market.
Contact Westside Los Angeles Luxury Real Estate Broker Abdo Pierre Faissal at Nourmand & Associates for more information
📞 310-620-1038 | ✉️ [email protected]